Currencies The rand continues to lose ground as global risk aversion increases.
CommoditiesBrent crude oil back below $69,50 per barrel; Gold gained overnight.
EquitiesMarkets started the week on a cautious note as geopolitical risk flared up and concerns of China’s “slowing” resurfaced.
17/08UKUnemployment–/4.8%/4.8%Unemployment expected to
hold steady at 4.8%.
17/08USRetail Sales–/-0.2%/0.6%Decline in vehicle sales expected to weigh on retail sales.
17/08USIndustrial production–/0.5%/0.4%Lower vehicle production coupled with supply chain bottlenecks.
18/08SACPI–/4.7%/4.9%Slower food and fuel prices.
18/08CPIUK–/2.3%/2.5%Inflation expected to ease to 2.3% y/y in July, due to a higher base in 2020 when firms increased prices as a result of increased costs related to Covid-19.

Nedbank CIB Market Commentary | | +27 11 537 4091

Source: Nedbank

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