Today we are taking a look at:

• Price action on Brent indicates upward move likely despite fundamentals, OPEC production at record and spare capacity concentrated among ‘under-producers’ as short term deal unlikely
• Rand gains in line with other EM FX, majors range bound, eyes on ABInBev transaction
• JSE tracked global markets lower, US stocks upbeat following strong consumer confidence, Asia negative this morning
• US house prices continue steady gains but push affordability, consumer confidence rises to highest since 2007