Daily Market Commentary Flash Note December 17, 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.

Currencies	Greenback trades weaker against majors as risk appetite boosted.
Commodities	Oil extended gains from the highest settlement in almost 10 months after American crude stockpiles declined more than expected.
Equities	Local markets have a little catch-up to play, with global markets rallying on Wednesday.

Date	Region	Event	Actual/Expected/Prior	Implications
16/12	US	Retail sales	-0.3%/-0.3%/-0.1%	Spending eases during second wave of pandemic.
16/12	US	FOMC rate decision	0.25%/0.25%/0.25%	Fed keeps bond purchases at $120bn a month and promises to keep rates low for longer until pandemic has passed.
17/12	UK	BOE rate decision	–/0.10%/0.10%	BOE expected to leave rates unchanged.
18/12	JN	BOJ Policy rate	–/-0.10%/-0.10%	Market awaits a new bond issuance plan.