Daily Market Commentary Flash Note – 16 July 2021

Currencies The rand holds steady as the levels of unrest and looting subside, currently trading at 14.5500.
CommoditiesBenchmark crude oil prices continued to retreat from the highs seen earlier in the week; Gold was little changed.
EquitiesTop40 closed -0.5% as the market drifted lower as various corporates released updates on losses incurred from this week’s unrest.
EconomicsUS Empire Manufacturing rose to 43.0 in July, from 17.4 previously, Industrial production rose by 0.4% m/m in June; Chinese GDP grew by 7.9%y/y in 2Q21.
DateRegionEventActual/Expected/PriorImplications
15/07USEmpire Manufacturing43.0/18.0/17.4US Empire Manufacturing rose to 43.0 in July, from 17.4 previously, better than consensus of 18 points.
15/07USIndustrial production0.4%/0.6%/0.7%US Industrial production rose by 0.4% m/m in June, down from 0.7% m/m in May.

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

Source: Nedbank

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By | 2021-07-16T08:52:34+02:00 July 16th, 2021|Markets and Research|0 Comments

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