Daily Market Commentary Flash Note – 27 August 2020

Currencies

Rand loses ground.

Commodities

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.

 

Date Region Event Actual/Expected/Prior Implications
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.

26/08

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.

27/08

SA PPI YoY

-/ 1,3%/ 0,5%

PPI likely to rise on increasing fuel costs.

31/08

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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Source: Nedbank

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By | 2020-08-28T09:15:12+02:00 August 27th, 2020|Markets and Research|0 Comments

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