Daily Market Commentary Flash Note – 9 March 2021

CurrenciesGlobal risk aversion sees the rand in retreat.
Commodities Oil resumed gains; Gold edged higher.
EquitiesThe global rotation out of tech into energy and value continued overnight, seeing the Nasdaq trigger a technical selloff.
DateRegionEventActual/Expected/PriorImplications
09/03SAGDP–/-4.5%/-6.0%Further recovery expected in the fourth quarter, however the pace of recovery may have slowed as a result of a second wave of infections and electricity supply constraints.
09/03JNGDP–/12.6%/12.7%Second reading is expected to be revised slightly downward to 12.6% from 12.7% as a result of reduced private capital expenditure.
10/03CHCPI–/-0.3%/-0.3%CPI remains in deflation driven by a further decline in pork prices.
11/03EZECB Main Refinancing Rate–/0.0%/0.0%Rates expected to be on hold.

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

Source: Nedbank

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By | 2021-03-23T23:30:59+02:00 March 9th, 2021|Markets and Research|0 Comments

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