Daily Market Commentary Flash Note - 21 October 2020

Currencies

Market eyes on a possible stimulus package in the US.

Commodities

Oil prices fell after a surprise climb in U.S. crude stockpiles.

Equities

A pre-election stimulus deal inches closer, which provides support across global markets, despite the pick-up in COVID-19 related lockdowns.

Date

Region

Event

Actual/Expected/Prior

Implications

21/10

CPI

–/0.6%/0.2%

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

22/10

Initial Jobless Claims

–/865k/898k

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

23/10

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

Source: Nedbank

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Daily Market Commentary Flash Note – 21 October 2020