|Currencies||The rand trades on the back foot as local factors weigh on the currency.|
|Commodities||Brent crude oil has fallen back below $74,50 per barrel; Gold is marking a touch above $1,775 per ounce.|
|Equities||US banks rush to increase dividends and introduce new buybacks after the success of the latest stress tests, which along with Facebook’s success against the FTC lawsuit, sees markets at new highs.|
|28/06||SA||BER Consumer Confidence||-13/–/-9.0||Consumer confidence dropped to -13 in 2Q21 due to a deterioration in the economic outlook (dropped to -14 from -5) and time to by durable goods (dropped to -36 from -32) sub-indices.|
|29/06||JN||Jobless Rate||3.0%/2.9%/2.8%||The jobless rate accelerated to 3% in May as less people search for jobs given the extended state of emergency; the increase in unemployment can also be explained by the increase in people giving up their jobs on a voluntary basis.|
|01/07||SA||Absa Manufacturing PMI||–/56.0/57.8||Adverse effects from load shedding might weigh on the index.|
Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091
If you are looking for other relevant market commentary, you might find Markets and Research relevant as well.