Currencies The rand again held steady around the 14,2000 level; market focus today will be on the US data.
CommoditiesGold remains below USD1 800 per ounce, while PGMs are still languishing.
EquitiesStocks and Treasuries were steady this morning; oil continues to move higher ahead of US inflation data that could give greater clarity on the Federal Reserve’s likely timeline for paring stimulus.

09/14USACPI YoY-/5,3%/5,4%Expecting a continuation of elevated inflation pressure in the US.
09/15SAJuly retail sales constant yoy-/3,3%/10,4%Lower July retail sales growth impacted by the civil unrest and looting of stores in KZN and Gauteng.
09/16USAInitial jobless claims-/320k/310kLow jobless claims signal that the delta variant has not prompted a wave of mass layoffs.

Nedbank CIB Market Commentary | | +27 11 537 4091

Source: Nedbank

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