Daily Market Commentary Flash Note – 18 August 2021

https://cib.nedbank.co.za/2021/07/daily-market-commentary-flash-note-2-august-2021/
Currencies The rand recovers from its worst levels for some time; international market focus shifts to the FOMC minutes to be released tonight.
CommoditiesBenchmark crude oil prices are higher; Gold is nudging higher, marking a touch below $1,790 per ounce.
EquitiesSE sees its biggest day in history, with a whopping R152bn changing hands.
EconomicsUK ILO Unemployment dropped to 4.7% in June; US Retail sales dropped by 1.1% m/m in July.

DateRegionEventActual/Expected/PriorImplications
17/08UKUnemployment4.7%/4.8%/4.8%Unemployment dropped to 4.7% in June, from 4.8% previously.
17/08USRetail Sales-1.1%/-0.3%/0.7%Retail sales dropped by 1.1% m/m in July, from a revised +0.7% m/m previously, worse than consensus of -0.3% m/m.
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 | CIBMarketComm@Nedbank.co.za | +27 11 537 4091

Source: Nedbank

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By | 2021-08-18T09:42:31+02:00 August 18th, 2021|Markets and Research|0 Comments

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