Daily Market Commentary Flash Note – 11 February 2021

CurrenciesForeign exchange markets hold steady.
Commodities Gold slipped after advancing for four days.
EquitiesAsian stocks were little changed amid low volumes, with China and South Korea markets closed.
EconomicsSA Business confidence on the road to recovery; Japanese PPI remains in deflation; Chinese CPI fell into deflation; Chinese PPI rose; US CPI unchanged.
DateRegionEventActual/Expected/PriorImplications
02/10SASACCI Business confidence94.5/93.0/94.3Improved economic activity and better financial market conditions.
02/10USCPI–/1.5%/1.4%Unchanged at 1.4% y/y in January, worse than consensus estimates for a rise to 1.5%.
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 | CIBMarketComm@Nedbank.co.za | +27 11 537 4091

Source: Nedbank

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By | 2021-02-11T09:09:20+02:00 February 11th, 2021|Mining and Resources|0 Comments

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