The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Wednesday.
South Africa’s central bank publishes its bi-annual Monetary Policy Review.
South Africa’s health minister to brief parliament committee on COVID-19 vaccines
Retail sales data
SOUTH AFRICAN MARKETS
South Africa’s rand reversed earlier losses on Tuesday, as traders digested news of strong gains in March U.S. inflation, though that was not expected to alter the Federal Reserve’s commitment to keep interest rates at rock-bottom levels for years.
The benchmark all-share index closed up 1.03% at 67,072 points while the blue-chip index ended up 1.17% to 61,383 points.
Global equity markets rose to a fresh record high on Wednesday as bond yields eased after data showed U.S. inflation was not rising wildly.
The S&P 500 .SPX closed at another record high on Tuesday and the Nasdaq composite index jumped, as investors shook off concerns about the halt in Johnson & Johnson’s COVID-19 vaccine rollout and strong U.S. inflation.
Gold prices steadied after gaining in early trade on Wednesday as weakness in the U.S. dollar due to higher inflation was countered by some firming in Treasury yields.
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Some of the main stories out in the South African press:
– Government pauses use of J&J vaccine pending safety review
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