Daily Market Commentary Flash Note February 12, 2021

Currencies	Rand remains resilient to reach the week’s best levels.
Commodities	Oil slipped below $58 a barrel; Gold headed for its first weekly advance.
Equities	Top40 -0.3%; we traded lower after our open; The Stoxx Europe 600 Index increased 0.5% by the close in London; Another day of choppy trading on Wall Street left the major US stock indices nearly flat.
Economics	Manufacturing output posts upside surprise in December; SA mining production rose 0.1% y/y in December.

Date	Region	Event	Actual/Expected/Prior	Implications
02/11	SA	Mining Production	0.1%/-5.4%/-11.6%	Increased 0.1% y/y in December, from -11.6% y/y in November, better than consensus of -5.4%.
02/11	SA	Manufacturing production	1.8%/-1.2%/-3.5%	Rose 1.8% y/y in December from a 3.5% drop recorded in November.
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.