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Thursday, June 1, 2023

Daily Market Commentary Flash Note – 8 September

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Currencies The rand lost some ground yesterday; however, it remains in positive territory, having opened the month at 14,5000.
Commodities Benchmark crude oil prices are little changed; gold has retreated below USD1 800 per ounce.
Equities Top40 closed +0,51% on the day; European equities fell Tuesday; The S&P 500 closed in the red after the Labor Day weekend; Asian stocks retreated.
Economics GDP in the Eurozone grew by 2,2% q/q in 2Q21, while SA real GDP growth rose to 1,2% q/q.
Date Region Event Actual/Expected/Prior Implications
09/07 SA GDP 19,3%/17,8%/-2,6% GDP up 19,3% y/y in 2Q21,
from -2,6% in 1Q.
09/09 EZ ECB Main Refinancing Rate –/0,0%/0,0% No policy rate change expected, but announcements regarding asset purchases made under the PEPP will be closely watched.
09/10  UK Monthly GDP –/0,5%/1,0% Higher infection rates weighing on consumption and labour supply.
09/10  US PPI –/0,6%/1,0% Inflation driven by disruptions in the supply chain.

Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091

Source: Nedbank

If you are looking for other relevant market commentary, you might find Markets and Research relevant as well.

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