Daily Market Update with Currency Assist

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Daily Market Update with Currency Assist

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Published Date: 2021-09-21 | Source: INCE|Community | Author: Currency Assist

Daily Market Update with Currency Assist

Market Summary

It's going to be a short but busy week for South African investors, with concerns over the risk to the global economic outlook, falling commodity prices, the Evergrande debt crisis, and this week's US federal policy meeting.

Global markets tumbled on Monday, driven by fear around the Evergrande debacle in China. The US dollar rallied ahead of a likely default by Evergrande, one of China's major property developers. After shares in Asia and on the JSE slipped throughout the day, Wall Street opened sharply lower thanks to this scenario playing itself out.

The question on investors lips: will we see an early policy response from the Federal Reserve on Wednesday?

The JSE TOP 40 Index traded deep in the red on Monday, down over 2.5% at the 55070 level - extending losses for the fifth straight day. As well as this, South Africa is waiting to see what our CPI data says about the economy, and whether there will be any SARB monetary policy shake ups this week.




15H00 SAST 08.09.2021

BUYSELL
USD/ZAR14.7111 14.3182
EUR/ZAR17.2497
17.3532
ZAR/JPY7.3799
7.4459
GBP/ZAR20.1355
20.2434
AUD/ZAR20.1355
10.7512
ZAR/CAD11.4349
11.5609
ZAR/CHF15.7898
16.0202
NZD/ZAR10.3223
10.4187



DISCLAIMER: The rates quoted are shown for indicative purposes only.



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