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Think Daily 15 September 2021

Kearabilwe Nonyana Kearabilwe Nonyana 15/09/2021
Think Daily 15 September 2021 Think Daily 15 September 2021
Think Daily 15 September 2021 Kearabilwe Nonyana
In Tuesday’s trading session in the local markets, the Top 40 closed the day down by 0.65%. The Resources 10 sector went down by 1.99%, the Financial 15 went up by 1.60%, the Industrial 25 went down by 0.53% and lastly the South African Listed Property index up by 1.85%. The Rand traded at R14.35 against the United State Dollar, R19.82 against the Great British pound, and R16.95 against the Euro.  JSE All Share slipped 0.54% as weak platinum prices pulled down the mining companies. In the local news, African Rainbow Investments expects the digital bank to break even in 2022. Growthpoint Properties Limited revenue increased by 6.2% to R13.13bn in FY’21 And HEPS increased by 112.7% to 169.98 cents in FY’21.
On the commodities front, the Brent Crude oil is trading at $74.15 a barrel and WTI Crude oil traded at $70.98 a barrel. Gold Spot price is currently trading at $1803.19, Platinum Spot is now trading at $931.03 and lastly, Palladium Spot price is at $1976.93. Gold declined in early Asia trade as USD weakened following the release of U.S. inflation data (5.3% vs 5.4% previously) leading to uncertainty about tapering. Oil rose in early Asian trade, amid eased concerns over the impact of Tropical Storm Nicholas on crude and natural-gas production in the Gulf of Mexico increase in expectation that demand will recover as vaccine rollouts widens.

Across the globe, the S&P 500 closed the day down 0.57%, Dow Jones closed down 0.84% and the Nasdaq had a 0.33% down. The FTSE 100 closed down 0.49% and the DAX was up 0.14% and CAC40 was down 0.36%. In the Asian markets, the Nikkei 225 is down 0.52% and the Hang Seng is currently down 1.90%. Wall Street heavy weight dipped as economic uncertainties and corporate tax rate hike is highly likely hence instigated a broad sell-off despite signs of easing inflation. In terms of the latest global news, Chinese Industrial Production (YoY) (Aug) decreased from 6.4% to 5.3% vs 5.8 forecast. GBP CPI (YoY) (Aug) increased to 3.2 % vs 2.9% forecast.
Things to look out for today in the trading day:


 
Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.

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Meet our contributors
Fawad Razaqzada
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Fawad Razaqzada
Market Analyst, London

Fawad is an experienced analyst and economist having been involved in the financial markets since 2010, producing market commentary and research for a number of global FX, CFD and Spread Betting brokerage firms. He leverages years of market knowledge to provide retail and professional traders worldwide with succinct fundamental & technical analysis. Fawad also offers trading education to help shorten the learning curves of developing traders.
 
His colleagues consider him an expert at reading price action on the charts. This together with his deep understanding of economics and fundamental analysis, and trading experience, puts him in a great position to forecast short term price movements. Fawad covers a wide range of markets, including FX, commodities, stock indices and cryptocurrencies and his comments are regularly quoted by the leading financial publications such as Reuters and Market Watch. In addition to ThinkMarkets, Fawad also provides analysis and premium trade signals on his own website at TradingCandles.com.
 
 

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Carl Capolingua
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Carl has over 20 years' experience in financial markets and has held senior analyst roles at a number of financial institutions. Specialising in Australian and US stock markets in particular, Carl uses a top-down approach to assess the global macro picture before using both technical and fundamental techniques to select stocks. He regularly appears as an expert commentator on a number of media outlets throughout the Asia-Pacific region.
 
 
 

Kearabilwe
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Kearabilwe Nonyana
Market Analyst, South Africa

Kearabilwe is an experienced Sales trader and Analyst specialising in Equity and Equity derivatives. His career in the financial markets has seen him hold various positions in global investment banks and global CFD and Spread betting firms. He has deep interest in using quantitative methods to help him understand and teach the fundamental drivers of asset prices.
 
 
 

Fawad Razaqzada
Fawad Razaqzada
Fawad is an experienced analyst and economist having been involved in the financial markets since 2010, producing market commentary and research for a number of global FX, CFD and Spread Betting brokerage firms.
Carl Capolingua
Carl Capolingua
Carl has over 20 years' experience in financial markets and has held senior analyst roles at a number of financial institutions.
Kearabilwe
Kearabilwe Nonyana
Kearabilwe is an experienced Sales trader and Analyst specialising in Equity and Equity derivatives.

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