Daily Market Commentary Flash Note – 29 September 2021

Currencies The rand remains on the back foot after an overnight close above the 15,0000 level.
CommoditiesBrent crude oil has dropped to trade back below USD78 per barrel.
EquitiesThe S&P 500 dropped the most in more than four months on Tuesday,
ending the session -2% with technology stocks leading declines as rising Treasury yields spurred investors to rotate out of pricey growth stocks.
EconomicsUS consumer confidence fell to 109,3 index points in September.

09/28USConsumer confidence109,3/115,0/115,2Consumer sentiment worsened given concerns over the delta variant and high inflation.
09/30SAPPI–/7,2%/7,1%Producer prices expected to rise by 7,2% yoy and 0,9% m/m in August.
10/01EZCPI–/3,5%/3,0%Higher electricity and gas prices.
10/01USPCE deflator–/3,5%/3,6%Expected to increase by 3,5% yoy and 0,3% m/m in August.

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

Source: Nedbank

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By | 2021-10-04T08:50:42+02:00 September 29th, 2021|Markets and Research|0 Comments

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