Copyright tradingview
The following scheduled economic events, equity and currency market moves may affect South African markets on Monday. ECONOMIC EVENTS Foreigners' trading in South African bonds and equities October Absa manufacturing sector PMI Treasury bill auction October Car sales SOUTH AFRICAN MARKETS The South African rand weakened this week, along with other emerging market currencies, as the dollar firmed on uncertainty over further U.S. rate cuts following the Federal Reserve's more conservative positioning on interest rates. On the Johannesburg Stock Exchange, the Top-40 index SA40 was last down 0.4%. GLOBAL MARKETS Asian stocks rose on Monday as the U.S.-China trade truce and soaring spending on artificial intelligence kept risk sentiment aloft, while the dollar held near a three-month high after hawkish comments from Federal Reserve policymakers. WALL STREET Wall Street's main stock indexes closed higher on Friday, with their biggest boost coming from Amazon's upbeat earnings forecast, but sentiment was dampened by worries that the Federal Reserve is becoming more cautious about cutting rates. Gold held steady on Monday, kept in check by a stronger dollar as investors dialed back bets for further Federal Reserve rate cuts following Chair Jerome Powell's hawkish remarks last week, while easing U.S.-China trade tensions also crimped demand for bullion. EMERGING MARKETS For the top emerging markets news, double click on Some of the main stories out in the South African press: BUSINESS DAY - SA targets lucrative Asian markets for export growth - Kganyago advocates 3% inflation as pro-poor policy - New 2.5 billion rand Chinese-backed steel mill rises in Nigel amid industry collapse
