Daily Market Commentary Flash Note March 17, 2021

Currencies	Market’s focus now firmly on the outcome of the FOMC.
Commodities	Oil dropped for a fourth day.
Equities	Global 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.
Economics	SA CCI improves in 1Q21; US retail sales and industrial production declines due to adverse weather conditions.

Date	Region	Event	Actual/Expected/Prior	Implications
16/03	SA	Consumer confidence	-9/-10/-12	Driven by an increase in the economic outlook and household finances sub-indices.
16/03	US	Retail 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	US	Industrial production	-2.2%/0.3%/1.1%	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.