|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.|
|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
If you are looking for other relevant market commentary, you might find Markets and Research relevant as well.