GT247.com Trading Blog

What to look forward to this trading week

Written by Musa Makoni | 30 May 2017

Trading Specialist Musa Makoni at GT247.com breaks down our trading week

Follow @Makoni_Henry

Although we tried not to think about it, the ANC NEC meeting which took place over the weekend was firmly in the back of our minds. It is quite clear that the head of government has no intentions of stepping down before his term expires. The good thing is the market is open and it’s a brand new week, & with it comes another opportunity to make some profits. With that in mind, here are some significant events & data that you can look forward to in this week of trading.

 

  • Locally, investors are closely watching Moody’s for a possible ratings announcement on South Africa. Moody’s still has the country’s rating 2 notches above sub-investment grade. A downgrade will put more pressure in the Rand which is still recovering from the effects of the recent downgrades from Fitch and S&P.

 

  • In terms of economic data, we are expecting Trade Balance numbers on Wednesday. On Thursday, the Unemployment Rate data is expected and the forecast is that it will be recorded at 27.0%.  On the same day Barclays Africa will release the Manufacturing PMI number, and on Thursday, the Naamsa Vehicle Sales numbers will be in focus.

 

  • We cannot discount the influence of political factors, therefore we will be keeping our ears on the ground for any news particularly in relation to the President, as that could potentially move the markets.

 

  • Globally, the US, UK & Chinese markets will be closed on Monday but normalcy prevails from Tuesday onwards with the exception of China. From the USA, the all-important Non-Farm Payrolls is back in focus again this Friday. The outcome of the number might give reassurance to investors with regards to the timing of the US Fed interest rate increases. A better than expected number will give more incentive for a June rate hike.

 

  • Besides the Non-Farm Payrolls number, you can expect the weekly initial jobless claims and crude oil inventories numbers. On Thursday, you can expect Manufacturing PMI numbers from the Eurozone and the USA.

 

  • China is expected to release its Manufacturing PMI numbers on Wednesday. Commodity producers globally will be watching this number closely as it will give some insight into the health of the world’s biggest consumer of commodities.

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!

 
 
Header Image Credit: Times LIVE
 

Your Economic Calendar for today:

05/30/2017 01:30 AU Building Approvals MoM
05/30/2017 01:30 AU Building Approvals YoY
05/30/2017 06:00 GE Import Price Index MoM
05/30/2017 06:00 GE Import Price Index YoY
05/30/2017 06:00 SA Money Supply M3 YoY
05/30/2017 06:00 SA Private Sector Credit YoY
05/30/2017 06:45 FR Consumer Confidence
05/30/2017 06:45 FR Consumer Spending MoM
05/30/2017 06:45 FR Consumer Spending YoY
05/30/2017 06:45 FR GDP QoQ
05/30/2017 06:45 FR GDP YoY
05/30/2017 07:00 GE CPI Saxony MoM
05/30/2017 07:00 GE CPI Saxony YoY
05/30/2017 08:00 GE CPI Brandenburg MoM
05/30/2017 08:00 GE CPI Brandenburg YoY
05/30/2017 08:00 GE CPI Hesse MoM
05/30/2017 08:00 GE CPI Hesse YoY
05/30/2017 08:00 GE CPI Bavaria MoM
05/30/2017 08:00 GE CPI Bavaria YoY
05/30/2017 08:30 GE CPI North Rhine Westphalia MoM
05/30/2017 08:30 GE CPI North Rhine Westphalia YoY
05/30/2017 09:00 EC Economic Confidence
05/30/2017 09:00 EC Business Climate Indicator
05/30/2017 09:00 EC Industrial Confidence
05/30/2017 09:00 EC Services Confidence
05/30/2017 09:00 EC Consumer Confidence
05/30/2017 12:00 SA South Africa Budget
05/30/2017 12:00 GE CPI MoM
05/30/2017 12:00 GE CPI YoY
05/30/2017 12:00 GE CPI EU Harmonized MoM
05/30/2017 12:00 GE CPI EU Harmonized YoY
05/30/2017 12:30 CA Current Account Balance
05/30/2017 12:30 US Personal Income
05/30/2017 12:30 US Personal Spending
05/30/2017 12:30 US Real Personal Spending
05/30/2017 12:30 CA Industrial Product Price MoM
05/30/2017 12:30 US PCE Deflator MoM
05/30/2017 12:30 CA Raw Materials Price Index MoM
05/30/2017 12:30 US PCE Deflator YoY
05/30/2017 12:30 US PCE Core MoM
05/30/2017 12:30 US PCE Core YoY
05/30/2017 13:00 US S&P CoreLogic CS 20-City MoM SA
05/30/2017 13:00 US S&P CoreLogic CS 20-City YoY NSA
05/30/2017 13:00 US S&P CoreLogic CS 20-City NSA Index
05/30/2017 13:00 US S&P CoreLogic CS US HPI YoY NSA
05/30/2017 13:00 US S&P CoreLogic CS US HPI NSA Index
05/30/2017 14:00 US Conf. Board Consumer Confidence
05/30/2017 14:00 US Conf. Board Present Situation
05/30/2017 14:00 US Conf. Board Expectations
05/30/2017 14:30 US Dallas Fed Manf. Activity
05/30/2017 23:01 UK GfK Consumer Confidence
05/30/2017 23:01 UK Lloyds Business Barometer
05/30/2017 23:01 UK BRC Shop Price Index YoY
05/30/2017 23:50 JN Industrial Production MoM
05/30/2017 23:50 JN Industrial Production YoY
05/30/2017 GE CPI Baden Wuerttemberg MoM
05/30/2017 GE CPI Baden Wuerttemberg YoY