What to look forward to this week
Last week was slightly mixed with headlines being grabbed by President Donald Trump’s statement after the protests in Charlotteville. It was a busy week in terms of local earnings with a number of companies releasing their results. With the South African economy in a technical recession, any set of good results is a welcome development at this stage as many indications show South African companies are struggling to remain profitable. It’s not all doom and gloom, metal commodities are in a very strong bull trend and some “experts” are calling for a bottom in the US Dollar. Thankfully with GT247.com you can take advantage of these moves on any of our trading platforms.
You can download our MobiTrader application and trade on the go here:
Below are a few important events that you can look forward to this week:
- Monday is a relatively quiet day in terms of economic data with nothing significant expected locally as well as from the international markets. However on the JSE, Sasol is expected to release its results and the market will be watching those numbers closely.
- On Tuesday, Shoprite is expected to release its results which should be quite interesting given the current weak consumer spending environment. Shoprite does have the advantage of having stores outside the South African boarders so this might work in their favour. In terms of economic data, Canada is expected to release its Retail Sales numbers therefore Loonie (USD/CAD) traders should be on the lookout for this data. We are also expecting low impact data from the Eurozone and the USA.
- Wednesday brings into focus Manufacturing and Services PMI numbers from the world’s biggest financial centres. From the USA, you can also expect New Home Sales numbers as well as the weekly Crude Oil Inventories numbers. Locally, Woolworths is expected to release its results and StatsSA is expected to release CPI data which is expected to be at 4.6%.
- Thursday shines the spotlight on the United Kingdom which is expected to release its second estimate of GDP quarter-on-quarter. The USA will release its weekly Initial Jobless Claims numbers as well as the Existing Home Sales numbers. On the JSE, Bidcorp is expected to release its results.
- On Friday, Japan is expected to release to sets of CPI data, the National Core CPI y/y and Tokyo Core CPI y/y. The USA is expected to release Durable Goods Orders and later on that evening US Fed Chair, Janet Yellen is expected to give a speech which should result in some volatility in the US Dollar.
Be on the lookout for possible trading statements from various JSE listed companies. Unfortunately there is no way of forecasting their release.
Read our Upcoming Results Release peice published last week for insight from Mark Ingham on this weeks releases: /upcoming-jse-results-18-august-2017
We will be keeping tabs on the events in the markets. Check out our blog for market updates, insights from our GT247.com team, and our independent analysts. Not sure about a trade? Call the GT247.com Trading Desk on 087 940 6102, and bounce your idea off one of our dedicated traders.
Until next week, we wish you profitable trading!
Musa Makoni | Trading Specialist at GT247.com
