CurrenciesThe 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.
EquitiesThe SA market relinquished its initial gains but still managed to close marginally higher.
EconomicsJapanese labour cash earnings dropped by -3.2% y/y in December; The NFIB Small Business Optimism index dropped to 95 points.
02/10SASACCI Business confidenceLikely to remain below average due to tighter lockdown restrictions and load-shedding impacting on manufacturing.
02/10USCPI–/1.5%/1.4%Due to higher fuel prices.
02/11SAMining Production–/-5.2%/-11.6%Stricter lockdown restrictions in export countries could hamper on production. Electricity supply constraints.
02/11SAManufacturing production–/-1.0%/-3.5%Effects of the pandemic continue to weigh down on industries. Electricity supply constraints.
02/12UKGDP–/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.

Nedbank CIB Market Commentary | | +27 11 537 4091

Source: Nedbank

If you are looking for other relevant market commentary, you might find Markets and Research relevant as well.

For more info, get in touch with us here