Daily Market Commentary Flash Note February 10, 2021

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.