Daily Market Commentary Flash Note – 30 March 2021

CurrenciesRand recovery sees it trade back towards the lower end of its recent range.
Commodities Oil climbed amid expectations that the OPEC+ will maintain its production curbs.
EquitiesAsian markets are trading with a cautious bias and with indices a little mixed as investors assess the default risk from US hedge funds, rising COVID-19 cases in Europe and the lack of positive catalysts to spur the markets higher.
DateRegionEventActual/Expected/PriorImplications
30/03USConference Board Consumer Confidence–/96.8/91.3Confidence expected to improve, as indicated by the University of Michigan Sentiment indicator.
30/03JNUnemployment Rate2.9%/3.0%/2.9%Unemployment remained unchanged at 2.9% in February, better than consensus which expected an increase to 3.0%.
30/03JNRetail Sales-1.5%/-2.8%/-2.4%Retail sales increased by 3.1% m/m in February.
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 | 2021-04-20T18:35:18+02:00 March 30th, 2021|Markets and Research|0 Comments

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