Daily Market Commentary Flash Note – 12 October 2021

https://cib.nedbank.co.za/2021/07/daily-market-commentary-flash-note-2-august-2021/
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.
CommoditiesOil price remains above USD80 per barrel.
EquitiesThe 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.

DateRegionEventActual/Expected/PriorImplications
10/12SAManufacturing 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.
10/12UKUnemployment–/4,5%/4,6%Unemployment expected to
drop marginally to 4,5%.
10/13SARetail Sales–/2,0%/-0,8%Retail sales expected to rebound in August, after stores were closed during July as a result of riots.
10/13EZIndustrial 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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By | 2021-10-12T08:52:28+02:00 October 12th, 2021|Markets and Research|0 Comments

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