Daily Market Commentary Flash Note

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.