Slightly lower closes from US markets overnight should keep us subdued once again on the local front, with Asian markets trading mostly lower this morning. Tencent is due to report Q2 numbers this morning after the Hong Kong market’s close, while the stock is currently trading 1.3% lower. The Rand was last at R10.63/$ with gold at $1,309 an ounce. World futures are trading +0.2%.
Key macro events:
- SA: Retail sales Y/Y – expected: 2%
- US: MBA Mortgage applications
- US: Retail sales
- US: Business inventories