Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on July 31

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

ECONOMIC EVENTS

– The South Africa Revenue Service to release June trade balance figures.

SOUTH AFRICAN MARKETS

South Africa’s rand weakened more than 2% on Thursday, falling alongside other emerging market currencies as a surge in global coronavirus infections spooked investors fearing a return of strict lockdowns.

The Johannesburg Stock Exchange’s Top-40 Index fell 1.52% to 51,451 points, and the broader All-Share Index closed 1.52% lower at 55,844 points.

GLOBAL MARKETS

Asian shares wobbled in a choppy session on Friday as abysmal economic data from the United States and rising global COVID-19 cases weighed on sentiment, despite strong U.S. tech earnings and signs of manufacturing recovery in China and Japan

WALL STREET

The S&P 500 and Dow closed lower on Thursday after data painted a worrying economic picture on a crucial day for corporate earnings reports, while President Donald Trump exacerbated investor nervousness by floating the possibility of delaying the U.S. presidential election.

GOLD

Gold rose on Friday en route to its best month in nearly 4-1/2 years as the dollar slid further after dismal U.S. data added to doubts about a swift recovery from the pandemic-induced economic slump, driving investors towards the safe-haven metal.

EMERGING MARKETS

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(Compiled by Olivia Kumwenda-Mtambo)


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