| Currencies | The rand extends its recent gains as we head into month-end to trade towards the 14.6000 technical support level. |
| Commodities | Gold remains above $1,815 per ounce. |
| Equities | The S&P closed at a fresh record, its 12th this month, as investors were assured by Powell’s dovish tapering remarks last week and looked ahead to Friday’s job’s report. |
| Economics | SA records second-largest monthly deficit in July 2021; Retail sales in Japan advanced by 2.4% y/y in July. |
| Date | Region | Event | Actual/Expected/Prior | Implications |
| 30/08 | JN | Retail Sales | 2.4%/2.1%/0.1% | Retail sales in Japan advanced by 2.4% y/y in July. |
| 30/08 | SA | Monthly Budget Balance | -R133.2b/-R133.1b/R63.1b | SA’s monthly budget deficit for July amounted to R133.2bn, from a surplus of R63.1 bn in June, in line with expectations. |
| 31/08 | EZ | CPI | –/2.7%/2.2% | Higher clothing and footwear prices. |
| 31/08 | US | Consumer Confidence | –/123.0/129.1 | Rising infection rates caused by the delta variant might weigh on consumer confidence. |
| 01/09 | SA | ABSA Manufacturing PMI | –/–/43.5 | Effects from the July protests might weigh on sentiment in the manufacturing industry. |
| 03/09 | US | Unemployment | –/5.2%/5.4% | Unemployment expected to drop to 5.2% in August. |
Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091
Source: Nedbank
If you are looking for other relevant market commentary, you might find Markets and Research relevant as well.
