Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on June 18

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


FirstRand has found offering banking to cash-only businesses in South African townships trickier than expected, but the firms involved are also far bigger than it realised.


South Africa’s rand touched a one-month low against the dollar on Thursday and stocks dropped, after the U.S. Federal Reserve unexpectedly brought forward its projections for interest rate hikes.


Asian shares inched higher on Friday but were set for a weekly loss, while the U.S. dollar hovered near two-month highs as investors continued to digest comments from the U.S. Federal Reserve projecting interest rate hikes in 2023.


Conviction in the strength of the economic recovery pushed investors into U.S. technology stocks on Thursday, driving the Nasdaq higher, although a post-Fed hangover left a subdued S&P nursing a very minor loss.


Gold rose on Friday, but was headed for its worst week since March 2020 after the U.S. Federal Reserve’s hawkish message on monetary policy lifted the dollar higher and dented the safe-haven metal’s appeal.


For the top emerging markets news, double click on

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Some of the main stories out in the South African press:


– Covid-19 jabs for education sector to begin next week

– RMB boss urges government to intensify reforms

FIN 24

– Kusile power station to be completed by 2025 within its R161bn budget, says Mabuza

– Ninety One CEO gets close to R100m in company’s first year of listing (Compiled by Nqobile Dludla)

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