|Rand holds steady in an uncertain global environment.|
Oil prices fell in early trade as a spike in the number of Covid-19 infections raised fears.
Global markets under pressure as concerns that a second wave of infections would impact an economic rebound.
Unemployment stats reflect worrying trends; Mining production upbeat in Q3.
Mining production contracted by 2.8% y/y in September, from -3.8% in August, worse than consensus of -2.5%.
Unemployment increased to 30.8%.
Deceleration expected in October due to depressed service prices.
Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091
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