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