Daily Market Commentary Flash Note – 12 July 2021

Currencies The rand loses ground as local protest action escalates.
CommoditiesBrent crude oil remains within touching distance of $75.50 per barrel; Gold remains above $1,800 per ounce.
EquitiesTop40 +1.89%; European stocks advanced; The S&P 500 Index closed at a fresh record; Asian equities rose, led by gains in China and Japan.
DateRegionEventActual/Expected/PriorImplications
07/12SAManufacturing production–/46.8%/87.9%Manufacturing production is expected to increase by 1.2% m/m.
07/14SARetail sales–/12.5%/95.8%As a result of a higher sales base in May 2020 when government extended the list of permissible goods.
07/14UKCPI–/2.2%/2.1%Higher fuel prices.
07/14USPPI–/6.7%/6.6%Inflation driven by commodity prices and supply constraints.

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

Source: Nedbank

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By | 2021-07-12T10:05:23+02:00 July 12th, 2021|Markets and Research|0 Comments

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