Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on August 6

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

ECONOMIC EVENTS

– July foreign exchange reserves. 0600 GMT

– Central bank balance sheet data. 0600 GMT

COMPANIES

– No major releases.

SOUTH AFRICAN MARKETS

South Africa’s rand recovered on Wednesday from a two-month low set the previous session, thanks to a weaker dollar, while stocks jumped to a more than five-week high led by gold miners.

GLOBAL MARKETS

The dollar languished and just about everything else rose on Thursday, as markets took patchy U.S. economic data as a harbinger of ever more stimulus and brinkmanship on Capitol Hill as a sign that a deal on a new U.S. stimulus package is close.

WALL STREET

U.S. stocks climbed on Wednesday on the heels of a surprise quarterly profit from Disney and as investors stayed optimistic that a deal was near for a U.S. coronavirus fiscal aid package.

GOLD

Gold steadied on Thursday after hitting a record high in the previous session as dismal U.S. jobs data hammered the dollar, while increasing worries about a recovery in the pandemic-ravaged global economy kept demand solid for the metal.

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

– SA Tourism asks state to pump up relief aid.

BUSINESS REPORT

– Covid-19 impact on pension funds may have catastrophic consequences.


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