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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

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Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

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LOCAL NEWS

  • ANC has launched its election manifesto, filled with familiar promises and plans to change – including tackling the job crisis, clamp down on corruption and reform the party.
    • However, as the ANC gloats about connecting 2 million households to water since 2019, the failings of local and national government become evident as hours before the launch, water was cut off for residents across Gauteng.
    • Analysts say that empty words and lofty promises are unlikely to assuage the anger felt by communities who have had to suffer through a lack of basic service delivery and record high unemployment over the years – and President Cyril Ramaphosa's charm may be wearing thin
  • Insolvencies rise 127% in the three months ended July 2021 vs the same period in 2020, with finance and insurance sectors hardest hit, followed by trade, accommodation and catering. Liquidations are expected to surpass the 2,000 mark for a third consecutive year
  • New data shows SA's tourism industry lost R164 billion in tourism spending and around 1 million jobs tied to the industry in 2020. Economists say jobs lost are not only in the tourism industry but many other sectors that are tied to it, all across the value chain.
    • Currently, any recovery in the sector is being driven by local and regional travel and hospitality, with much of the international market still unable to travel to SA. Occupancy is down, and the industry's contribution to GDP is a third of what it was pre-lockdown