Daily Market Commentary Flash Note – 1 March 2021

CurrenciesSA down to level 1 of lockdown.
Commodities Oil futures rose towards $63 a barrel; Gold steady.
EquitiesUSTs trade back to 1.4%, bringing some calm to global markets after last week’s volatility.
EconomicsSA’s Monthly Budget Balance – Large deficit in January but revenue seems to be doing well.
DateRegionEventActual/Expected/PriorImplications
03/01GlobalPMIExpansion expected as indicated by flash PMI data.
03/01SANAAMSA Vehicle Sales–/-12.5%/-13.9%Vehicle sales are expected to improve on a monthly basis, however still remain below pre-COVID levels.
03/02EZCPI–/1.1%/1.4%Headline inflation expected to remain unchanged at 0.9%.

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

Source: Nedbank

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By | 2021-03-23T23:11:14+02:00 March 1st, 2021|Markets and Research|0 Comments

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