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