Daily Market Commentary Flash Note – 28 June 2021

Currencies The President imposes lockdown level 4 as covid-19 cases spike.
CommoditiesBrent crude oil back below $76 per barrel; Gold is marking a touch below $1,780 per ounce.
EquitiesTop40 -0.1%; European equities ended slightly higher on Friday; US stocks moved further into record territory on Friday; Asian equities drifted lower.
DateRegionEventActual/Expected/PriorImplications
25/06USPersonal Income-2.0%/-2.5%/-13.1%Personal income dropped by 2% due to reduced government social benefits (down -$562.3b), resulting from lower payments from the American Rescue Plan.
25/06USPersonal Spending0.0%/0.4%/0.9%Personal spending was driven by a $74.3b increase in services spending offset by a drop of -$71.5b in goods spending.
25/06USPCE Deflator0.4%/0.5%/0.6%Driven by higher energy and food prices.
28/06SABER Consumer Confidence–/–/-9.0Higher food and transport costs may weigh on consumer confidence.
01/07SAAbsa Manufacturing PMI–/56.0/57.8Adverse effects from load shedding might weigh on the index.

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

Source: Nedbank

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By | 2021-06-29T09:52:06+02:00 June 28th, 2021|Markets and Research|0 Comments

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