With the first round of the French electi ons behind us, the euro seems to have kicked up against other major currencies although the rand had held its own on that front.
It’s looking a little more stable on the political front back home, although we still need to hear what the courts have to say about the speaker allowing a secret ballot for the no-confidence vote, and a new date.
Other than that, it’s a pretty short week.
Thursday is a public holiday and we’re unlikely to see much movement on Friday. However, in these uncertain times it’s always worth keeping a close eye on domestic and international developments because one never knows what’s next.
For the week ahead:
Monday, 24 April
Anglo American AGM
March liquidations Stats SA
Tuesday, 25 April
SARB publishes leading indicator
Kumba Iron Ore Q1 production update
Wednesday, 26 April
March producer price index numbers from Stats SA
Thursday, 27 April
Public holiday – Freedom Day
Friday, 28 April
March trade statistics – SARS
- Source: Business Times
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While political tensions brew on Twitter and across the Pacifi c, uncertainty around what the US will do next seems to be backing the rand favourably.
The UK has also issued an emergency statement alert which sent the pound tumbling. There are many rumours doing the rounds so best to watch developments closely on that front.
France is also worth keeping an eye on from the international front. Voter despondency seems to have settled in on the French so the vote could swing any which way. While several polls are predicting a Macron win, events such as Brexit and the US elections last year indicate that a ‘wait and see’ approach is probably best.
Back home, political tensions seem to have mellowed down. The vote of no confidence postponed due to the UDM’s application with the ConCourt for a secret ballot.
New Finance Minister, Malusi Gigaba, is in the US this week for an investor roadshow.
The week ahead
Tuesday, 18 April
PSG Group annual
Wednesday, 19 April
Pick ‘n Pay annual results
March CPI figures (Stats SA)
US Fed – Beige Book of economic conditions issued
Thursday, 20 April
Astrapak annual results
Feb figures of civil cases for debt (Stats SA)
Friday, 21 April
Clicks Group interim results
IMF/World Bank annual spring meeting in Washington (ends 23 April)
- Data source: Business Times
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