|Currencies||The rand posts gains as the USD loses ground after the FOMC, currently trading at 14.5700.|
|Commodities||Benchmark crude oil prices have retreated; Gold has held onto its overnight gains.|
|Equities||Top40 +1.8%; weak US GDP data saw US markets back at record highs as inflation concerns eased and the lower-for-longer theme stays in play.|
|Economics||SA PPI rose by 7.7% y/y in June; US GDP grew by a 6.5% annualized rate in 2Q21.|
|29/07||US||GDP (1st print)||6.5%/8.4%/6.3%||US GDP grew by a 6.5% annualized rate in 2Q21, from a revised 6.3% in 1Q21.|
|29/07||SA||PPI||7.7%/7.3%/7.4%||SA PPI rose by 7.7% y/y in June, from 7.4% y/y in May, worse than consensus of 7.3% y/y.|
Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091
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