|Currencies||The USD posted gains again as the markets contemplate another Powell term at the Fed and a possible lift-off of rate hikes.|
|Commodities||Brent crude oil has dropped back below $79.50 per barrel; Gold fell sharply overnight, testing $1,800 per ounce.|
|Equities||Asian tech names have followed their US counterparts lower after an aggressive sell-off in the Nasdaq over the last hour of trade in the US; Earlier lift-off expectations have investors questioning sky-high valuations and the crypto universe as a whole.|
|11/23||EZ||Manufacturing PMI||–/57,3/58,3||Manufacturing PMI is expected to ease in November, given higher energy prices, supply chain issues, and rising COVID-19 infections.|
|11/24||US||PCE Deflator||–/5,1%/4,4%||The PCE deflator is expected to accelerate by 5,1% yoy after accelerating by 4,4% previously.|
|11/25||SA||PPI||–/8,0%/7,8%||Driven by higher fuel prices and supply chain bottlenecks.|
Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091
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