Daily Market Commentary Flash Note – 11 May 2021

Currencies The rand fails to consolidate its early gains beyond 14.0000.
CommoditiesBrent crude oil has dropped back below $68 per barrel; Gold is little changed.
EquitiesAsian stocks along with US futures have slid again after a tech-led Wall Street tumble last night as surging commodity prices stoked concerns about inflation.
DateRegionEventActual/Expected/PriorImplications
05/11SAManufacturing Production–/0.7%/-2.1%Production expected to increase by 0.7%y/y in March, given more relaxed COVID-19 restrictions.
05/12USCPI–/3.6%/2.6%Increased energy prices.
05/13USPPI–/5.8%/4.2%Increases in prices driven by supply chain disruptions.
05/13SAMining production–/15.8%/0.8%Mining production expected to increase by 15.8%y/y, supported by increased industrial activity and commodity prices.
05/14USRetail sales–/1.0%/9.8%Supported by increased sales in the automotive sector as well as spending at restaurants.

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

Source: Nedbank

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By | 2021-06-02T14:29:44+02:00 May 11th, 2021|Markets and Research|0 Comments

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