
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Sept 17 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, company announcement, equity and currency market moves may affect South African markets on Tuesday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>South Africa&#8217;s government will hold its weekly auction of long-term bonds.</p>



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



<p>South African insurer OUTsurance will report its full-year results.</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>The South African rand gained on Monday against a weaker dollar, as markets geared up for a week packed with interest rate announcements and a local inflation print.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index&nbsp;closed down about 0.1%.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks gained on Tuesday while the dollar and U.S. Treasury yields came under pressure, with just a day to go before the expected start of the Federal Reserve&#8217;s easing cycle that could see policymakers deliver an outsized rate cut.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>The S&amp;P 500 eked out a slight gain in a subdued session while the Nasdaq fell on Monday, weighed down by a drop in technology stocks as investors assessed the likelihood of an upsized rate cut from the U.S. Federal Reserve this week.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices hovered near a record high on Tuesday, ahead of the anticipated start of the U.S. interest rate reduction cycle, which could see policymakers deliver an outsized cut.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Exporters choose SA’s neighbours amid delayed port privatisation</p>



<p>&#8211; Ramaphosa in talks with Elon Musk about Starlink</p>



<p>(Compiled by Tannur Anders)</p>


istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Sept 17


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, Sept 17 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks wobbled on Tuesday while the dollar and U.S. Treasury yields came under pressure, with just a day to go before the expected start of the Federal Reserve&#8217;s easing cycle that could see policymakers deliver an outsized rate cut.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices extended gains on Tuesday as the market eyed U.S. output concerns in the aftermath of Hurricane Francine and expectations of lower U.S. crude stockpiles.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand gained on Monday against a weaker dollar, as markets geared up for a week packed with interest rate announcements and a local inflation print.</p>



<h2 class="wp-block-heading" id="h-nigeria-inflation">NIGERIA INFLATION</h2>



<p>Nigeria&#8217;s inflation rate fell for a second consecutive month in August, down to 32.15% year-on-year from 33.40% in July, statistics agency data showed on Monday.</p>



<h2 class="wp-block-heading" id="h-nigeria-petroleum">NIGERIA PETROLEUM</h2>



<p>Nigerian state oil firm NNPC Ltd on Monday increased the price of petrol by 11%, the second increase in two weeks and a day after it started purchasing the fuel from the giant Dangote oil refinery on the outskirts of Lagos.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>Kenya&#8217;s shilling was steady on Monday, and was expected to gain ground, bolstered by dollar inflows from tea exporters, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya-debt">KENYA DEBT</h2>



<p>Kenya&#8217;s auditor general has started to examine the country&#8217;s debt to ascertain the amounts owed to various creditors, Finance Minister John Mbadi told Reuters on Monday.</p>



<h2 class="wp-block-heading" id="h-ivory-coast-cocoa">IVORY COAST COCOA</h2>



<p>Cocoa arrivals at ports in top grower Ivory Coast had reached 1.733 million metric tons by Sept. 15 since the start of the season on Oct. 1, down 25.3% from the same period last season, exporters estimated on Monday.</p>



<h2 class="wp-block-heading" id="h-ghana-cocoa">GHANA COCOA</h2>



<p>Ghana has lost more than a third of its 2023/24 cocoa output to smuggling, a top official from the cocoa marketing board (Cocobod) told Reuters, as low local prices and payment delays push some farmers to sell to increasingly sophisticated trafficking rings.</p>



<h2 class="wp-block-heading" id="h-angola-oil">ANGOLA OIL</h2>



<p>Angola will load a total of 33 crude oil cargoes in November, a trade source citing a preliminary loading programme told Reuters.</p>


World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Sept 17


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-820x547.jpg" alt="" class="wp-image-373504" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-1110x740.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-696x464.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-1068x712.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-1920x1280.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/101416618-rand-600x400.jpg 600w" sizes="auto, (max-width: 820px) 100vw, 820px" /></figure>



<p>JOHANNESBURG, Sept 16 (Reuters)&nbsp;&#8211;&nbsp;The South African rand gained in early trade on Monday, as markets geared up for a week packed with interest rate announcements and a local inflation print.</p>



<p>At 0720 GMT, the rand traded at 17.66 against the dollar, about 0.6% firmer than its previous close.</p>



<p>&#8220;There are many moving parts to consider this morning that will have an important role to play in determining SA&#8217;s economic future over the next few months,&#8221; said ETM Analytics in a research note.</p>



<p>On Wednesday, local investors will look to South Africa&#8217;s August consumer inflation figures. Consumer inflation fell to 4.6% year-on-year in July, only just above the level the South African central bank aims for, 4.5%.</p>



<p>Another reading near the target would further cement expectations for a rate cut from the South African Reserve Bank (SARB) on Thursday. Economist polled by Reuters predict a 25 basis point cut.</p>



<p>&#8220;Most of this week&#8217;s attention will fall on the SARB&#8217;s interest rate decision&#8230; However, the domestic MPC (Monetary Policy Committee) is just one of three important central banks deciding on monetary policy,&#8221; ETM Analytics added.</p>



<p>The U.S. Federal Reserve will announce its policy decision on Wednesday. Markets are betting the central bank of the world&#8217;s biggest economy will cut rates but are divided on the size of the cut.</p>



<p>The Bank of England is expected to keep its main lending rate unchanged when it announces its decision on Thursday.</p>



<p>South Africa&#8217;s benchmark 2030 government bond also gained in early deals, as the yield slipped 6.5 basis points to 8.85%.</p>



<p>(Reporting by Tannur Anders; Editing by Alex Richardson)</p>


101416618-rand

South African rand gains, interest rates in focus this week


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Sept 16 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Monday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>The Johannesburg Stock Exchange will release data on foreigners&#8217; buying and selling of bonds and stocks during the previous week.</p>



<p>South Africa&#8217;s government will hold its weekly auction for Treasury bills.</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>The South African rand firmed on Friday against a weaker dollar, as markets weighed up bets on the size of a rate cut expected in the United States on Sept. 18.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed about 0.4% up.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks dithered and the dollar slipped on Monday in a week that is almost certain to see the start of an easing cycle in the United States, with investors flirting with the chance of an outsized move.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>Wall Street&#8217;s main indexes closed higher on Friday as investors homed in on the chance of a bigger interest rate cut by the Federal Reserve, with rate-sensitive small cap stocks outperforming.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices surged to record highs on Monday, driven by a softer dollar and expectations of a larger interest rate reduction by the U.S. Federal Reserve.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; Ramaphosa opens door to revisit NHI, tells Motsoaledi it is time to talk</p>



<p>&#8211; Transnet in court over multibillion-rand deal with Filipino ports giant at key Durban terminal</p>



<p>(Compiled by Tannur Anders; Editing by Peter Graff)</p>


South African Markets – Factors to watch on Sept 16


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, Sept 16 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>*Nigeria&#8217;s statistics office releases consumer inflation data for August.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks made a cautious start on Monday in a week that is almost certain to see the start of an easing cycle in the United States with the only question mark being the size of the cut, with markets split on the chance of an outsized move.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices edged up in early trade on Monday amid expectations of a U.S. interest rate cut this week, though gains were capped by weaker China data and persistent demand worries.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand firmed on Friday against a weaker dollar, as markets weighed up bets on the size of a rate cut expected in the world&#8217;s biggest economy next week.</p>



<h2 class="wp-block-heading" id="h-nigeria-petroleum">NIGERIA PETROLEUM</h2>



<p>Nigerian communities are claiming 505 billion naira ($310 million) in damages from Shell, which they accuse of breaching an existing court order by striking a deal to sell its onshore assets in the Niger Delta, court papers showed on Friday.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling  edged lower against the dollar on Friday, according to data from the London Stock Exchange Group (LSEG), though it remained within a stable range seen over the past month.</p>



<h2 class="wp-block-heading" id="h-kenya-electricity">KENYA ELECTRICITY</h2>



<p>Kenya has awarded a public-private partnership concession to build power transmission lines to India&#8217;s Adani Group and a unit of the African Development Bank, according to an economic advisor to the country&#8217;s president.</p>



<h2 class="wp-block-heading" id="h-kenya-imf">KENYA IMF</h2>



<p>A team of staff from the International Monetary Fund is visiting Kenya on a fact-finding trip, the IMF said late on Thursday, part of efforts to craft a way forward in the wake of deadly protests that scuppered the government&#8217;s planned tax hikes.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on Sept 16


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="549" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-820x549.jpg" alt="" class="wp-image-425202" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-820x549.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-134x90.jpg 134w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-768x514.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-1536x1028.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African Rand coins are seen in this photo illustration .  REUTERS/Mike Hutchings</figcaption></figure>



<p>JOHANNESBURG, Sept 13 (Reuters)&nbsp;&#8211;&nbsp;The South African rand was little changed in early trade on Friday, as markets weighed up bets on the size of a rate cut expected in the world&#8217;s biggest economy next week.</p>



<p>At 0804 GMT, the rand traded at 17.7550 against the dollar, near its Thursday closing level of 17.7625.</p>



<p>The dollar last traded softer against a basket of peers, as investors remained on tenterhooks ahead of next week&#8217;s Federal Reserve meeting.</p>



<p>While markets are certain the Fed will cut rates, uncertainty around whether it will go with a 25-basis-point or 50-basis-point cut remains.</p>



<p>On Friday, the rand will likely track developments in the lead up to the meeting. The risk-sensitive local unit often takes direction from global drivers like U.S. monetary policy in the absence of major local data points.</p>



<p>Next week, local investors will focus on August consumer inflation figures on Sept. 18 and the South African Reserve Bank&#8217;s (SARB) interest rate announcement on Sept. 19. Economists polled by Reuters predict the SARB will announce a 25 basis point rate cut.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index was up about 0.3% in early trade.</p>



<p>South Africa&#8217;s benchmark 2030 government bond also firmed in early deals, as the yield slipped 3 basis points to 8.97%.</p>



<p>(Reporting by Tannur Anders; Editing by Mrigank Dhaniwala)</p>


South African Rand coins are seen in this photo illustration

South African rand flat; markets focus on Fed rate cut next week


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Sept 13 (Reuters)&nbsp;&#8211;&nbsp;The following political and economic events, company announcements, equity and currency market moves may affect South African markets on Friday.</p>



<h2 class="wp-block-heading" id="h-political-events">POLITICAL EVENTS</h2>



<p>South Africa&#8217;s President Cyril Ramaphosa will sign a contested education bill into law.</p>



<p>Ramaphosa will engage with the media on the Seventh Administration and the government of national unity.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>South Africa&#8217;s government will hold its weekly auction of inflation-linked bonds.</p>



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



<p>Retailer Mr Price will host a capital markets day.</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>South Africa&#8217;s rand inched higher against a weaker dollar on Thursday, with the next big local drivers &#8211; inflation data and an interest rate decision &#8211; due next week.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed up more than 1.1%. South Africa&#8217;s benchmark 2030 government bond was little moved, the yield at 9%.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>The dollar slumped to its lowest this year on Friday versus the yen while gold hit a record high as investors ratcheted up bets for a super-sized Federal Reserve interest rate cut next week.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>Wall Street&#8217;s main indexes closed higher on Thursday after the latest inflation data reinforced expectations for a 25-basis point rate cut by the Federal Reserve, while Moderna&#8217;s weak revenue forecast made it the S&amp;P 500&#8217;s biggest percentage loser.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices soared to an all-time high on Friday as the dollar weakened amid the prospect of a reduction in U.S. interest rates, while palladium has gained 15% so far this week.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Pravin Gordhan, former minister and struggle veteran, has died</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; FirstRand opts for caution as it pencils in only three rate cuts for SA</p>



<p>&#8211; Radioactive waste, small reactors and geopolitics will shape SA&#8217;s nuclear plans</p>



<p>(Compiled by Tannur Anders; Editing by Mark Potter)</p>


South African Markets – Factors to watch on Sept 13


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>Sept 13 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>The dollar on Friday slumped against the yen while gold hit an all-time peak as investors ratcheted up bets for a super-sized Federal Reserve interest rate cut next week after media reports suggested the decision was a tough one for officials.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices rose on Friday, extending a rally sparked by output disruptions in the U.S. Gulf of Mexico, where Hurricane Francine forced producers to evacuate platforms before it hit the coast of Louisiana.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>South Africa&#8217;s rand inched higher against a weaker dollar on Thursday, with the next big local drivers &#8211; inflation data and an interest rate decision &#8211; due next week.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling was flat on Thursday despite a slight pickup in foreign-currency demand, and traders said it was expected to remain in a tight range.</p>



<h2 class="wp-block-heading" id="h-africa-markets">AFRICA MARKETS</h2>



<p>The Kenyan, Ugandan, Ghanaian and Zambian currencies are expected to be broadly stable in the next week to Thursday, while Nigeria&#8217;s could fall, traders said.</p>



<h2 class="wp-block-heading" id="h-un-africa">UN AFRICA</h2>



<p>The United States supports creating two permanent United Nations Security Council seats for African states and one seat to be rotated among small island developing states, U.S. Ambassador to the U.N. Linda Thomas-Greenfield announced on Thursday.</p>



<h2 class="wp-block-heading" id="h-senegal-politics">SENEGAL POLITICS</h2>



<p>Senegal President Bassirou Diomaye Faye on Thursday dissolved the opposition-led national assembly, clearing the way for early legislative elections on Nov. 17.</p>



<h2 class="wp-block-heading" id="h-africa-mpox">AFRICA MPOX</h2>



<p>The Africa Centres for Disease Control and Prevention (Africa CDC) is able to raise $600 million to fight a surging mpox outbreak on the continent, the agency&#8217;s head said on Thursday.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on Sept 13


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="429" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AU3TIBJDBBNTFCB7MP32IQ4O5A-1-820x429.jpg" alt="" class="wp-image-529778" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AU3TIBJDBBNTFCB7MP32IQ4O5A-1-820x429.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AU3TIBJDBBNTFCB7MP32IQ4O5A-1-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AU3TIBJDBBNTFCB7MP32IQ4O5A-1-160x84.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AU3TIBJDBBNTFCB7MP32IQ4O5A-1-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AU3TIBJDBBNTFCB7MP32IQ4O5A-1-1536x804.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/AU3TIBJDBBNTFCB7MP32IQ4O5A-1.jpg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A man counts Nigerian naira notes in a market place in Yola, Nigeria, February 22, 2023. REUTERS/Esa Alexander/File Photo</figcaption></figure>



<p>NAIROBI, Sept 12 (Reuters)&nbsp;&#8211;&nbsp;The Kenyan, Ugandan, Ghanaian and Zambian currencies are expected to be broadly stable in the next week to Thursday, while Nigeria&#8217;s could fall, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya">KENYA</h2>



<p>Kenya&#8217;s shilling is expected to be little changed in the coming week, extending a recent period of stability that has lasted about a month.</p>



<p>LSEG data quoted the shilling at 128.50/129.50 per dollar, compared with 128.25/129.25 at last Thursday&#8217;s close.</p>



<p>&#8220;We&#8217;re stuck within this range,&#8221; one trader said. &#8220;The shilling has reached a stable zone.&#8221;</p>



<p>The local unit rallied strongly early this year as concerns eased that the East African country would default on a $2 billion Eurobond that matured in June, but it lost momentum from April onwards.</p>



<h2 class="wp-block-heading" id="h-nigeria">NIGERIA</h2>



<p>Nigeria&#8217;s naira could lose ground due to rising foreign-currency demand, despite the country raising $900 million from a domestic dollar bond sale.</p>



<p>The naira was quoted at 1,650 to the dollar on the official market on Thursday, LSEG data showed, the same rate at which the currency was changing hands in street trading.</p>



<p>That compares with a closing rate of around 1,592 naira a week earlier.</p>



<p>&#8220;The dollar raise in itself does not translate to an appreciation, until the central bank puts out those dollars to the market,&#8221; one trader said, adding: &#8220;Demand is overpowering supply&#8221;.</p>



<p>The trader said if the central bank increases the size of its interventions on the currency market that could support the naira, but its interventions had been too small.</p>



<h2 class="wp-block-heading" id="h-ghana">GHANA</h2>



<p>Ghana&#8217;s cedi is seen trading relatively stable on the back of weak foreign-currency demand and continued central bank support.</p>



<p>LSEG data showed the cedi trading at 15.65 to the dollar versus 15.62 a week ago.</p>



<p>&#8220;The cedi traded relatively stable against the dollar in the past week, with very little interbank activity. Corporate demand has also decreased in the last few sessions,&#8221; said Sedem Dornoo, a senior trader at Absa Bank Ghana.</p>



<p>&#8220;We expect the pair to remain relatively stable in the coming week,&#8221; he added.</p>



<p>Another trader said the central bank&#8217;s interventions could anchor the pair in the short term.</p>



<h2 class="wp-block-heading" id="h-uganda">UGANDA</h2>



<p>Uganda&#8217;s shilling is seen trading in a tight range in the coming days, underpinned by subdued demand for dollars as most firms reserve their local currency for mid-month tax payments.</p>



<p>Commercial banks quoted the shilling at 3,715/3,725 to the dollar, compared to last Thursday&#8217;s close of 3,716/3,726.</p>



<p>&#8220;Mid-month tax payments are around the corner, I anticipate some support for the local unit from that,&#8221; one trader said.</p>



<p>He said the local unit was likely to oscillate in the 3,700-3,730 range against the dollar in the next week.</p>



<h2 class="wp-block-heading" id="h-zambia">ZAMBIA</h2>



<p>Zambia&#8217;s kwacha is likely to hold steady, supported by companies selling dollars as they prepare to pay taxes.</p>



<p>On Thursday the kwacha was quoted at 26.25 per dollar from 26.30 a week ago.</p>



<p>&#8220;We have VAT (Value Added Tax) payments due mid-next week and this should support the local unit,&#8221; one financial analyst said.</p>



<p>(Reporting by Hereward Holland, Chris Mfula, Chijioke Ohuocha, Elias Biryabarema and Christian AkorlieEditing by Alexander Winning)</p>


AU3TIBJDBBNTFCB7MP32IQ4O5A (1)

Kenyan and Zambian currencies seen stable, Nigeria’s could weaken


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-820x461.jpg" alt="" class="wp-image-400641" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-1536x864.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A collection of mixed denomination South African rand coins sit in an arranged photo in Johannesburg, South Africa, on Thursday, June 22, 2017. South Africas inflation rate rose for the first time this year in May after food-price growth quickened from the slowest pace since December 2015. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



<p>JOHANNESBURG, Sept 12 (Reuters)&nbsp;&#8211;&nbsp;The South African rand was little changed in early trade on Thursday ahead of the release of local mining output figures and an inflation expectations survey.</p>



<p>At 0600 GMT the rand traded at 17.8925 against the dollar, not far from its previous close of 17.9050.</p>



<p>The rand has mainly tracked global markets this week, including closely watched U.S. inflation data and its implications for next week&#8217;s Federal Reserve meeting, but that could change on Thursday.</p>



<p>South Africa&#8217;s Bureau for Economic Research will release its third-quarter inflation expectations survey around 0800 GMT, showing how analysts, business people and trade union officials expect inflation to develop over the next three years.</p>



<p>Inflation expectations are an important data point for the central bank when it takes interest rate decisions. Its next decision is due to be announced on Sept. 19, with economists widely predicting the first rate cut in more than four years.</p>



<p>Statistics South Africa will publish July mining production numbers at about 0930 GMT.</p>



<p>Analysts polled by Reuters predict output will return to year-on-year growth after a decline in June, reflecting volatile conditions in Africa&#8217;s most industrialised economy.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was relatively flat, with the yield at 8.995%.</p>



<p>(Reporting by Alexander Winning; Editing by David Goodman)</p>


South African Economy As Inflation Rate Rises For First Time In 2017

South African rand stable before mining data and inflation survey


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, Sept 12 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>Africa&#8217;s top public health body the Africa Centres for Disease Control and Prevention (Africa CDC) briefs reporters on mpox outbreaks on the continent.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian shares bounced on Thursday, tracking a tech-driven rally on Wall Street, while the dollar held onto gains after U.S. core inflation surprised slightly on the upside and dashed hopes of a large rate cut by the Federal Reserve next week.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices rose during Asian trade on Thursday, spurred by concerns of Hurricane Francine impacting output in the U.S., the world&#8217;s biggest crude producer, though worries of lower demand capped gains.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand held on to gains against the dollar on Wednesday after U.S. inflation data reinforced expectations that the Federal Reserve will opt for a smaller 25 basis point rate cut at its policy meeting next week.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling was unchanged against the U.S. dollar on Wednesday, LSEG data showed, extending a recent period of stability that has lasted about a month.</p>



<h2 class="wp-block-heading" id="h-united-nations-africa">UNITED NATIONS AFRICA</h2>



<p>The United States supports creating two permanent United Nations Security Council seats for African states and one seat to be rotated among small island developing states, U.S. Ambassador to the U.N. Linda Thomas-Greenfield will announce on Thursday.</p>



<h2 class="wp-block-heading" id="h-kenya-airport">KENYA AIRPORT</h2>



<p>Workers at Kenya&#8217;s main international airport ended a day-long strike on Wednesday, a union official said, after they were assured by the government that a plan to lease the airport to an Indian company would only proceed with the union&#8217;s approval.</p>



<p>((Compiled by Nairobi Newsroom))</p>



<p></p>


African Markets – Factors to watch on Sept 12


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Sept 12 (Reuters)&nbsp;&#8211;&nbsp;The following political and economic events, company announcements, equity and currency market moves may affect South African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>July mining output figures</p>



<p>Q3 inflation expectations survey</p>



<h2 class="wp-block-heading" id="h-political-events">POLITICAL EVENTS</h2>



<p>President Ramaphosa answers questions in parliament</p>



<p>Democratic Alliance leader briefs reporters</p>



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



<p>FirstRand full-year results</p>



<p>Truworths full-year earnings</p>



<p>Sibanye Stillwater half-year results</p>



<p>Mr Price hosts capital markets day</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>The South African rand held onto gains against the dollar on Wednesday after U.S. inflation data reinforced expectations that the Federal Reserve will opt for a smaller 25 basis point rate cut at its policy meeting next week.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian shares bounced on Thursday, tracking a tech-driven rally on Wall Street, while the dollar was firm after U.S. core inflation surprised slightly on the upside and dashed hopes of a large rate cut by the Federal Reserve next week.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>All three major U.S. stock indexes closed higher on Wednesday with a boost from the technology sector offsetting investor disappointment at an inflation report.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices edged higher on Thursday, with traders focusing on upcoming U.S. economic data that may offer further insights into an expected reduction in the Federal Reserve&#8217;s interest rate next week.&nbsp;GOL/</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Job cuts send SA platinum supply back to pre-COVID levels</p>



<p>&#8211; Tax hit deters some two-pot withdrawals</p>



<p>(Compiled by Alexander Winning) </p>



<p></p>


South African Markets – Factors to watch on Sept 12


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/09/103026087-Rand.jpg" alt="Waldo Swiegers | Bloomberg | Getty Images" class="wp-image-381748" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/09/103026087-Rand.jpg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/103026087-Rand-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/09/103026087-Rand-696x391.jpg 696w" sizes="auto, (max-width: 740px) 100vw, 740px" /><figcaption class="wp-element-caption">Waldo Swiegers | Bloomberg | Getty Images
</figcaption></figure>



<p>JOHANNESBURG, Sept 11 (Reuters)&nbsp;&#8211;&nbsp;The South African rand edged higher against a weaker dollar in early trade on Wednesday, with the greenback on the defensive after a combative&nbsp;U.S. presidential debate.</p>



<p>Traders were also waiting nervously for a key U.S. inflation report later in the day that could provide clues on how aggressively the Federal Reserve cuts rates next week.</p>



<p>At 0600 GMT, the rand traded at 17.9050 against the dollar, about 0.2% stronger than Tuesday&#8217;s closing level.</p>



<p>The dollar was down around 0.3% against a basket of peers, as&nbsp;some currency analysts&nbsp;saw Kamala Harris winning the debate against rival Donald Trump.</p>



<p>Investors broadly see the dollar strengthening in the event of a victory by Trump, as tariffs might prop up the currency and higher fiscal spending could boost interest rates.</p>



<p>With no major economic data due in South Africa on Wednesday, the rand is likely to take its direction from moves on global markets.</p>



<p>South Africa&#8217;s benchmark 2030 government bond&nbsp;gained in early deals, with the yield down 5 basis points to 8.965%.</p>



<p>(Reporting by Alexander Winning; Editing by Andrew Heavens)</p>


Waldo Swiegers | Bloomberg | Getty Images

South African rand edges higher as dollar dips after US election debate


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, Sept 11 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>West Africa&#8217;s central bank, the BCEAO, is expected to announce its rate decision.</p>



<p>The Kenya Aviation Workers’ Union are due to start a strike notice on Wednesday about the planned lease of airport operations to the Indian company Adani Holdings.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian markets wobbled and U.S. stock futures slipped on Wednesday after Democratic Vice President Kamala Harris and Republican Donald Trump clashed in a keenly-awaited U.S. presidential debate.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Crude prices bounced on Wednesday as concerns about Tropical Storm Francine disrupting supply of oil outweighed worries about demand.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand weakened alongside other emerging market currencies on Tuesday, with markets looking to Wednesday&#8217;s U.S. inflation print for clues about the Federal Reserve&#8217;s interest rate path.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling was broadly steady against the U.S. dollar on Tuesday, with the supply of foreign exchange matched by demand from all sectors in a muted session, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya-strike">KENYA STRIKE</h2>



<p>The biggest union of Kenya&#8217;s aviation workers plans to go on strike on Wednesday to protest against a proposed deal for India&#8217;s Adani Group to lease the country&#8217;s main airport for 30 years in exchange for expanding it, a union official said on Tuesday.</p>



<h2 class="wp-block-heading" id="h-nigeria-floods">NIGERIA FLOODS</h2>



<p>Floods in north Nigeria have killed more than 80% of animals in a large zoo with an array of wildlife from lions and crocodiles to buffaloes and ostriches, the facility said on Tuesday.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on Sept 11


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="567" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-820x567.jpg" alt="" class="wp-image-502655" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-820x567.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-300x208.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-130x90.jpg 130w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-768x531.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-1536x1063.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African Rand coins are seen in this illustration picture taken October 30, 2020.  REUTERS/Mike Hutchings/File Photo</figcaption></figure>



<p>JOHANNESBURG, Sept 10 (Reuters)&nbsp;&#8211;&nbsp;The South African rand gained in early trade on Tuesday, ahead of domestic manufacturing data for July.</p>



<p>At 0618 GMT the rand traded at 17.8350 against the dollar, about 0.2% firmer than its previous close.</p>



<p>Statistics South Africa is due to publish the country&#8217;s manufacturing production data for July at 1100 GMT.</p>



<p>Economists polled by Reuters predict the manufacturing sector will register year-on-year growth after declining in June, reflecting volatile conditions in a key sector of Africa&#8217;s most industrialised economy.</p>



<p>The rand is also likely to take direction from dollar movements as markets await a U.S. inflation report on Wednesday for more clues about the size of a predicted Federal Reserve cut to interest rates next week.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was firmer in early deals, with the yield slipping by 1 basis point to 9.01%.</p>



<p>(Reporting by Tannur Anders; Editing by David Goodman)</p>


South African Rand coins are seen in this illustration picture

South African rand firms ahead of manufacturing data


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Sept 10 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Tuesday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>South Africa&#8217;s government will hold its weekly auction of long-term bonds.</p>



<p>Statistics South Africa will publish manufacturing production data for July.</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>The South African rand slipped against a stronger dollar on Monday, with looming U.S. data likely to dictate currency moves this week.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed slightly stronger, up 0.07%.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks inched slightly higher on Tuesday but struggled to sustain an upbeat rally on Wall Street as concerns about a faltering Chinese economy dampened the market mood.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>Wall Street&#8217;s three major indexes gained more than 1% on Monday as investors looked for bargains after the previous week&#8217;s sell-off while they also waited for inflation reports in coming days and the Federal Reserve&#8217;s next policy decision next week.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices eased on Tuesday, pressured by a firmer dollar, while traders braced for key U.S. inflation figures that could offer hints about the size of the Federal Reserve&#8217;s interest rate reduction next week.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Transnet’s R26bn trade-off to privatise Durban terminal</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; Godongwana fires broadside at financial sector as Land Bank ends default</p>



<p>(Compiled by Tannur Anders)</p>


South African Markets – Factors to watch on Sept 10


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-820x461.jpg" alt="" class="wp-image-400641" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-1536x864.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A collection of mixed denomination South African rand coins sit in an arranged photo in Johannesburg, South Africa, on Thursday, June 22, 2017. South Africas inflation rate rose for the first time this year in May after food-price growth quickened from the slowest pace since December 2015. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



<p>JOHANNESBURG, Sept 9 (Reuters)&nbsp;&#8211;&nbsp;The South African rand slipped against a stronger dollar in early trade on Monday, and analysts said the U.S. currency and economic data were likely to largely determine the rand&#8217;s trajectory this week.</p>



<p>At 0635 GMT, the rand traded at 17.8850 against the dollar, about 0.3% weaker than its previous close.</p>



<p>The dollar was up around 0.2% against a basket of global currencies, as markets looked to Wednesday&#8217;s U.S. inflation report for more clues about the size of a Federal Reserve rate cut expected next week.</p>



<p>U.S. producer inflation and consumer sentiment data are scheduled for release.</p>



<p>&#8220;Direction in currency markets will likely be taken from U.S. data releases,&#8221; ETM Analytics said in a research note, adding that a bigger Fed rate cut would likely boost the risk-sensitive rand&#8217;s prospects.</p>



<p>Local data points this week include July manufacturing output figures on Tuesday and mining production numbers on Thursday.</p>



<p>Economists polled by Reuters predict both sectors will register year-on-year growth after declines in June, reflecting volatile conditions in key sectors of Africa&#8217;s most industrialised economy.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was unchanged in early trade, the yield at 8.99%.</p>



<p>(Reporting by Alexander Winning; Editing by Gareth Jones)</p>


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Economy

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