Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on July 3

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.

SOUTH AFRICAN MARKETS

South Africa’s rand firmed on Thursday after the country recorded a surprise current account surplus and demand for emerging market currencies was boosted by strong jobs data in the United States that encouraged risk-taking.

GLOBAL MARKETS

Asian shares rallied to a four-month high on Friday on robust U.S. payrolls data and a brisk pickup in Chinese service sector activity but a surge in coronavirus cases in the United States kept a lid on further risk-taking.

WALL STREET

Wall Street closed higher and the Nasdaq reached an all-time closing high on Thursday as investors headed into their long holiday weekend buoyed by a record surge in payrolls, which provided assurance that the U.S. economic recovery was well under way.

GOLD

Gold was flat, trading in a narrow $4 range on Friday, as worries over surging coronavirus cases globally and lingering trade tensions between the United States and China overshadowed strong U.S. jobs data.

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

– Daniel Mminele forced to wing it despite Absa’s careful planning

– Pepkor welcomes Mr Tekkie ruling, but Tekkie Town will go to ConCourt

BUSINESS REPORT

– Curro Holdings prospects for more growth ‘remain strong’

– MTN Group announces new CEOs for MTN Cameroon and MTN Benin (Compiled by Nqobile Dludla)


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