CurrenciesRand fails to consolidate its recent gains, trades back above 14.7000.
Commodities Brent crude oil is back above $63; Gold steady.
EquitiesTop40 +1.47%; resources and industrials leading the charge; European equities rose, snapping their longest losing streak since October; The S&P 500 fell for a fourth straight day on Friday; Asian shares rose.
19/02EZComposite PMI48.1/48.0/47.8Manufacturing rose to 57.7 while services fell to 44.7 as a result of covid-19 lockdown measures.
19/02USComposite PMI58.8/–/58.7Manufacturing fell to 58.5 from 59.2 due to adverse weather conditions and supply shortages. Services rose to 58.9 from 58.3 due to stronger demand levels.
19/02UKComposite PMI49.8/42.6/41.2Manufacturing rose to 54.9 from 54.1 previously. Services rose to 49.7 from 39.5 previously.
23/02SAUnemployment–/32.0%/30.8%Unemployment rate is expected to increase to 32%.
23/02UKUnemployment–/5.1%/5.0%Increase in job cuts and uncertainty relating to the furlough scheme.

Nedbank CIB Market Commentary | | +27 11 537 4091

Source: Nedbank

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