Daily Market Commentary Flash Note – 28 April 2021

Currencies The rand loses marginal ground as local markets were closed.
CommoditiesBrent crude oil remains within touching distance of $66.50 per barrel and Palladium has reached a new high in yesterday’s session but has given some of those gains back this morning.
EquitiesNo major movements out of the US session, and futures are only marginally higher from where we closed on Monday.
DateRegionEventActual/Expected/PriorImplications
29/04SAPPI YoY-/ 4,5%/ 4%PPI likely higher due to low lockdown restrictions and higher oil prices.
30/04SATrade Balance Rand-/ 26.0b/ 29.0bSA’s trade balance likely to post a surplus in March, driven by exports.
29/04USAInitial jobless claims-/ 539k/ 547kDecline in jobless claims is pointing to a brighter outlook for the US labour market.
29/04USAGDP annualised Q0Q-/ 6,9%/ 4,3%GDP to grow at levels last seen in years just after the 1981-82 recession, due to the 1,9 trillion stimulus package passed in March.

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

Source: Nedbank

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By | 2021-06-02T15:23:53+02:00 April 28th, 2021|Markets and Research, Uncategorized|0 Comments

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