CurrenciesRisk appetite diminishes as safe-haven demand leaves rand on the back foot to end the week.
Commodities Oil held losses near $52; Precious metals higher.
EquitiesTop40 -0.14%; it was a more muted end to the week as stimulus optimism fizzled out as the USD strengthened.
22/01UKRetail sales2.9%/4.0%/2.4%Retail sales grew by 2.9% y/y weaker than consensus for 4.0%.
22/01UKServices PMI38.8/45.0/49.4Fell to 38.8, below consensus of 45.0 due to lower business and consumer spending.
26/01UKUnemployment rate–/5.2%/4.9%Rise in the unemployment rate expected due to further lockdown restrictions.
26/01USConsumer confidence–/89.0/88.6Fiscal stimulus package would likely promote consumer confidence.
27/01USFOMC interest-rate policy–/0.25%/0.25%No change expected.

Nedbank CIB Market Commentary | | +27 11 537 4091

Source: Nedbank

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