Daily Market Commentary Flash Note 15 Mar 2021

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.