Daily Market Commentary Flash Note – 2 September 2021

https://cib.nedbank.co.za/2021/07/daily-market-commentary-flash-note-2-august-2021/
Currencies As the USD has traded on the back foot over the course of the week thus far, the rand has recovered from an open on Monday around 14,7200 to the current levels at 14,4100.
CommoditiesBrent crude oil has fallen back below $71.50 per barrel.
EquitiesTop40 -0,7%; European equities advanced Wednesday; The S&P 500 closed little changed on the first day of September even as the biggest tech stocks rallied; Asian stocks climbed for a fourth straight day as Chinese technology heavyweights extended their rebound from the massive rout seen earlier this year.
EconomicsGlobal PMI data; Unemployment in the Eurozone dropped to 7.6% in July; SA Manufacturing PMI rose to 57.9 points in August.

DateRegionEventActual/Expected/PriorImplications
01/09SAABSA Manufacturing PMI57.9/48.0/43.5PMI rose to 57.9 points in August, up from 43.5 points recorded in July.
01/09UKManufacturing PMI60.3/60.1/60.1The PMI fell to 60.3 (vs preliminary estimate of 60.1) in August from 60.4 in July.
01/09USManufacturing PMI61.1/61.2/61.2The manufacturing PMI came in at 61.1 points in August.
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 | 2021-09-02T08:50:10+02:00 September 2nd, 2021|Markets and Research|0 Comments

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