| Currencies | The rand continues to trade within limited ranges and currently holds steady in the 14.70s. |
| Commodities | Benchmark crude oil prices are stronger; Gold has risen. |
| Equities | Chinese regulators scrambled to ease concerns on future US IPOs, which sees Chinese tech rebounding +7%; The Fed has started discussing tapering, but it still seems like an end-of-2022 discussion; Mixed results from Alphabet and Facebook see US futures slightly lower in Asian trade. |
| Economics | US fed kept interest rates unchanged at the upper bound of 0.25% in July. |
| Date | Region | Event | Actual/Expected/Prior | Implications |
| 28/07 | US | FOMC Meeting | 0.25%/0.25%/0.25% | Rates unchanged. |
| 29/07 | US | GDP (1st print) | –/8.5%/6.4% | Better business and consumer confidence will boost growth. |
| 29/07 | SA | PPI | –/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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