Daily Market Commentary Flash Note – 12 February 2021

CurrenciesRand remains resilient to reach the week’s best levels.
Commodities Oil slipped below $58 a barrel; Gold headed for its first weekly advance.
EquitiesTop40 -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.
EconomicsManufacturing output posts upside surprise in December; SA mining production rose 0.1% y/y in December.
DateRegionEventActual/Expected/PriorImplications
02/11SAMining Production0.1%/-5.4%/-11.6%Increased 0.1% y/y in December, from -11.6% y/y in November, better than consensus of -5.4%.
02/11SAManufacturing production1.8%/-1.2%/-3.5%Rose 1.8% y/y in December from a 3.5% drop recorded in November.
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 | 2021-03-23T23:28:39+02:00 February 12th, 2021|Markets and Research|0 Comments

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