| Currencies | Dovish FOMC sees the USD trade on the back foot. |
| Commodities | Commodity prices are better bid with Brent crude oil moving above $67.50 per barrel. Palladium continues to gather further momentum. |
| Equities | Banking stocks lead the gains in Europe, with a number of companies reporting solid first-quarter profits. The US Federal Reserve keeps rates unchanged. |
| Date | Region | Event | Actual/Expected/Prior | Implications |
| 29/04 | SA | PPI YoY | -/ 4,5%/ 4% | PPI likely higher due to low lockdown restrictions and higher oil prices. |
| 30/04 | SA | Trade Balance Rand | -/ 26.0b/ 29.0b | SA’s trade balance likely to post a surplus in March, driven by exports. |
| 29/04 | USA | Initial jobless claims | -/ 539k/ 547k | Decline in jobless claims is pointing to a brighter outlook for the US labour market. |
| 29/04 | USA | GDP 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. |
| 29/04 | USA | Pending home sales MoM | -/ 4,4%/-10,6% | Home sales expected to improve on the back of a steadily improving economy in the US. |
| 03/05 | SA | ABSA Manufacturing PMI | -/-/ 57,4 | Low restrictions and Covid-19 cases to improve manufacturing output. |
| 29/04 | SA | PPI 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
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