Daily Market Commentary Flash Note - 22 October 2020

Currencies

Rand posts gains and holds steady.

Commodities

Oil prices dropped in early trade.

Equities

US earnings – 85% beat on earnings out of the 84 companies that have reported so far, with tech in vogue this week.

Date	Region	Event	Actual/Expected/Prior	Implications

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 – 22 October 2020