CurrenciesThe rand holds steady at the recent lows.
Commodities Crude oil contracts marginally weaker; Gold steadied.
EquitiesThe JSE retraces Tuesday’s solid gains, weighed by NPN and PRX, while global markets end little changed.
EconomicsSA business confidence marginally lower in March, but well above pre-COVID average.
04/07SASACCI Business Confidence–/94.0/94.5Concerns over weak economic activity, lower export volumes and metal prices, and higher real financing cost.
04/07EZComposite PMI53.2/52.5/52.5Driven by a higher manufacturing PMI.
04/07UKComposite PMI56.4/56.6/56.6Sharp increase in the manufacturing PMI.
04/08SAManufacturing Production–/-0.3%/-3.4%Expected to contract on an annual basis as indicated by the manufacturing PMI.
04/09USPPI–/2.7%/2.2%March producer prices expected to increase by 2.7% on an annual basis.

Nedbank CIB Market Commentary | | +27 11 537 4091

Source: Nedbank

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