- The rand is unchanged this morning at R14.72/$ after closing stronger on Friday (R14.72/$*).
- EM currencies were largely up on Friday; the ZAR (+1.3%), RL (+1.0%) and RUB (+1.0%) were amongst the biggest gainers.
- Asian equity markets the Nikkei, Hang Seng and Shanghai Composite are up.
- Covid-19 global update: cases have surpassed 217.21 million, while the death toll has surpassed 4.51 million; recoveries are at 194.11 million.
- The US has 39.66 million cases, accounting for 18% of global cases; the US death toll is 654,689.
- India has 32.737 million cases and 438,387 deaths; Brazil has 20.74 million cases and 579,330 deaths.
- Australia recorded a record number of new infections even with roughly half its population in lockdown as the Delta variant spreads.
- Japan’s health minister noted that it will be difficult to lift the current state of emergency in Tokyo and other areas when the order expires on 12 September.
- US infectious disease specialist Anthony Fauci commented that the door is open to administering booster shots in the US sooner than 8 months from full vaccination.
- A third booster jab appeared to curb a Delta-led surge in cases and prevent severe disease according to a study in Israel.
- Israel has expanded its booster drive to everyone aged 12 and above.
- Abu Dhabi has made booster shots mandatory for people who have been vaccinated with the Sinopharm vaccine.
- Protests against restrictions resumed in Berlin as it considers banning unvaccinated people from restaurants and concerts.
- Globally, over 5.22 billion vaccines have been administered across 183 countries at a rate of 40.2 million doses a day.
- Investors will be keeping an eye on the US employment reports this week.
- The private ADP employment report for August is scheduled for release on Wednesday while the August non-farm payrolls report is due out on Friday.
- Canadian and Brazilian Q2:21 GDP data are due this week.
- The Eurozone’s consumer and economic confidence are due out today.
- Sentiment has been slipping on concerns that resurgent infections will trigger new lockdowns.
- Inflation for Spain and Germany will be released today, followed by France, Italy and the euro area which are due tomorrow.
- In Asia, China publishes PMIs for August on Tuesday, with further slowing expected.
- Africa’s Covid-19 cases are at 7.81 million; fatalities are at 195,241.
- Morocco has 853,373 reported cases, Nigeria 191,345, Ghana 117,636, Kenya 234,952.
- The WHO noted that vaccinations on the continent have tripled during the past week.
- The WHO, however, noted that protecting even 10% of the population by the end of September is “a very daunting task”.
- SA has the 17th highest caseload, at 2.764 million; 7,740 new cases were reported yesterday.
- Active cases are at 157,137; KwaZulu Natal leads the way with 62,305 active cases followed by the Western Cape with 29,715.
- Covid-19 deaths rose by 134 yesterday, to 81,595; 2.526 million people (or 91.4%) have recovered from the virus.
- 16.393 million tests have been conducted since 5 March 2020; 45,534 tests were conducted yesterday.
- The positivity rate is 17%.
- 12.021 million vaccines have been administered to date; 22,566 vaccines were administered yesterday.
- The July M3 and PSCE data are due for release tomorrow; expectations are for PSCE to have contracted by 0.7% y/y from a decline of 0.5% y/y in June.
- The July trade balance is also due out tomorrow; the trade surplus is expected to have slipped to R47.2bn from R57.7bn in June.
- The BER’s manufacturing PMI for August is scheduled for release this week as well as the industry-wide PMI.
- The August Naamsa vehicle sales is due out on Wednesday and is likely to have increased by 12.6% y/y in August from 1.7% y/y in July.
- Brent crude oil is up marginally this morning, and up by 40.4% year-to-date.
- The gold price is unchanged this morning, and down by 4.3% year-to-date.
- Brent crude oil is currently at $72.74/bbl; ($72.70/bbl*).
- Gold is at $1817/oz ($1817/oz*).
- SA CDS 192bps*, higher than Brazil 179bps* and lower than Turkey 371bps*.
- Yields: US 10yr at 1.30%*, German bund at -0.423%* and SA 10-year generic at 9.24%*, SA’s R186 at 7.31%*.
* Denotes Friday’s close.
Key events and data:
- 11h00: Eurozone consumer and economic confidence (August)
- 14h00: SA monthly budget balance (July)
