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.
|Currencies||The rand holds steady as president announces new lockdown measures.|
|Commodities||Oil dropped from a nine-month high on concerns that more pandemic lockdowns could slow a global rebound in fuel demand.|
|Equities||Asian 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.|
BER consumer confidence
Confidence recovers marginally in Q4.
|15/12||CH||Various||—||Retail sales, industrial production and investment rises in November.|
|15/12||US||Industrial production||–/0.3%/1.1%||Production growth could slow after post-lockdown surge.|
|16/12||US||Retail Sales||–/-0.3%/0.3%||Spending eases during second wave of pandemic.|
|16/12||US||FOMC rate decision||–/0.25%/0.25%||Fed expected to announce more stimulus measures to support the economy during the pandemic.|
|17/12||UK||BOE rate decision||–/0.10%/0.10%||BOE expected to leave rates unchanged.|
Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091
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