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JOHANNESBURG, July 10 (Reuters) – The following equity and currency market moves may affect South African markets on Wednesday.


The South African rand edged lower on Tuesday after Federal Reserve Chair Jerome Powell did not give a clear indication on whether the U.S. central bank would cut interest rates soon.

On the stock market, the Top-40 index closed down 0.2%.


Asian stocks hovered near two-year highs on Wednesday on growing bets of imminent U.S. rate cuts, while the New Zealand dollar slid after its central bank signalled greater confidence that inflation was coming to heel.


The S&P 500 and Nasdaq notched record-high closes on Tuesday, fueled by gains in Nvidia after U.S. Federal Reserve Chair Jerome Powell told lawmakers that more “good” economic data would strengthen the case for rate cuts.


Gold traded in a narrow price range on Wednesday as investors looked forward to a key U.S. inflation reading that could shed more light on the Federal Reserve’s interest rates trajectory.

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


– Reserve Bank loses nearly R1bn on its stake in African Bank

FIN 24

– Business lobby alarmed as US House votes for ‘full review’ of SA relationship

(Compiled by Tannur Anders)