Daily Market Commentary Flash Note – 28 October 2020

Currencies

All eyes on the finance minister today.

Commodities

Oil prices slid in Asia trade; Gold prices were subdued.

Equities

US equity futures slide as concerns about rising coronavirus cases put a dampener on growth as vaccine trials stall. 

 

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 | 2020-10-28T08:52:19+02:00 October 28th, 2020|Markets and Research|0 Comments

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