Daily Market Commentary Flash Note – 29 April 2021

Currencies Dovish FOMC sees the USD trade on the back foot.
CommoditiesCommodity prices are better bid with Brent crude oil moving above $67.50 per barrel. Palladium continues to gather further momentum.
EquitiesBanking stocks lead the gains in Europe, with a number of companies reporting solid first-quarter profits. The US Federal Reserve keeps rates unchanged.
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.
29/04USAPending home sales MoM-/ 4,4%/-10,6%Home sales expected to improve on the back of a steadily improving economy in the US.
03/05SAABSA Manufacturing PMI-/-/ 57,4Low restrictions and Covid-19 cases to improve manufacturing output.
29/04SAPPI YoY-/ 4,5%/ 4%PPI likely higher due to low lockdown restrictions and higher oil prices.

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

Source: Nedbank

If you are looking for other relevant market commentary, you might find Markets and Research relevant as well.

By | 2021-04-29T08:56:27+02:00 April 29th, 2021|Markets and Research|0 Comments

Leave A Comment