Daily Market Commentary Flash Note – 19 October 2020

Currencies

Rand holds steady around the 16.50 level.

Commodities
Oil was steady near $41; Gold steady.
Equities A revived chance of a US stimulus deal before the November election does see risk assets bid this morning; Chinese GDP missed estimates but the underlying recovery is still intact.

 

Date Region Event Actual/Expected/Prior Implications

21/10

UK CPI

–/0.6%/0.2%

CPI to accelerate to 0.6% in September at the back of government stimulus packages.

22/10

US

Initial Jobless Claims

–/865k/898k

Jobless claims to come in at 865k, down from 898k in the prior week.

23/10

UK Retail Sales

–/3.7%/2.8%

Consumers remain cautious at the back of fears for a second wave of covid-19 infections and prospects for higher unemployment.

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

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Source: Nedbank

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By | 2020-10-19T09:56:55+02:00 October 19th, 2020|Markets and Research|0 Comments

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