Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on Jan. 12

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

ECONOMIC EVENTS

South Africa’s Treasury auctions long-term bond notes

South Africa’s industrial output data

SOUTH AFRICAN MARKETS

The rand hit a two-month low on Monday as the U.S. dollar gained on further stimulus hopes, while fears of tighter domestic coronavirus restrictions weighed on the South African currency.

The Johannesburg All-Share index rose 0.38% and the Top-40 index gained 0.5%.

GLOBAL MARKETS

Stocks took a breather on Tuesday, easing from record highs as political turmoil in Washington and rising coronavirus cases gave pause, though a selloff in U.S. Treasuries extended as investors reckon on a big spending government.

WALL STREET

Wall Street’s main indexes closed lower on Monday as investors took some profits after last weeks’ records while they waited for earnings season to begin and eyed events in Washington with trepidation.

GOLD

Gold ticked higher on Tuesday as stocks slipped on political turmoil in Washington and the slow pace of COVID-19 vaccinations worldwide, although a firmer dollar and higher U.S. Treasury yields limited gains.

EMERGING MARKETS

For the top emerging markets news, double click on

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