CurrenciesThe rand reverses its recent losses to trade back towards 15.0000.
Commodities Oil prices rose after data showed a decline in US fuel stocks.
EquitiesThe broader US market advanced as the rotation into value stocks, financials and energy resumed despite the slightly weaker inflation report.
EconomicsUS CPI increased by 1.7% y/y in February; Chinese CPI declined 0.2% while PPI rose by 1.7% y/y in February; SA RMB/BER business confidence index declined to 35 in 1Q21.
10/03CHPPI1.7%/1.5%/0.3%Increased global commodity prices and domestic demand.
10/03CHCPI-0.2%/-0.3%/-0.8%CPI remains in deflation driven by a further decline in pork prices.
10/03SABusiness Confidence35/42/40Sentiment deteriorated across all the sectors surveyed in the BCI.
11/03EZECB Main refinancing rate–/0.0%/0.0%Rates expected to be on hold.

Nedbank CIB Market Commentary | | +27 11 537 4091

Source: Nedbank

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