Skip to content

Important Notice: IG Markets South Africa will no longer provide Trading Accounts. This change does not affect existing International/offshore accounts. New applications will be supported by IG International, part of IG Group, via https://www.ig.com/en. Important Notice: IG Markets South Africa will no longer provide Trading Accounts. This change does not affect existing International/offshore accounts. New applications will be supported by IG International, part of IG Group, via https://www.ig.com/en.

The Week Ahead

Read about upcoming market-moving events and plan your trading week

I consent to receive electronic communications from IG and IG Group companies about trading ideas and their product and services.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

Shaun Murison

Our weekly report is compiled by in-house senior market analyst, Shaun Murison.

Shaun has worked in financial markets for over ten years. As market analyst, he presents our CFD trading seminars around the country. In addition, Shaun is a regular commentator on the local financial markets, contributing to various media (such as CNBC Africa and Business Day) and writing daily and weekly market reports. He is a registered person at the JSE as well as a Certified Financial Technician (CFTE). You can follow Shaun on Twitter at @ShaunMurison_IG for regular market updates and insight.

The Week Ahead

26-30 May

Local

Headline consumer price index (CPI) inflation for April 2025 rose slightly to 2.8%, up from 2.7% in March, indicating a modest increase in inflationary pressure. Inflation remains relatively low compared to previous years, with expectations that it will stay contained in the near term, though medium-term risks remain due to food, electricity, water, insurance, and wage pressures.

International

U.S. debt and fiscal deficit concerns have intensified following a combination of rising debt projections, a controversial Republican spending bill, and a recent credit rating downgrade by Moody's. The Congressional Budget Office projects that without policy changes, U.S. federal debt will rise to about 117% of GDP by 2035, but under the Republican "megabill" currently being considered in the House, debt could escalate to 125% or more of GDP, depending on the duration of tax cuts included in the legislation.

The House Republican spending proposal, dubbed the "big beautiful bill," is projected to add between $3 trillion and $5 trillion to the national debt over the next decade. Some projections suggest debt could reach 205% of GDP if all temporary provisions become permanent, far exceeding the 156% expected if current laws remain unchanged. This bill has sparked intense debate on Capitol Hill due to its potential to widen the deficit and increase inflationary pressures.

The combination of soaring debt projections, the large and contentious spending bill, and Moody's downgrade has heightened investor anxiety about U.S. fiscal sustainability. This has led to elevated Treasury yields and market volatility, with analysts warning that the proposed legislation could exacerbate the ongoing sell-off in the bond market by raising long-term Treasury yields and increasing borrowing costs. Concerns are mounting that the U.S. government's borrowing costs and deficit trajectory could pose significant economic risks if not addressed.

bar graph displaying global indices Source: IG Charts
bar graph displaying global indices Source: IG Charts

The Rand

The rand’s strengthening this past week reflects a combination of easing U.S. monetary policy expectations, weaker U.S. economic growth data reducing dollar demand, improved global risk appetite, and cautious optimism about South Africa’s fiscal and political outlook. However, ongoing domestic political uncertainties and structural challenges still limit the rand’s upside potential in the near term.

Bar graph displaying south african rand forex pairs Source: IG charts
Bar graph displaying south african rand forex pairs Source: IG charts

Commodities

Platinum's price rise this week is mainly due to persistent supply shortages exacerbated by South African mining disruptions, sustained deficits reducing inventories and safe-haven demand amid global economic uncertainties.

The World Platinum Investment Council (WPIC) and Metals Focus reported that platinum is experiencing its third consecutive year of supply deficit, with estimates of around 966,000 ounces for 2025, up from previous projections. This deficit is being driven by weakening supply, particularly from South Africa, where rainfall disruptions have significantly affected mining operations at major producers including Impala Platinum and Anglo American Platinum. First-quarter mined supply declined 13% year-on-year, reaching the lowest levels seen since before the COVID-19 pandemic.

Source: IG charts
Source: IG charts

Companies

Graph comparing the johannesburg stock exchange indices Source: IG charts
Graph comparing the johannesburg stock exchange indices Source: IG charts

Company announcements

Date

Company Name

Event Type

26 May 2025

Pick N Pay Stores Ltd

Earnings Release

26 May 2025

Barloworld Ltd

Earnings Release

26 May 2025

Raubex Group Ltd

Earnings Release

26 May 2025

Altron Ltd

Earnings Release

27 May 2025

Pepkor Holdings Ltd

Earnings Release

27 May 2025

Datatec Ltd

Earnings Release

27 May 2025

Zeda Ltd

Earnings Release

27 May 2025

Stefanutti Stocks Holdings Ltd

Earnings Release

27 May 2025

Ellies Holdings Ltd

Earnings Release

28 May 2025

Tiger Brands Ltd

Earnings Release

28 May 2025

Reunert Ltd

Earnings Release

28 May 2025

Emira Property Fund Ltd

Earnings Release

28 May 2025

Octodec Investments Limited

Regular Dividends - Cash

28 May 2025

Redefine Properties Ltd

Regular Dividends - Cash

28 May 2025

Compagnie Financiere Richemont SA

Regular Dividends - Cash

29 May 2025

Lewis Group Ltd

Earnings Release

29 May 2025

Huge Group Ltd

Earnings Release

29 May 2025

Adcorp Holdings Ltd

Earnings Release

29 May 2025

Delta Property Fund Ltd

Earnings Release

30 May 2025

Dis-Chem Pharmacies Ltd

Earnings Release

30 May 2025

Santova Ltd

Earnings Release

Economic calendar

Date

Time

Region

Event

Previous

28 May 2025

8:00pm

USD

FOMC Meeting Minutes

29 May 2025

11:30am

ZAR

PPI m/m

0.5%

29 May 2025

11:30am

ZAR

PPI y/y

0.6%

29 May 2025

3:30pm

ZAR

Prime Overdraft Rate

11.0%

29 May 2025

3:30pm

ZAR

Interest Rate Decision

7.5%

29 May 2025

2:30pm

USD

Prelim GDP q/q

-0.3%

29 May 2025

2:30pm

USD

Unemployment Claims

227K

29 May 2025

9:00pm

GBP

BOE Gov Bailey Speaks

30 May 2025

All Day

EUR

German Prelim CPI m/m

0.4%

30 May 2025

2:00pm

ZAR

Balance of Trade

R24.77B

30 May 2025

2:30pm

USD

Core PCE Price Index m/m

0.0%

31 May 2025

3:30am

CNY

Manufacturing PMI

49.0

Open an account now

*Demo accounts are only available for spread betting and CFD trading.

Open an account now

Fast execution on a huge range of markets

Enjoy flexible access to 17,000 global markets, with reliable execution

React faster with powerful technology

Our platform and apps are intuitive and highly responsive, so trading opportunities are always within reach

Grow your confidence with an established provider

We’re a FTSE 250 company that’s been leading our industry for nearly 50 years, so our expertise is second to none

*Demo accounts are only available for spread betting and CFD trading.

Open an account now

Open an account now

Fast execution on a huge range of markets

Enjoy flexible access to 17,000 global markets, with reliable execution

React faster with powerful technology

Our platform and apps are intuitive and highly responsive, so trading opportunities are always within reach

Grow your confidence with an established provider

We’re a FTSE 250 company that’s been leading our industry for nearly 50 years, so our expertise is second to none

Start trading now

Log in to your account now to access today’s opportunity in a huge range of markets.

Start trading now

Log in to your account now to access today’s opportunity in a huge range of markets.