Daily Market Commentary Flash Note – 9 September 2020

Currencies

Emerging markets on the back foot.

Commodities

Oil extended losses after its biggest one-day drop in more than two months.

Equities

Calling -0.5% at the open with a negative bias as investors question whether the move in the US is the start of the bubble bursting.

 

Date Region Event Actual/Expected/Prior Implications

08/09

SA GDP

-51%/-47.2%/-2%

GDP contracted 51%, revealing the effects of the lockdown restrictions imposed.

10/09

EZ ECB Main Refinancing Rate –/0.0%/0.0%

Slowing economic recovery, increased COVID-19 cases and decelerating inflation.

10/09

US PPI –/0.2%/0.5% Expected to increase 0.2% in August, indicating a recovery in pricing power.

11/09

UK GDP –/6.7%/8.7% The reopening of the hospitality sector will have a great effect on growth.

11/09

US CPI

–/0.3%/0.6%

Set to increase 1.2% on an annual basis.

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

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Source: Nedbank

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By | 2020-09-09T08:22:45+02:00 September 9th, 2020|Markets and Research|0 Comments

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