Daily Market Commentary Flash Note - 16 November 2020

Currencies

The rand opens the week marginally firmer.

Commodities

Oil prices edged up in early Asian trade; Gold prices inched up.

Equities

The world’s biggest trade agreement and “no” lockdown plans from Biden’s team see global markets start the week on the front foot.

Date	Region	Event	Actual/Expected/Prior	Implications

18/11

CPI

–/0.5%/0.5%

Inflation will be driven by increases in restaurant and hotel prices.

18/11

CPI

–/-0.3%/-0.3%

Inflation expected to continue on the weaker trend.

19/11

Reserve bank policy rate

–/3.5%/3.5%

Expected to remain unchanged at the back of a strong recovery in Q3.

20/11

Retail sales

–/-0.3%/1.5%

Expected to drop -0.3% in October.

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

Source: Nedbank

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Daily Market Commentary Flash Note – 16 November 2020