Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on Jan. 22

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

COMPANIES

Retailer Mr Price published a trading statement for the 13 weeks ended Dec. 26.

SOUTH AFRICAN MARKETS

South Africa’s rand firmed on Thursday, supported by the central bank’s decision to leave interest rates unchanged and expectations that the new U.S. administration will unveil a massive stimulus package.

GLOBAL MARKETS

Asian shares eased from record highs on Friday as investors took some money off the table after a recent rally that was driven by hopes a massive U.S. economic stimulus plan by incoming President Joe Biden will help temper the COVID-19 impact.

WALL STREET

The S&P 500 and Nasdaq closed at record highs on Thursday, propelled by optimism about more pandemic relief under the Biden administration to support the economy after data showed a tepid labor market recovery.

GOLD

Gold inched lower on Friday as U.S. Treasury yields ticked up, though bets of a large U.S. stimulus kept the metal on course for its best week in five.

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

– Residential property boom may run out of gas in 2021


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