Currencies

The rand consolidates around the 15.5000 level.
Commodities

Oil extended gains toward $42 a barrel; Gold advanced for a second day.
Equities

Lockdown winners were sold off again as the rotation into SA Inc. continued.
Economics Manufacturing output set to emerge from multi-quarter contraction.

 

Date Region Event Actual/Expected/Prior Implications

10/11
SA

Manufacturing production

-2.8%/-7.7%/-11.1%

Manufacturing output contracted by 2.6% y/y in September, better than consensus of -7.7%.

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

8010C048-E36A-452A-ADFB-1FF12E0EC18A

Source: Nedbank

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