Daily Market Commentary Flash Note – 28 July 2021

Currencies The rand continues to trade within a limited range; liquidity is likely to be tested today as market participants await the outcome of the FOMC.
CommoditiesBenchmark crude oil prices have gained marginally; Gold has moved back above $1,800 per ounce.
EquitiesTop40 -1.1%. Another painful session as our heavyweight NPNPRX tracked the global tech selloff.
DateRegionEventActual/Expected/PriorImplications
27/07USConsumer confidence129.1/123.9/128.9Confidence index rose to 129.1 from a revised 128.9.
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 | 2021-07-28T08:50:59+02:00 July 28th, 2021|Markets and Research|0 Comments

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