Daily Market Commentary Flash Note – 1 September 2021

https://cib.nedbank.co.za/2021/07/daily-market-commentary-flash-note-2-august-2021/
Currencies The rand has continued to post steady gains over the course of the week thus far, currently holding steady around the 14.5000 level.
CommoditiesBenchmark crude oil prices are better bid ahead of the OPEC+ meeting.
EquitiesUS markets managed another month of positive gains despite last
night’s selloff amid the consumer confidence and increasing home prices data; Futures are looking stronger in Asian trade as Chinese tech finds a bid.
EconomicsSA credit extension rises sharply in July; SA trade surplus narrows in July; US Consumer Confidence Index falls to 113,8 points.

DateRegionEventActual/Expected/PriorImplications
31/08USConsumer Confidence113.8/123.0/125.1Consumer Confidence Index fell to 113,8 points, from a revised 125,1, given concerns over the delta variant and inflation.
01/09SAABSA Manufacturing PMI–/–/43.5Effects from the July protests might weigh on sentiment towards the manufacturing industry.
03/09USUnemployment–/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

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By | 2021-09-01T08:56:59+02:00 September 1st, 2021|Markets and Research|0 Comments

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