
Currencies | The rand manages to hold sub-15.0000 despite local factors. |
Commodities | Oil rose above $66 a barrel; Gold lost some gains. |
Equities | All eyes will be on central banks this week as investors weigh a potential new normal of a higher-yield environment. |
Economics | UK Industrial production declined by 4.9% y/y while Industrial production in the Eurozone increased 0.1%; US PPI rose 2.8%; Preliminary University of Michigan sentiment increased to 83 points. |

Date | Region | Event | Actual/Expected/Prior | Implications |
16/03 | SA | Consumer confidence | –/–/-12 | Sentiment could be dampened by recurring bouts of load shedding in 1Q21, the second wave of COVID infections, lockdown restrictions, and high levels of joblessness. |
16/03 | US | Retail Sales | –/-0.5%/5.3% | Expected to drop on a monthly basis as a result of adverse weather conditions however, stimulus checks distributed in January may offset the drop. |
16/03 | US | Industrial production | –/0.4%/0.9% | Adverse weather conditions will impact on industrial production. |
17/03 | SA | Retail Sales | –/-2.2%/-1.3% | Consensus expects a 0.1% increase in retail sales on a monthly basis. |
Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091
Source: Nedbank
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