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South African Markets - Factors to watch on May 21
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South African Markets - Factors to watch on May 21
May 20, 2024 11:11 PM

JOHANNESBURG, May 21 (Reuters) - The following scheduled

economic events, equity and currency market moves may affect

South African markets on Tuesday.

ECONOMIC EVENTS

South Africa's leading indicator

South African government bond auction

SOUTH AFRICAN MARKETS

The South African rand weakened on Monday against a buoyant

dollar after cautious comments by a Federal Reserve official

propped up the U.S. currency.

On the Johannesburg Stock Exchange, the blue-chip Top-40

index and the broader all-share index closed

about 0.7% stronger.

GLOBAL MARKETS

Asian stocks drifted lower while the dollar held firm on

Tuesday as investors awaited minutes of the Federal Reserve's

latest policy meeting to gauge the timing and extent of possible

interest rate cuts this year.

WALL STREET

The Nasdaq closed at a record high on Monday while the S&P

500 gained slightly as technology stocks advanced ahead of

Nvidia's ( NVDA ) highly anticipated earnings and investors gauged the

timing of an interest rate cut by the Federal Reserve.

GOLD

Gold prices eased on Tuesday as the U.S. dollar firmed, the

metal backing away from a record peak hit in the previous

session as a fusion of bullish factors including growing U.S.

rate cut bets and geopolitical risks drove safe-haven

demand.

EMERGING MARKETS

For the top emerging markets news, double click on

- - - -

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

FIN 24

- Eskom board approves delay in decommissioning three power

stations till 2030

- SA's largest poultry group plans tinned chicken to take on

pilchards

(Compiled by Tannur Anders)

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