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 closely monitored as the Federal Reserve considers a third interest-rate increase this year, and three next year.

Locally, on Wednesday, retail sales for September are expected to have moderated from Augusts’s 5.5% growth, due to higher fuel prices.

The all share closed 0.51% lower at 59‚518.90 points and the blue-chip top 40 lost 0.48%. The gold index shed 3.81%‚ platinums 3.55%‚ resources 2.31%, and general retailers 0.44%. Food and drug retailers gained 0.07% and property 0.23%.

At 5.57pm, the Dow was off 0.45% and the Nasdaq 0.43%, the FTSE 100 0.19%, the CAC 40 0.71% and the DAX 30 0.46%.

At the same time platinum had lost 0.8% to $924.64 an ounce and gold was flat at $1,278.27, while Brent crude had dropped 2.36% to $61.61 a barrel.

The top-40 Alsi futures index fell 0.67% to 53,605 points. The number of contracts traded was 23,469 from Monday’s 22,558.

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