Daily Market Commentary Flash Note - 28 September 2020

Currencies

Rand remains on the back foot as liquidity is tested.

Commodities

Oil dropped near $40 a barrel.

Equities

Expect a stronger open with volumes improving after last week’s local holidays.

Date

Region

Event

Actual/Expected/Prior

Implications

29/09

Unemployment

–/34.8%/30.1%

Increase in unemployment rate to 34.8% expected in Q2.

30/09

CPI

–/3.1%/3.2%

Slowing inflation reflecting drop in oil prices over the year.

30/09

GDP

–/-20.4%/-20.4%

Reopening of the economy to push recovery.

02/10

CPI

–/0.3%/-0.4%

Cut in Germany’s VAT rate and low fuel prices.

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

Source: Nedbank

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Daily Market Commentary Flash Note – 28 September 2020