Daily Market Commentary Flash Note – 23 August 2021

https://cib.nedbank.co.za/2021/07/daily-market-commentary-flash-note-2-august-2021/
Currencies The rand has recovered from its worst levels, but any further recovery is likely to attract renewed USD buying as the markets await news from the Fed.
CommoditiesBrent crude oil back above $66 per barrel; Gold is 0.40% higher.
EquitiesTop40 -0.19%; European equities staged a Friday-afternoon rally; US stocks gained on Friday as dip buyers piled in after a volatile week of trading; Asian stocks climbed by the most in three weeks.

DateRegionEventActual/Expected/PriorImplications
26/08USGDP –/6.7%/6.5%Stronger consumer and business demand.
26/08SAPPI–/7.1%/7.7%PPI expected to slow to 7.1% in July from 7.7% previously.
27/08USPCE Deflator–/4.1%/4.0%PCE price index expected to advance by 4.1% y/y.
27/08USUniversity of Michigan Sentiment–/71.0/81.2Sentiment expected to deteriorate in August, as a result of higher infection
rates caused by the delta variant.

Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091

Source: Nedbank

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By | 2021-08-23T09:22:15+02:00 August 23rd, 2021|Markets and Research|0 Comments

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