Daily Market Commentary Flash Note – 8 September

https://cib.nedbank.co.za/2021/07/daily-market-commentary-flash-note-2-august-2021/
Currencies The rand lost some ground yesterday; however, it remains in positive territory, having opened the month at 14,5000.
CommoditiesBenchmark crude oil prices are little changed; gold has retreated below USD1 800 per ounce.
EquitiesTop40 closed +0,51% on the day; European equities fell Tuesday; The S&P 500 closed in the red after the Labor Day weekend; Asian stocks retreated.
EconomicsGDP in the Eurozone grew by 2,2% q/q in 2Q21, while SA real GDP growth rose to 1,2% q/q.

DateRegionEventActual/Expected/PriorImplications
09/07SAGDP19,3%/17,8%/-2,6%GDP up 19,3% y/y in 2Q21,
from -2,6% in 1Q.
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.
09/10 UKMonthly GDP–/0,5%/1,0%Higher infection rates weighing on consumption and labour supply.
09/10 USPPI–/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 | 2021-09-08T08:54:06+02:00 September 8th, 2021|Markets and Research|0 Comments

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