Daily Market Commentary Flash Note – 4 March 2021

CurrenciesRand once again on the back foot above 15.0000.
Commodities Oil prices rose on Wednesday, boosted by expectations that Opec+ producers might decide against increasing output.
EquitiesTop40 -0.39%; US yields back in vogue with 10yr +6.55% to 1.48; US stocks lower at the open with tech and utilities leading the downside.
EconomicsPMI data in the Eurozone, US and UK.
DateRegionEventActual/Expected/PriorImplications
03/03UKMarkit Services PMI49.5/49.7/49.7Restrictions on travel, entertainment and hospitality continue to weigh on business activity.
03/03USMarkit Services PMI59.8/58.9/58.9The services PMI expanded as a result of new orders.
03/03EZMarkit Services PMI45.7/44.7/44.7Lockdowns a result of the coronavirus, forcing entertainment and hospitality venues to remain closed.

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

Source: Nedbank

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By | 2021-03-23T23:07:23+02:00 March 4th, 2021|Markets and Research|0 Comments

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