Daily Market Commentary Flash Note – 26 October 2020

Currencies Rand posts steady gains over the last week.
Commodities

Oil extended its slide to a second day; Gold eased to an over one-week low.

Equities Busy week for global earnings… Facebook, Apple, BP, GE, Caterpillar; locally: FBR, ANH, AFT, SSW, IAP, GLN, IMP, MTN and MNK…miners’ quarterly sales updates.

 

Date Region Event Actual/Expected/Prior Implications

28/10

SA CPI

–/3%/3.1%

Headline inflation is expected to slow to 3% at the back of weaker demand pressures.

28/10

US BoC Overnight Lending Rate

–/0.25%/0.25%

Expected to remain unchanged at the back of increasing covid-19 infections and uncertainty regarding government’s funding needs for 2021.

29/10

EZ ECM Main Refinancing Rate

–/0.0%/0.0%

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

30/10

EZ 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

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Source: Nedbank

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By | 2020-10-26T09:07:03+02:00 October 26th, 2020|Markets and Research|0 Comments

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