Daily Market Commentary Flash Note – 1 February 2021

CurrenciesFirst batch of vaccines scheduled to reach SA today.
Commodities Oil steadied after the first back-to-back weekly decline since October.
EquitiesAsian stocks are trading higher as concerns over retail trading frenzies and signs of an easing cash crunch in China outweighed the weaker PMI data.
EconomicsBumper trade surplus as imports slump.
DateRegionEventActual/Expected/PriorImplications
29/01SATrade balance32.0b/30.0b/35.3bA decline in imports by 11.8% in 2020 (or R150bn), offset by an increase in exports of 7.5% (or R97bn).
02/02EZGDP–/-5.3%/-4.3%Contraction in growth expected in the fourth quarter at the back of covid-19 restrictions.
04/02UKBOE Bank Rate–/0.1%/0.1%No change expected.
05/02USUnemployment–/6.7%/6.7%Unemployment forecast at 6.7%.

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

Source: Nedbank

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By | 2021-03-23T23:22:45+02:00 February 1st, 2021|Markets and Research|0 Comments

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