Daily Market Commentary Flash Note - 27 October 2020

Currencies

Rand posts small gains overnight.

Commodities

Oil was steady near a three-week low; Gold gained in early Asia trade

Equities

Global markets trade cautiously ahead of US elections; expect volatility to pick up over the next few days as liquidity dries up.

Date	Region	Event	Actual/Expected/Prior	Implications

28/10

CPI

–/3%/3.1%

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

28/10

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

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

If you are looking for other relevant market commentary, you might find Markets and Research relevant as well.

For more info, get in touch with us here

Daily Market Commentary Flash Note – 27 October 2020