Daily Market Commentary Flash Note – 17 March 2021

CurrenciesMarket’s focus now firmly on the outcome of the FOMC.
Commodities Oil dropped for a fourth day.
EquitiesGlobal markets are mixed as investors await some clarity from the FOMC meeting tonight; divergent views on US inflation seem to be keeping markets on their toes.
EconomicsSA CCI improves in 1Q21; US retail sales and industrial production declines due to adverse weather conditions.
DateRegionEventActual/Expected/PriorImplications
16/03SAConsumer confidence-9/-10/-12Driven by an increase in the economic outlook and household finances sub-indices.
16/03USRetail Sales-0.3%/-0.5%/7.6%Due to adverse weather conditions experienced across the U.S. as well as winter storms affecting power grids in Texas and Great Plains.

16/03
USIndustrial production-2.2%/0.3%/1.1%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 | 2021-03-23T23:26:21+02:00 March 17th, 2021|Markets and Research|0 Comments

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