Daily Market Commentary Flash Note – 12 January 2021

Fixed IncomeYields marginally higher across the curve, in line with a weaker ZAR as risk-off dampens sentiment towards EM assets.
CurrenciesThe rand breaches above 15.5000, opening move to 16.0000.
CommoditiesOil prices slipped as investors remained concerned about climbing coronavirus.
EquitiesSurging coronavirus cases across Europe weigh on markets, with evidence of profit taking following last week’s record closes in the US.
DateRegionEventActual/Expected/PriorImplications
12/01SAManufacturing production–/-2.2%/-3.4%Output is expected to remain weak, as indicated by the PMI.
13/01SARetail sales–/-2.6%/-1.8%Consumer spending is still impacted by the pandemic, limiting retail spending.
13/01USCPI–/1.3%/1.2%Inflation will remain subdued due to lack of demand pull inflation, core remains low.
15/01UKManufacturing production–/-4.8%/-7.1%Output weak, driven by lockdown restrictions and pandemic.
15/01USRetail sales–/0%/-1.1%Consumer spending limited by the pandemic and low confidence.

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

Source: Nedbank

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By | 2021-03-23T23:16:56+02:00 January 12th, 2021|Markets and Research|0 Comments

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