Daily Market Commentary Flash Note May 13, 2021

Currencies	US CPI data brings the rand’s progress to an abrupt halt.
Commodities	Brent crude oil rose back above $69 per barrel.
Equities	US inflation shock to the upside sees tech rerating across the globe as investors tweak their valuation models.

Date	Region	Event	Actual/Expected/Prior	Implications
05/12	US	CPI	4.2%/3.6%/2.6%	Driven by increases in vehicle prices, transport services and hotel prices, as business activity and travel increase given the roll out of vaccines.
05/13	UK	Industrial Production	3.6%/2.9%/-3.5%	Main drivers of production during the month of March were production of textiles, clothing, and leather; machinery and equipment; as well as coke and refined petroleum. Key negative drivers were electrical and transport equipment.
05/13	US	PPI	–/5.8%/4.2%	Increases in prices driven by supply chain disruptions.
05/13	SA	Mining production	–/17.3%/0.8%	Mining production expected to increase by 17%y/y, supported by increased industrial activity and commodity prices.
05/14	US	Retail sales	–/1.0%/9.8%	Supported by increased sales in the automotive sector as well as spending at restaurants.