Currencies The rand reaches the 16.2000 technical objective. Commodities Oil is poised for its biggest weekly advance since early June with Saudi Arabia ratcheting up the pressure on OPEC+ members. Equities Asian markets are mixed after a modest improvement in US jobless claims continued to see rotation out of global tech into value. Nedbank [...]
Currencies Rand loses ground on the Fed’s outlook. Commodities Oil edged below $40 a barrel with a stronger dollar after the biggest surge since June following a surprise drop in US crude stockpiles. Equities S&P futures trading -2% from our close, and DXY trading higher at 93.50. Tencent -1.8%, while commodities all lower: oil -1.5% [...]
Currencies USDZAR trades steadily firmer. Commodities Oil prices rose; Gold steadied as investors await the outcome of the Federal Reserve meeting. Equities Global stocks consolidate into a busy latter half of the week with the FED tonight, SARB and Futures closeout tomorrow and both US Quadruple witching and FTSE rebalance on Friday. Nedbank CIB [...]
Currencies Emerging markets stage a modest recovery. Commodities Oil prices inched lower as a bleaker outlook for global fuel demand prompted fresh selling. Equities Hong Kong stocks rose after China’s economic data showed the recovery gathering pace. Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091 Source: Nedbank If you [...]
Currencies Local focus this week on the MPC. Commodities Oil edged higher toward $38 a barrel; Gold climbed ahead of a key Fed meeting that could provide clues on the policy outlook. Equities Global markets rally on the back of a flurry of global deals as well as positive rhetoric about vaccines. Nedbank CIB [...]
Currencies The rand again relinquishes its early gains. Commodities Oil headed for its first back-to-back weekly losses since April. Equities ECB leaves rates unchanged, adding no further stimulus, weighing on European markets, while tech stocks drag the US markets lower. Date Region Event Actual/Expected/Prior Implications 11/09 UK GDP --/6.7%/8.7% The reopening of the hospitality [...]
