Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on May 4

The following scheduled economic events, equity and currency market moves may affect South African markets on Tuesday.


– South African finance minister Tito Mboweni speaks to lawmakers on parliament’s oversight role to ensure accountability in public expenditure.

– South Africa’s Treasury auctions long-term bond notes.


The South African rand gained on Monday, helped by the U.S. dollar falling as Treasury yields retreated and economic data disappointed.

On the stock market, the All-share index closed down 0.52% at 66,586 points, and the blue-chip Top-40 index ended down 0.53% at 60,770 points.


Asian share markets advanced marginally on Tuesday as investors looked to signs of recovery from the coronavirus pandemic as major economies around the world reopen.


The S&P 500 and the Dow indexes ended higher on Monday amid a largely upbeat earnings season, while the Nasdaq came under pressure from declines in some high-flying growth stocks, as the rotation into cyclical and “economy reopening” stocks continued.


Gold prices retreated from a more than two-month high on Tuesday due to an uptick in the dollar, although weaker-than-expected U.S. economic data stoked concerns over recovery and limited losses for the safe-haven metal.


For the top emerging markets news, double click on (Compiled by Olivia Kumwenda-Mtambo)

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