The JSE all-share index closing the day at 67 983 from its opening price of 68 049.
On Tuesday the South African equity markets saw Visual International Holdings Ltd. (VIS) being the biggest loser of the day with a -25.00% loss moving from R0.08 to close the day at R0.06, whilst Deneb Investments Ltd. (DNB) saw a 36.11% gain moving from R1.80 to R2.45, making it the biggest winner in the equity market
The Rand slipped against the US Dollar on Tuesday, moving from R14.92 to R15.02
Gold moved from 1 824.18 USD/oz to close on 1 831.92 USD/oz.
Platinum closed Tuesday at 1 062.72 USD/oz from its opening price of 1 059.10 USD/oz
Copper closed on 9 765.50 USD/t from its opening price of 9 907.50 USD/t
Brent Crude moved from 83.43 USD to close on 83.43 USD
The US Dollar Index recovers 94.00, PPI in-line with exceptions but Chinese PPI hit an all-time (26-yr) high +13.5%% & CPI doubled last month to 1.5%. Equities slip from key levels, yields decline to 6-wk lows and Oil rallied. Fed Speak dominated by Doves yesterday but calling caution on inflation – there was nothing different from Powell, Lagarde or Bailey. Brainard apparently interviewed for FED Chair, Biden cranks up gasoline plan & plans to video meet with Xi next week while Elon Musk “lost” $50bn.
Evergrande $148m interest payment due today & contemporary Fantasia needs “help”. This isn’t going away as the Chinese authorities (in the middle of reappointing Xi) may have hoped for.
US Yields (10yr closed down again at 1.432%) having hit a 6-week low at 1.4150 yesterday as the Auction was filled at 1.44% (1.58% – last time) back to 1.46% now.
Equities down failing to hold key levels. USA500 -16.00 (-0.35%) at 4685 – Big movers; TSLA -11.99%, PayPal -10.46%, VISA -3.22%, AMZN +2.5%. GE (once the world biggest company) to split into 3. USA500.F trades lower at 4677. Asian equities weaker again on Chinese data.
USOil – rallies on drawdown in private inventories compared to a build. Spiked over $83.00 to 6-day high $83.25. Biden may act on high US Gasoline prices.
The December 10-yr Bund future fractionally lower, Treasury futures underperforming. Yields are off session highs, but after bonds were surprisingly firm in the wake of yesterday’s US PPI, there is likely some caution ahead of the key US CPI later today.
Hotforex Head Market Analyst, Stuart Cowell
Things to watch today
China Producer Price Index (PPI) YoY, China Consumer Price Index (CPI) YoY, U.S. Core Consumer Price Index (CPI) MoM, U.S. Initial Jobless Claims, U.S. Crude Oil Inventories.
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