Currencies The rand firmly on the back foot as the Fed provides the catalyst for USD optimism.
CommoditiesBrent crude oil nearing $67.50; Gold has declined back below $1,780 per ounce.
EquitiesEuropean equities struggled to regain traction after a lengthy rally was halted by COVID-19 variant worries and geopolitical concerns prompted by the Taliban’s takeover of Afghanistan.
EconomicsSA CPI fell to 4.6% y/y in July, June retail sales increased by 10.4%; UK CPI rose by 2% y/y in July.

18/08SACPI 4.6%/4.7%/4.9%SA CPI fell to 4.6% y/y in July, from 4.9% in June, better than consensus of 4.7%.
18/08SARetail Sales 10.4%/9.5%/16.3%SA Retail Sales increased by 10.4% y/y in June from 16.3% previously, better than consensus of 9.5% y/y
18/08CPIUK2.0%/2.3%/2.5%CPI rose by 2.0% y/y in July, from 2.5% y/y previously

Nedbank CIB Market Commentary | | +27 11 537 4091

Source: Nedbank

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