
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. |

Date | Region | Event | Actual/Expected/Prior | Implications |
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
Source: Nedbank
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