Daily Market Commentary Flash Note – 4 August 2021

https://cib.nedbank.co.za/2021/07/daily-market-commentary-flash-note-2-august-2021/
Currencies The rand posts further gains as Northern Hemisphere markets enter the summer holiday lull.
CommoditiesGold is treading water while PGM’s are pulling in the same direction with both currently better bid.
EquitiesUS markets closed higher as solid earnings outweighed fears of increasing Delta variant infections and their potential to delay the recovery of the global economy. China has talked down the rhetoric that it was targeting gaming, which sees Tencent +4.9%.
DateRegionEventActual/Expected/PriorImplications
04/08USAMarkit US services PMI-/ 58.8/ 59.8Services PMI expected to decline slightly from prior levels.
04/08USAADP employment change-/ 683k/ 692kThe United States is expected to add 683k jobs to the market.
06/08SAGross reserves-/ 54.60b/ 54.47bGross reserves consensus at $54.60b.
05/08USAInitial jobless claims-/ 384k/ 400kJobless claims expected to decline from previous levels.

Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091

Source: Nedbank

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By | 2021-08-05T09:36:04+02:00 August 4th, 2021|Markets and Research|0 Comments

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