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Africa, Forex

South African Markets – Factors to watch on May 19

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


– The South African Reserve Bank announces its interest rate decisions following a meeting of its monetary policy committee.


– South African lender Investec Ltd announces its full-year results.

– Massmart sales update for the 19 week period ended May 8.

– Afrimat Ltd full-year results.


The South African rand weakened against the dollar on Wednesday, after inflation held steady at the top of the central bank’s target range and retail sales numbers disappointed, a day before the central bank announces its interest-rate decision.

On the Johannesburg Stock Exchange (JSE), the All-Share index ended down 0.88% at 69,083 and the blue-chip index of top-40 companies I closed down 0.84% at 62,494 points, driven by a fall in resources companies.


Asian stocks tracked a steep Wall Street selloff on Thursday, as investors fretted over rising global inflation, China’s zero-COVID policy and the Ukraine war, while the safe-haven dollar held most of its strong overnight gains.


Wall Street ended sharply lower on Wednesday, with Target losing around a quarter of its stock market value and highlighting worries about the U.S. economy after the retailer became the latest victim of surging prices.


Gold prices were flat on Thursday, as a steady U.S. dollar and elevated Treasury yields weighed on greenback-priced bullion, with the metal’s outlook already dampened by an aggressive Federal Reserve stance on inflation.


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

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