Daily Market Commentary Flash Note

Currencies	The rand posts gains as the USD remains on the back foot.
Commodities	Oil was steady after the longest run of gains; Gold prices edged up.
Equities	The SA market relinquished its initial gains but still managed to close marginally higher.
Economics	Japanese labour cash earnings dropped by -3.2% y/y in December; The NFIB Small Business Optimism index dropped to 95 points.

Date	Region	Event	Actual/Expected/Prior	Implications
02/10	SA	SACCI Business confidence	—	Likely to remain below average due to tighter lockdown restrictions and load-shedding impacting on manufacturing.
02/10	US	CPI	–/1.5%/1.4%	Due to higher fuel prices.
02/11	SA	Mining Production	–/-5.2%/-11.6%	Stricter lockdown restrictions in export countries could hamper on production. Electricity supply constraints.
02/11	SA	Manufacturing production	–/-1.0%/-3.5%	Effects of the pandemic continue to weigh down on industries. Electricity supply constraints.
02/12	UK	GDP	–/0.5%/16%	GDP rose 0.6% in October and dropped by 2.6% in November; December will be impacted by the tightening of restrictions towards the later part of the month.