CurrenciesBroad-based USD strength sees the rand lose ground.
Commodities Oil dropped 1% to around $61 a barrel; Gold declined.
EquitiesA flare-up of COVID-19 infections in Europe sends oil 6% lower as concerns of further lockdowns fuel a selloff of recent financial, energy and value winners.
EconomicsThe SARB leading indicator rose to 117.5 index points in January, from 115.1 in December.
23/03UKUnemployment5.0%/5.2%/5.1%Unemployment dropped to 5% in the three-month period ending January 2021.
23/03USCurrent Account Balance-$188.5b/-$188.0b/-$180.9bCurrent Account deficit widened to -$188.5b in 4Q20.
23/03SALeading Indicator117.5/–/115.1Driven by an increase in commodity prices and job advertisements.
24/03SACPI–/3.1%/3.2%Expected to decline on a year-on-year basis due to a decrease in medical aid inflation.
24/03UKCPI–/0.8%/0.7%Inflation expected to pick up marginally in February.
25/03SASARB Interest Rates–/3.5%/3.5%Rates expected to be on hold.

Nedbank CIB Market Commentary | | +27 11 537 4091

Source: Nedbank

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