Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on July 2

JOHANNESBURG, July 2 (Reuters) – The following scheduled economic indicators, debt and currency market moves may affect South African markets on Thursday.

ECONOMIC EVENTS

Current account data

SOUTH AFRICAN MARKETS

South Africa’s rand firmed against a weaker dollar on Wednesday, shaking off data revealing the economy was already in contraction before the coronavirus lockdown as investors looked to pocket the rand’s high yield.

GLOBAL MARKETS

Asian stocks tracked Wall Street higher on Thursday, although sentiment was cautious ahead of U.S. employment data. Copper prices jumped to more than six-month highs on a better global outlook and supply fears in Chile.

WALL STREET

The S&P 500 and Nasdaq indexes closed higher on Wednesday to kick off the third quarter as increasing optimism for a safe and effective COVID-19 vaccine eased concerns that another round of business lockdowns was likely.

GOLD

Gold edged lower on Thursday, easing from a near eight-year peak, as solid U.S. manufacturing data and promising results from a COVID-19 vaccine trial revived hopes for a quick economic recovery, denting demand for safe havens.

EMERGING MARKETS

For the top emerging markets news, double click on

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Some of the main stories out in the South African press:

BUSINESS DAY

– Absa boss expects painful recovery

– Zuma co-accused Thales rejects NPA charge of racketeering

– Court denies DA bid to challenge Disaster Management Act

(Compiled by Alexander Winning)


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