Gold dropped ahead of the Federal Reserve’s annual Jackson Hole symposium, Nickel hit its highest since November.
|Equities||Equity markets traded higher as trade talks between the US and China progressed.|
|26/08||SA||CPI YoY||3,2%/ 3%/ 2,2%|
CPI came in higher than expected however still well below SARB historical target range of 4,5%. Lower inflation supports the likelihood of the SARB maintaining low interest rates into 2021.
|US||Durable Goods Orders||11,2%/ 4,8%/ 7,6%|
Durable goods rose by more than double estimates amid a continued surge in automobile demand, indicating factories will help support the economic rebound in months.
|SA||PPI YoY||PPI likely to rise on increasing fuel costs.|
|SA||SA Unemployment||-/ 35%/ 30,1%||Unemployment levels expected to rise due to the impact of lockdown restrictions resulting in several businesses closing down or reducing staff members.|
Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091
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