
Currencies | The rand remains resilient despite local factors. |
Commodities | Oil extended declines for a third day. |
Equities | Top40 -1.1%; retailers/gold/property names outperform, all other sectors closed in the red, with banks -1.9%. |
Economics | Chinese industrial production surged 35.1% YTD y/y; Retail sales rose 33.8% y/y; and fixed asset investment rose 35% y/y. |

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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