Daily Market Commentary Flash Note – 26 July 2021

Currencies Market focus this week will be on the FOMC; rand under pressure above 14.8000.
CommoditiesBrent crude oil remains well above $73,50 per barrel; Gold remains above $1,800 per ounce.
EquitiesTop40 closed +1.02%; European stocks climbed for a fourth day; The S&P 500 Index closed at an all-time high; Asian equities slid.
DateRegionEventActual/Expected/PriorImplications
27/07USConsumer confidence–/124/127.3SARB kept the repo rate unchanged at 3.5%.
28/07USFOMC Meeting–/0.25%/0.25%No change in the interest rate policy expected.
29/07USGDP (1st print)–/8.5%/6.4%Better business and consumer confidence will boost growth.
29/07SAPPI–/7.3%/7.4%PPI expected to slow in June.

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

Source: Nedbank

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By | 2021-07-26T09:31:52+02:00 July 26th, 2021|Markets and Research|0 Comments

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