fbpx

Daily Market Commentary 27th August 2021

Share This Post

Share on facebook
Share on linkedin
Share on twitter
Share on email

Bombing shook Kabul, Afghanistan and markets overnight. At least 12 US troops were killed and 15 wounded. This raises the evacuation to a new level and was claimed by ISIS, who the Biden regime had previously indicated were not present or a threat. Markets were shaken and equities withdrew from record levels ahead of the Jackson Hole Symposium. The Dollar consolidated recent losses, with the GBP falling below 1.3700, while the EUR drifted to 1.1750. US Weekly Jobless claims were in line with expectations, while the Kansas City Fed Manufacturing Index plunged, ahead of the opening of the Jackson Hole meeting of Central Bankers.

German Consumer Confidence continued to fall while British Car Production collapsed, contracting 37.6%! US GDP was in line with expectations, but market attention has been torn away from the Central Bank meeting, to Geo-Political developments in Afghanistan. The NZD fell back to 0.6940, while the AUD dropped to 0.7240, impacted by the safe-haven reserve.

Collinson & Co Contact