Global markets’ focus on Thursday is the US consumer inflation reading, with anything below 1.8% expected to pull the dollar lower. A weaker dollar could hit rand hedge stocks on the JSE. Asian markets trading ahead of the JSE’s open were mildly lower on Thursday morning, with risk aversion evaporating this week. But the local market has also been grappling with disappointing economic data, and Moody’s warnings this week about certain sectors — such as mining — as well as the need for reforms to kick-start growth if SA is to avoid another ratings downgrade. On Wednesday the JSE all share fell 0.38% and the top 40 dropped 0.37%. General retailers fell 1.38%. Data released on Wednesday showed retail sales growth was slower than expected in July, and sales in the general retailers category fell compared with a year earlier. Food and drug retailers added 0.96%, though, and the gold index was up 0.32%. Spot gold was little changed in Asian trade on Thursday, down just 0.1% at $1,321.66/o...
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