The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.
– Statistics South Africa to release July retails sales data at 1100 GMT.
– South Africa’s Discovery reports full-year result.
SOUTH AFRICAN MARKETS
South Africa’s rand climbed to a six-week best on Tuesday as demand for risk assets was lifted by renewed hopes for a COVID-19 vaccine and solid industrial and retail data from China.
In the equities market, stocks gave back the previous session’s gains as investors focused on negative company results and earnings forecasts.
Most Asian shares rose on Wednesday, extending a rally driven by upbeat Chinese and U.S. economic data, but the dollar, U.S. yields and gold held steady as investors awaited the Federal Reserve’s view on the economy at its policy meeting.
U.S. stocks rose on Tuesday as investors hoped the Federal Reserve would stick with its supportive policy stance as the central bank’s two-day meeting got under way.
Gold prices held steady on Wednesday as investors awaited the outcome of the U.S. Federal Reserve’s policy meeting, hoping for details of the central bank’s plans to balance interest rates against its inflation target.
For the top emerging markets news, double click on (Compiled by Olivia Kumwenda-Mtambo)