Daily Market Commentary Flash Note – 23 September 2021

https://cib.nedbank.co.za/2021/07/daily-market-commentary-flash-note-2-august-2021/
Currencies USD boosted by Fed taper talk; Focus now shifts to BoE and SARB meetings today.
CommoditiesBrent crude oil has moved back above USD76 per barrel; gold remains well below USD1 800 per ounce.
EquitiesThe Fed suggested that tapering of bond purchases would start in November this year, but its dragged-out communication on tapering over the past six months has avoided a tapering tantrum like the one we saw in 2013, with most markets trading in the green.
EconomicsSA consumer price inflation increased by 4,9% yoy in August; the Fed left interest rates unchanged.

DateRegionEventActual/Expected/PriorImplications
09/22SACPI4,9%/4,9%/4,6%Inflation increased by 4,9% yoy in August, from 4,6% in July.
09/22USFOMC rate decision0,25%/0,25%/0,25%Rates remained unchanged at the upper bound of 0,25%.
09/23UKBOE rate decision–/0,1%/0,1%No change expected in policy rate.
09/23SASARB interest rate decision–/3,5%/3,5%No change expected given low growth in 3Q.

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

Source: Nedbank

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By | 2021-10-04T08:52:00+02:00 September 23rd, 2021|Markets and Research|0 Comments

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