Daily Market Commentary Flash Note – 29 March 2021

CurrenciesThe rand holds steady above the 15.0000 Pivot, but appears vulnerable.
Commodities Oil prices dropped; Gold held its weekly decline.
EquitiesTop40 +3.2% as we enjoyed yet another volatile session.
EconomicsUS personal income dropped by 7.1% in February, while personal spending dropped by 1%.
DateRegionEventActual/Expected/PriorImplications
26/03USUniversity of Michigan sentiment84.9/83.6/83.0Consumer confidence was boosted by better weather conditions and the roll-out of vaccinations.
26/03USPersonal Income-7.1%/-7.2%/10.1%The sharp decline can be explained by a decline in government social benefits.
26/03USPersonal Spending-1.2%/-1.0%/3.0%Decrease in durable and non-durable goods.
30/03USConference Board Consumer Confidence–/96.8/91.3Confidence expected to improve, as indicated by the University of Michigan Sentiment indicator.
31/03SATrade Balance–/18.8b/11.8bDriven by growth in exports and low import growth given current domestic economic conditions.

Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091

Source: Nedbank

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By | 2021-04-20T18:41:41+02:00 March 29th, 2021|Markets and Research|0 Comments

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