South African Markets - Factors to watch on Oct 4
Oct 4 (Reuters) - The following scheduled economic events, equity and currency market moves may affect South African markets on Tuesday.
Weekly bond auction by South Africa's Treasury
The South African Reserve Bank releases its biannual Monetary Policy Review
SOUTH AFRICAN MARKETS
South Africa's rand firmed on Monday as the U.S. dollar traded lower due to moderating interest rate hike expectations.
Stocks on the Johannesburg Stock Exchange (JSE) closed slightly higher, with the benchmark all-share .JALSH and the Top-40 .JTOPI indexes both rising around 0.8%.
Asian stocks bounced on Tuesday after Britain scrapped bits of a controversial tax cut plan, tentatively improving global market sentiment and rallying bonds and the pound.
Wall Street's three major indexes rallied to close over 2% on Monday as U.S. Treasury yields tumbled on weaker-than-expected manufacturing data, increasing the appeal of stocks at the start of the year's final quarter.
Gold prices steadied near a three-week high on Tuesday, as lower U.S. Treasury yields partially offset pressure from inflation-fearing Federal Reserve and other major central banks that raced each other to ramp up borrowing rates.
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Some of the main stories out in the South African press:
- SA in danger of losing crown as Africa’s vehicle hub, warns Naamsa
- Numsa-linked 3Sixty Life placed under final curatorship
- Transnet, French giant take first step to address state capture locomotive deal (Compiled by Bhargav Acharya)
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