| 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. |
| Date | Region | Event | Actual/Expected/Prior | Implications |
| 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
Source: Nedbank
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