Daily Market Commentary Flash Note – 25 August 2021

Currencies The rand has found favour as sentiment towards risk assets has improved; it is currently trading around the 15.0000 level.
CommoditiesBrent crude dropped by 0.5% to $70.71 per barrel; Gold prices declined to $1,796.31.
EquitiesTop40 +1%; The Stoxx Europe 600 index finished Tuesday’s session less than 0.1% lower; The S&P 500 hit another record high; Asian stocks swung between gains and losses.
EconomicsUnemployment rate rises to record high in Q2.

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 | 2021-08-25T09:34:26+02:00 August 25th, 2021|Markets and Research|0 Comments

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