Daily Market Commentary Flash Note – 13 July 2021

Currencies The rand recovers from its weakest levels above 14.5000 but remains on the back foot.
CommoditiesBrent crude oil marking a touch above $75.30 per barrel; Gold is just below $1,810 per ounce.
EquitiesUS stocks advanced to fresh all-time highs on earnings expectations ahead of JPM and GS, which kick off the earnings flurry today.
DateRegionEventActual/Expected/PriorImplications
07/12SAManufacturing production35.3%/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 | 2021-07-13T09:34:18+02:00 July 13th, 2021|Markets and Research|0 Comments

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