Daily Market Commentary Flash Note – 16 March 2021

CurrenciesThe rand remains resilient despite local factors.
Commodities Oil extended declines for a third day.
EquitiesTop40 -1.1%; retailers/gold/property names outperform, all other sectors closed in the red, with banks -1.9%.
EconomicsChinese industrial production surged 35.1% YTD y/y; Retail sales rose 33.8% y/y; and fixed asset investment rose 35% y/y.
DateRegionEventActual/Expected/PriorImplications
16/03SAConsumer confidence–/–/-12Sentiment could be dampened by recurring bouts of load shedding in 1Q21, the second wave of COVID infections, lockdown restrictions, and high levels of joblessness.
16/03USRetail 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
USIndustrial production–/0.4%/0.9%Adverse weather conditions will impact on industrial production.
17/03SARetail 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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By | 2021-03-23T23:06:51+02:00 March 16th, 2021|Markets and Research|0 Comments

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