Daily Market Commentary Flash Note – 17 February 2021

CurrenciesRand loses ground as risk assets lose their appeal.
Commodities Oil hovered near $60; Gold headed for a fourth decline.
EquitiesGlobal markets have paused their recent rally as investors weigh up the move higher in US yields and what it means for risk assets.
EconomicsPreliminary data showed that Eurozone GDP declined by 0.6%; Growth in Eurozone employment eased to 0.3%.
DateRegionEventActual/Expected/PriorImplications
16/02EZGDP-5.0%/-5.1%/-5.1%Economy contracted by 0.6% in Q4.
16/02EZEmployment0.3%/–/1%Eased to 0.3% in Q4.
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 | 2021-02-17T09:38:36+02:00 February 17th, 2021|Markets and Research|0 Comments

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