Daily Market Commentary Flash Note – 22 July 2021

Currencies The rand recovers marginally, with focus now on the MPC.
CommoditiesBenchmark crude oil prices have retreated after their recovery yesterday; Gold has dipped back below $1,800 per ounce.
EquitiesGlobal markets remain the driver as solid corporate earnings outweigh concerns about the Delta variant.
EconomicsSA CPI rose by 4.9% y/y in June, down from 5.2% y/y in May.
DateRegionEventActual/Expected/PriorImplications
07/21SACPI4.9%/4.8%/5.2%SA CPI rose by 4.9% y/y in June, down from 5.2% y/y in May, worse than consensus of 4.8%.
07/22SAMPC–/3.5%/3.5%Rates expected to be on hold.
07/22EZECB Main Refinancing Rate–/0.0%/0.0%Rates expected to be on hold.

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

Source: Nedbank

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By | 2021-07-22T09:07:58+02:00 July 22nd, 2021|Markets and Research|0 Comments

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