Daily Market Commentary Flash Note – 24 February 2021

CurrenciesRisk appetite emerges as USD trades weaker after Powell’s comments.
Commodities Oil dropped near $61 a barrel; Gold remained steady.
EquitiesTop40 -2.52%; global markets taking a well-earned breather, led lower by tech and commodities.
EconomicsSA unemployment rose to the highest level on record.
DateRegionEventActual/Expected/PriorImplications
23/02SAUnemployment32.5%/31.5%/30.8%Increase in the labour force, however most people were not able to secure a job.
23/02SALeading index115.1/110/114.5The largest contributors to the index were the US dollar-denominated South African export commodity price index and new passenger vehicles.
23/02USConsumer comfort91.3/90/88.9Consumer comfort increased to 91.3, from 88.9 in January, ahead of consensus of 90.

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

Source: Nedbank

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By | 2021-03-23T23:31:45+02:00 February 24th, 2021|Markets and Research|0 Comments

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