|Currencies||The rand continues to trade around the 15,0000 pivot, although any signs of strength from the local unit are being met with demand for USD.|
|Commodities||Oil price remains above USD80 per barrel.|
|Equities||The Top40 is up c.8,9% from its September lows; it is in overbought territory, so we would say it is quite vulnerable to a pullback.|
|10/12||SA||Manufacturing production||–/0,2%/-4,1%||Manufacturing production expected to rebound in August after the riots in July, as indicated by the manufacturing PMI, which rose to 57,9 points in August, from 43,5 points in July.|
|10/12||UK||Unemployment||–/4,5%/4,6%||Unemployment expected to|
drop marginally to 4,5%.
|10/13||SA||Retail Sales||–/2,0%/-0,8%||Retail sales expected to rebound in August, after stores were closed during July as a result of riots.|
|10/13||EZ||Industrial production||–/4,7%/7,7%||Industrial production impacted by supply constraints.|
Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091
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