Daily Market Commentary Flash Note – 26 November 2020

CurrenciesThe rand posts steady gains towards 15.0000.
CommoditiesOil rose for a fifth day; Gold prices ticked up.
EquitiesThe global rotation took a breather in equities, but investors continue to speculate on EM currencies vs the USD as the rand nears R15. This should support domestic names.
EconomicsSA CPI rises in October, driven by core goods.
DateRegionEventActual/Expected/PriorImplications



25/11


SA

CPI

3.3%/3.0%/3.0%

SA CPI rose to 3.3% y/y in October, from 3% in September, worse than consensus estimates of 3%.

25/11

US


GDP

33.1%/33.1%/33.1%


Second print shows a rebound in economic growth of 33.1%, in line with consensus.

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

Source: Nedbank

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By | 2020-11-26T09:55:39+02:00 November 26th, 2020|Markets and Research|0 Comments

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