Daily Market Commentary Flash Note - 13 November 2020

Currencies

Rand holds steady in an uncertain global environment.

Commodities

Oil prices fell in early trade as a spike in the number of Covid-19 infections raised fears.

Equities

Global markets under pressure as concerns that a second wave of infections would impact an economic rebound.

Economics

Unemployment stats reflect worrying trends; Mining production upbeat in Q3.

Date

Region

Event

Actual/Expected/Prior

Implications

12/11

Mining Production

-2.8%/-2.5%/-3.8%

Mining production contracted by 2.8% y/y in September, from -3.8% in August, worse than consensus of -2.5%.

12/11

Unemployment

30.8%/31%/23.3%

Unemployment increased to 30.8%.

13/11

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

Source: Nedbank

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Daily Market Commentary Flash Note – 13 November 2020