Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on June 10

JOHANNESBURG, June 10 – The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Thursday.

ECONOMIC EVENTS

The South African Reserve Bank will publish first quarter current account data at 0900 GMT. Statistics South Africa will publish data on April gold and mining production at 0930 GMT, and manufacturing data production for April at 1100 GMT.

Refinitiv and IPSOS will publish their South Africa primary consumer sentiment index for June at 1000 GMT.

COMPANIES

The Foschini Group and MultiChoice will publish full year earnings.

SOUTH AFRICAN MARKETS

South Africa’s rand dipped on Wednesday as caution ahead of U.S. inflation data and a European Central Bank policy meeting on Thursday eclipsed better-than-expected local economic growth.

GLOBAL MARKETS

Asian shares edged higher but held their recent trading range on Thursday as investors focussed on U.S. inflation data and the risk of an upside surprise that could prompt the Federal Reserve to start tapering its massive stimulus.

WALL STREET

Wall Street ended a see-saw session lower on Wednesday as market participants awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.

GOLD

Gold prices were on the back foot on Thursday as the dollar ticked higher but traded in a narrow range as investors turned cautious ahead of the European Central Bank meeting and U.S. inflation data later in the day.

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

– Ambitious new emissions targets to change SA energy plan

FIN 24

– Load shedding crisis: Koeberg will be key, says De Ruyter – amid calls for drastic action (Reporting by Emma Rumney)


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