South African Markets - Factors to watch on Aug 2
JOHANNESBURG, Aug 2 (Reuters) -The following political and economic events, and equity and currency market moves may affect South African markets on Friday.
POLITICAL AND ECONOMIC EVENTS
African National Congress National Executive Committee meets
Inflation-linked bond auction
SOUTH AFRICAN MARKETS
South Africa's rand firmed on Thursday as investors bet on a September interest rate cut in the world's biggest economy after dovish comments by the U.S. Federal Reserve on Wednesday. .JZAR/
GLOBAL MARKETS
Asian shares were headed for their worst day in over two years and U.S. Treasury yields slid, while the Swiss franc and yen rose on safety bids on Friday after weaker-than-expected U.S. factory data sparked fears of a worsening economic outlook. MKTS/GLOB
WALL STREET
U.S. stocks kicked off August sharply lower after a round of economic data on Thursday spurred concerns the economy may be slowing faster than anticipated while the Federal Reserve maintains a restrictive monetary policy. .N
GOLD
Gold prices firmed on Friday and were poised for a weekly gain, steered by safe-haven demand and the prospect of a September rate cut by the Federal Reserve, while market participants awaited U.S. payrolls data. GOL/
EMERGING MARKETS
For the top emerging markets news, double click on nTOPEMRG
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Some of the main stories out in the South African press:
BUSINESS DAY
- Lift in manufacturing bodes well for third-quarter economic performance
- Post-election cheer helps lift vehicle sales in July
FIN 24
- Treasury punishes Eskom with 4 bln rand for poor behaviour
(Compiled by Alexander Winning)
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