Daily Market Commentary Flash Note – 6 August 2021

https://cib.nedbank.co.za/2021/07/daily-market-commentary-flash-note-2-august-2021/
Currencies Overnight cabinet reshuffle sees the rand trade on the back foot, this morning holding around the 14.5000 level.
CommoditiesGold has declined and is hovering at $1,800 per ounce while PGM’s are also better offered with platinum nearing $1,000 per ounce.
EquitiesTencent up 3.74% as it resumed signing up users for its WeChat messaging app, days after suspending registrations for unspecified technical upgrades.
DateRegionEventActual/Expected/PriorImplications
05/08USAInitial jobless claims385k/ 384k/ 400kJobless claims declined indicating a ease in labour market supply frictions. The delta variant remains a key downside risk.
06/08USAUnemployment rate-/5.7%/5.9%Unemployment rate expected to improve.
06/08SAGross reserves-/ 54.60b/ 54.47bGross reserves consensus at $54.60b.

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

Source: Nedbank

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By | 2021-08-06T09:08:01+02:00 August 6th, 2021|Markets and Research|0 Comments

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