Daily Market Commentary Flash Note – 10 November 2020

Currencies The rand savours a bullish risk environment.
Commodities Spot gold was down 4.8%; Oil surged about 8% on Monday.
Equities

Global markets trade higher on Pfizer’s COVID-19 vaccine, despite the US Senate signalling a smaller-than-expected stimulus package.

 

Date Region Event Actual/Expected/Prior Implications

10/11

SA

Manufacturing production

–/-7.7%/-10.8%

Expected to drop by 7.7% y/y.

12/11

US CPI

–/1.3%/1.4%

Expected to increase by 1.3% y/y at the back of lower gasoline retail prices.

12/11

UK GDP

–/15.7%/-19.8%

Economy is expected to grow by 15.7% in Q3.

12/11

EZ Industrial production

–/0.7%/0.7%

Industrial production expected to increase by 0.7% driven by a rebound in Germany.

12/11

SA Unemployment

–/31%/23.3%

Unemployment expected to rise to 31% in Q3.

13/11

US PPI

–/0.2%/0.4%

Deceleration expected in October due to depressed service prices.

 

Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091

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Source: Nedbank

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By | 2020-11-10T09:04:12+02:00 November 10th, 2020|Markets and Research|0 Comments

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