Daily Market Commentary Flash Note – 14 July 2021

Currencies The rand is firmly on the back foot as a result of the deteriorating local outlook and a resurgent USD.
CommoditiesBrent crude oil moved back above $76 per barrel on concerns over supplies.
EquitiesTop40 -0.2%; We ended lower, but this was not a true reflection of the underlying sectors; The domestic space was under immense pressure, with banks and retailers in the firing line, as we continued to track headlines of looting/protesting spreading.
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 | 2021-07-14T09:46:34+02:00 July 14th, 2021|Markets and Research|0 Comments

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