Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on July 21

JOHANNESBURG, July 21 – The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Wednesday.

ECONOMIC EVENTS

Statistics South Africa will publish core inflation and consumer price inflation data at 0800 GMT.

SOUTH AFRICAN MARKETS

South Africa’s rand slipped further on Tuesday, as the fast spread of the Delta coronavirus variant made global investors nervous and drove a continued flight to safer assets.

GLOBAL MARKETS

Asian shares and U.S. Treasury yields rose on Wednesday, clawing back some of the week’s losses as investors reassessed economic worries, but the dollar was firm on concerns over the impact of a fast-spreading coronavirus variant.

WALL STREET

Wall Street ended sharply higher on Tuesday, rebounding from a multi-day losing streak as a string of upbeat earnings reports and revived economic optimism fueled a risk-on rally.

GOLD

Gold eased on Wednesday as the dollar emerged as the preferred safe-haven bet amid fears that the highly contagious Delta coronavirus variant may stall a global economic recovery, while a rebound in U.S. bond yields further pressured bullion prices.

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

– New welfare grant is on the table — the question is how much (Reporting by Emma Rumney)


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