South Africans futures followed the lower JSE and weaker Dow on Tuesday, as earlier disappointing Chinese economic data put pressure on global energy and mining shares. A fall in most commodity prices followed data for October showing the weakest increase in Chinese money supply on record. This deepened losses sustained on Monday, when the International Energy Agency (IEA) said the current oil price rally could be short lived, reported Dow Jones Newswires. Local miners were also put under pressure by a firmer rand, which tracked euro gains following upbeat German economic data. Analysts said the rand was vulnerable to further local political headlines, as forces within the ANC do battle ahead of the party’s elective conference in December. Wednesday sees a number of local and global data releases that could move the rand, including the US consumer inflation figures for October. The inflation gauge is expected to come in at 2%, compared to 1.6% in the same month in 2016, and will be ...
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