Currencies The rand remains on the back foot as the USD holds onto its recent gains and risk trades poorly.
CommoditiesBrent crude oil has dropped back below $70.50 per barrel; Platinum back above $1,000 per ounce.
EquitiesTop40 +1.65%; European stocks climbed to the seventh straight record high, The S&P 500 edged higher to close at another record high after the Senate passed a USD550bn infrastructure spending package; Asian equities advanced.
EconomicsSA manufacturing output disappoints in June.
11/08USCPI–/5.3%/5.4%Annual inflation will be driven by higher housing costs; Monthly, inflation is expected to be driven by higher apparel and gas prices.
12/08USPPI–/0.6%/1.0%Driven by higher commodity prices.
12/08UKIndustrial Production–/-0.1%/-1.0%Shortage in semiconductors weighing on car manufacturing.

Nedbank CIB Market Commentary | | +27 11 537 4091

Source: Nedbank

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