Daily Market Commentary Flash Note - 29 October 2020

Currencies

Rand loses ground as the MTBPS disappoints.

Commodities

Oil held near a four-week low; Gold little changed.

Equities

US equity futures slide as concerns about rising coronavirus cases put a dampener on growth as vaccine trials stall.

Date	Region	Event	Actual/Expected/Prior	Implications

28/10

CPI

3.0%/3.0%/3.1%

Headline inflation slowed to 3% in line with consensus.

29/10

ECM Main Refinancing Rate

–/0.0%/0.0%

To remain unchanged as covid-19 infections continue to increase.

30/10

GDP

–/9.8%/-11.8%

Strong rebound in Q3 as strict covid-19 containment measures were lifted.

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

Source: Nedbank

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Daily Market Commentary Flash Note – 29 October 2020