Daily Market Commentary Flash Note – 15 February 2021

CurrenciesThe rand reaches 14.5000 in illiquid markets.
Commodities Oil hit a fresh 13-month high.
EquitiesCommodities will take centre stage this week as strong earnings are expected from the mega-miners. EM risk-on sentiment should continue to see our domestic names outperform.
EconomicsUK Industrial production declined by 3.3% y/y in December; UK’s preliminary GDP release showed that real GDP growth eased to 1.0% q/q in Q4.
DateRegionEventActual/Expected/PriorImplications
15/02EZIndustrial Production–/-0.2%/-0.6%Tighter lockdown restrictions due to increased COVID-19 infections as well as trade disruptions caused by Brexit.
16/02EZGDP–/-5.1%/-5.1%Increase in COVID-19 infections resulted in stricter restrictions which weighed on activity, coupled with the effects of Brexit.
17/02SACPI–/3.3%/3.1%Driven by a recovery in oil prices.
17/02SARetail Sales–/-2.3%/-4.0%Reduced consumer spending over the festive season.

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

Source: Nedbank

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By | 2021-02-15T10:13:13+02:00 February 15th, 2021|Markets and Research|0 Comments

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