Daily Market Commentary Flash Note – 15 December 2020

Please note that our last publication for the year will be released on 17 December 2020. We will resume again on 04 January 2021. We would like to wish you well over the festive season.

CurrenciesThe rand holds steady as president announces new lockdown measures.
CommoditiesOil dropped from a nine-month high on concerns that more pandemic lockdowns could slow a global rebound in fuel demand.
EquitiesAsian stocks were weaker after a mixed session on Wall Street amid caution over the possibility of further virus-related economic curbs and ongoing talks for fresh US fiscal stimulus. China retail sales and industrial output data were in line with estimates and the steady USD sees the USDZAR back up above 15, trading at 15.05.
 
DateRegionEventActual/Expected/PriorImplications
14/12SA

BER consumer confidence


-12/–/-23

Confidence recovers marginally in Q4.
15/12CHVariousRetail sales, industrial production and investment rises in November.
15/12USIndustrial production–/0.3%/1.1%Production growth could slow after post-lockdown surge.
16/12USRetail Sales–/-0.3%/0.3%Spending eases during second wave of pandemic.
16/12USFOMC rate decision–/0.25%/0.25%Fed expected to announce more stimulus measures to support the economy during the pandemic.
17/12UKBOE rate decision–/0.10%/0.10%BOE expected to leave rates unchanged.

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

Source: Nedbank

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By | 2020-12-15T09:44:52+02:00 December 15th, 2020|Markets and Research|0 Comments

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