Currencies The rand again fails to consolidate gains despite decent inflows of USD; this morning, it is currently trading at 15,0750.
CommoditiesBrent crude oil is marking a touch above USD82,50 per barrel; gold remains above USD1 750 per ounce.
EquitiesIt will be interesting to see if the buying in small- to mid-cap names has any follow-through today, which would be rather encouraging for market breadth.
EconomicsIn the Eurozone, the PPI increased to 13,4% yoy in August, and the services PMI slowed to 56,4 points in September; in the UK, the services PMI rose to 55,4 points; the US services PMI slowed to 54,9 points from 55,1 points previously.

10/05EZServices PMI56,5/56,3/56,3PMI slowed to 56,4 points in September.
10/05EZPPI13,4%/13,5%/12,4%PPI increased to 13,4% yoy in August, from a revised 12,4% yoy increase previously.
10/05UKServices PMI55,4/54,6/54,6The services PMI rose to 55,4 points.
10/06EZRetail sales–/0,4%/3.1%Retail sales expected to grow by 0,9% m/m (0,4% yoy), after contracting
by -2,3% m/m previously.
10/08USUnemployment rate–/5,1%/5,2%Unemployment expected to ease, driven by more people entering the job market after the pandemic unemployment benefit payments end.

Nedbank CIB Market Commentary | | +27 11 537 4091

Source: Nedbank

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