South African Markets - Factors to watch on Sept. 17

  • Reuters
  • Stock Market News
South African Markets - Factors to watch on Sept. 17
Credit: © Reuters.

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.

ECONOMIC EVENTS

- The South African Reserve Bank to announce its interest rates decision on Thursday.

COMPANIES

- South Africa's Woolworths (ASX: WOW ) ( WHLJ.J ) reports annual results.

AFRICAN MARKETS

South Africa's rand rallied to a six-month high on Wednesday, shaking off poor retail sales data as expectations of continued lower rates in the United States fed risk demand globally.

In the equities market, stocks dipped as data showed domestic retail sales for July slumped by more than expected adding to worries about a wobbly post-pandemic economic recovery. 

GLOBAL MARKETS

Stocks fell and the dollar advanced on Thursday after the Federal Reserve pledged to keep interest rates low for a long time but stopped short of offering further on stimulus to shore up a battered U.S. economy.

WALL STREET

The S&P 500 ended lower on Wednesday, reversing gains late in the day as losses in technology shares outweighed a Federal Reserve statement that stoked optimism it would keep U.S. interest rates near zero for a prolonged period. 

GOLD ( XAU= )

Gold prices fell more than 1% on Thursday as the dollar climbed after the U.S. Federal Reserve painted a favourable economic recovery picture but stopped short of offering concrete signals on further stimulus.

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