Daily Market Commentary Flash Note – 16 September 2021

https://cib.nedbank.co.za/2021/07/daily-market-commentary-flash-note-2-august-2021/
Currencies The rand continues to lose ground relative to the USD along with its emerging-market peers.
CommoditiesGold has fallen back towards USD1 790 per ounce, while PGMs are better bid, with palladium bouncing back above USD2 000 per ounce.
EquitiesThe S&P 500 Index gained the most in two and a half weeks, driven by a rally in energy-sector stocks as the price of oil advanced.

DateRegionEventActual/Expected/PriorImplications
09/15SAJuly retail sales constant yoy-0,8%/3,3%/10,4%Lower July retail sales growth impacted by the civil unrest and looting of stores in KZN and Gauteng. SA retail sales contracted 11,2% m/m in July, from +0,7% in June, much worse than consensus of -2,7%.
09/16USAInitial jobless claims-/323k/310kLow jobless claims signal that the delta variant has not prompted a wave of mass layoffs.

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

Source: Nedbank

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By | 2021-10-04T08:52:50+02:00 September 16th, 2021|Markets and Research|0 Comments

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