Daily Market Commentary Flash Note – 6 September 2021

https://cib.nedbank.co.za/2021/07/daily-market-commentary-flash-note-2-august-2021/
Currencies The rand continues to post gains as US data disappoints; given the extent of these recent gains, we remain cautious of a short-term technical correction.
CommoditiesBrent crude oil fell back below USD72 per barrel; gold has held on to most of its gains.
EquitiesTop40 -0,5%; European stocks extended their decline; The S&P 500 closed little changed on Friday; Asian stocks rose.

DateRegionEventActual/Expected/PriorImplications
09/09SAGDP–/17,8%/-3,2%GDP expected to grow by 17,8% yoy given a lower base from last year.
09/09EZECB Main Refinancing Rate–/0,0%/0,0%No policy rate change expected, but announcements regarding asset purchases made under the PEPP will be closely watched.
09/10UKMonthly GDP–/0,5%/1,0%Higher infection rates weighing on consumption and labour supply.
09/10USPPI–/0,6%/1,0%Inflation driven by disruptions in the supply chain.

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

Source: Nedbank

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By | 2021-09-06T08:55:56+02:00 September 6th, 2021|Markets and Research|0 Comments

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