Views Article – Sharenet Wealth

Africa, Forex

South African Markets – Factors to watch on Nov. 23

JOHANNESBURG, Nov 23 – The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Tuesday.

ECONOMIC EVENTS

The South African Reserve Bank will publish data on its leading indicator for September at 0700 GMT.

COMPANIES

Reunert and Coronation Fund Managers will publish full-year results. Momentum Metropolitan Holdings and Old Mutual published operating updates. Old Mutual will also hold an investor update at 1200 GMT.

SOUTH AFRICAN MARKETS

South Africa’s rand dipped on Monday, as the U.S. dollar rose on Federal Reserve Chair Jerome Powell’s nomination for another term.

GLOBAL MARKETS

Asia stocks were mostly lower on Tuesday, tracking a retreat on Wall Street after President Joe Biden picked Federal Reserve Chair Jerome Powell to lead the central bank for a second term, reinforcing expectations the U.S. will taper its stimulus soon.

WALL STREET

The S&P 500 ended lower and the Nasdaq tumbled deep into negative territory on Monday after both earlier hit record highs following the announcement of a second term for Federal Reserve Chair Jerome Powell.

GOLD

Gold prices inched higher on Tuesday but held close to a more than two-week low, as the dollar jumped on bets for quicker interest rate increases after U.S. President Joe Biden backed Federal Reserve Chair Jerome Powell for a second term.

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

– Experts on high alert for fourth wave as Covid-19 cases rise in Gauteng (Reporting by Emma Rumney)


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