Daily Market Commentary Flash Note – 22 September 2020

Currencies

The rand succumbs to risk-off markets.

Commodities

Oil pared some losses; Gold and base metals edge lower.

Equities Global stocks continued their recent selloff as US stimulus, US elections, a second wave of infections in Europe and ongoing tension between the US and China keep risk appetite subdued.

 

Date Region Event Actual/Expected/Prior Implications

23/09

EZ Manufacturing PMI

–/51.9/51.7

Higher frequency data pointing towards an uptick.

23/09

UK Manufacturing PMI

–/54/55.2

Withdrawal of stimulus packages in the restaurant industry and risks relating to a rise in covid-19 cases points to a decline in September.

Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091

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Source: Nedbank

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By | 2020-09-22T10:08:52+02:00 September 22nd, 2020|Markets and Research|0 Comments

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