South African Markets – Factors to watch on March 24

PUBLISHED: Wed, 24 Mar 2021 05:24:35 GMT
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JOHANNESBURG, March 24 – The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Wednesday.

ECONOMIC EVENTS

Statistics South Africa is due to release inflation data for February at 0800 GMT.

SOUTH AFRICAN MARKETS

South Africa’s rand weakened in on Tuesday as caution prevailed ahead of a closely watched testimony by top U.S. policymakers, with investors looking out for comments on the rise of bond yields.

GLOBAL MARKETS

Asian shares hit a two-week low on Wednesday, oil weakened further and the dollar neared four-month highs as coronavirus lockdowns in Europe and potential U.S. tax hikes hit risk appetite, leading to a flight to safety.

WALL STREET

U.S. stocks tumbled on Tuesday as concerns about the cost of infrastructure spending and potential tax hikes to pay for President Joe Biden’s $1.9 trillion relief bill weighed on investors who also fear further downside in the market.

GOLD

Gold prices rose on Wednesday as U.S. Treasury yields held close to one-week low, with bullion shrugging off strength in the dollar following Federal Reserve Chairman Jerome Powell’s reassurance that inflation would not spiral out of control.

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

– Lesotho moves to cancel Netcare hospital contract

FIN 24

– Not selling their sole: Former Tekkie Town owners to vote against Steinhoff’s offer to settle

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