Daily Market Commentary Flash Note - 17 September 2020

Currencies

Rand loses ground on the Fed’s outlook.

Commodities

Oil edged below $40 a barrel with a stronger dollar after the biggest surge since June following a surprise drop in US crude stockpiles.

Equities

S&P futures trading -2% from our close, and DXY trading higher at 93.50. Tencent -1.8%, while commodities all lower: oil -1.5% and gold -0.9%.

Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091

Source: Nedbank

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Daily Market Commentary Flash Note – 17 September 2020