CurrenciesRand fails to consolidate gains sub-15.0000 as the USD recovers.
Commodities Oil futures dipped below $60 a barrel.
EquitiesAsian stocks slipped Tuesday and US equity futures fell as investors weighed the impact of the recent climb in bond yields and as a Chinese official warned about asset bubbles; The USD climbed, and oil is below USD60, ahead of OPEC this week.
EconomicsThe SA manufacturing PMI surprised to the upside in February; Naamsa vehicle sales fell by 13.3% to 37 521 units.
03/01SAAbsa manufacturing PMI53/51/50.9Expansion expected as indicated by flash PMI data.
03/01SANaamsa Vehicle Sales-13.3%/-12.5%/-13.9%Vehicle sales are expected to improve on a monthly basis, however still remain below pre-COVID levels.
03/01USUS ISM manufacturing index58.6/58.5/58.5Headline inflation expected to remain unchanged at 0.9%.
03/01EZManufacturing PMI57.9/57.7/57.7Increased to 57.9 points, from 54.8 in January, better than consensus of 57.7 points.
03/02EZCPI–/1.1%/1.4%Headline inflation expected to remain unchanged at 0.9%.

Nedbank CIB Market Commentary | | +27 11 537 4091

Source: Nedbank

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