| Currencies | The rand has continued to post steady gains over the course of the week; it has thus far managed to consolidate its marginal gains sub-15.0000. |
| Commodities | Oil prices declined given a poor demand outlook; Spot gold dropped 0.1%. |
| Equities | New highs in the US equity markets have not flowed through to sentiment in Asian trading ahead of Jackson Hole as markets remain split on the Fed’s upcoming message. |
| Date | Region | Event | Actual/Expected/Prior | Implications |
| 26/08 | US | GDP | –/6.7%/6.5% | Stronger consumer and business demand. |
| 26/08 | SA | PPI | –/7.1%/7.7% | PPI expected to slow to 7.1% in July from 7.7% previously. |
| 27/08 | US | PCE Deflator | –/4.1%/4.0% | PCE price index expected to advance by 4.1% y/y. |
| 27/08 | US | University of Michigan Sentiment | –/71.0/81.2 | Sentiment 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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