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Your Monday Wake Up Call 13 August 2018

Musa Makoni

An emerging market currency rout is currently underway due to the slump in the Turkish Lira. As of Monday morning, we have seen the rand slide as low as R15.55/$ as investors flee from emerging market currencies. There are still risks within the short to medium-term as we expect ratings agencies to downgrade Turkey’s sovereign rating to junk which could potentially intensify the sell-off in Turkish government bonds and currency. Headlines will continue to be dominated by Turkey for the coming few weeks and the movements on the JSE will mostly be reacting to external forces. A couple of companies are expected to release earnings this week and we are also expecting significant economic data both locally and internationally. I have highlighted some of the key events below.


  • We are not expecting any economic data on Monday. Locally, KAP Industrial Holdings is expected to release its earnings results.
  • China is expected to release Fixed Asset Investment, Industrial Production, Retail Sales and Unemployment Rate data early on Tuesday morning. From Japan we are expecting the release of revised Industrial Production data before attention shifts to Germany at 8am for the release of GDP and CPI data. At 10.30am, the United Kingdom is expected to release its Average Earnings Index data as well as its Unemployment Rate data. At 11am we are expecting GDP and Industrial Production numbers from the Eurozone. Locally, we are expecting earnings results for Curro Holdings and Capital &Regional. In terms of economic data, are expecting Mining Production data for June including the individual data for Gold and Platinum production.
  • On Wednesday morning at 10.30am, we are expecting CPI and PPI data for the United Kingdom. In the USA, we are expecting Retail Sales, Industrial Production and Capacity Utilization data at 2.30pm. We are also expecting the weekly Crude Oil Inventories numbers 4.30pm. Locally, we are expecting Retail Sales data for the month of June at 1pm.
  • On Thursday a number of JSE listed companies are expected to release their earnings results namely, Gold Fields, Standard Bank, Truworths, City Lodge Hotels, Exxaro Resources and Metair Investments. In terms of economic data we expect Trade Balance data from Japan and Europe, whilst at 10.30am we are expecting Retail Sales numbers for the United Kingdom. The USA is expected to release Building Permits, Housing Starts and the weekly Initial Jobless Claims numbers.
  • On Friday we are expecting Current Account data for the Eurozone at 10am, and at 11am we expect CPI data for the same region. That afternoon at 2.30pm we are also expecting CPI data for Canada. Locally we are expecting earnings results for Resilient.

We will be keeping tabs on the events in the markets. Check out our blog for market updates, insights from our team, and our independent analysts. Not sure about a trade? Call the Trading Desk on 087 940 6102, and bounce your idea off one of our dedicated traders.

Until next week, we wish you profitable trading!

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