Daily Market Commentary Flash Note – 13 May 2021

Currencies US CPI data brings the rand’s progress to an abrupt halt.
CommoditiesBrent crude oil rose back above $69 per barrel.
EquitiesUS inflation shock to the upside sees tech rerating across the globe as investors tweak their valuation models.
DateRegionEventActual/Expected/PriorImplications
05/12USCPI4.2%/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.
05/13UKIndustrial Production3.6%/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.
05/13USPPI–/5.8%/4.2%Increases in prices driven by supply chain disruptions.
05/13SAMining production–/17.3%/0.8%Mining production expected to increase by 17%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 | 2021-06-02T14:07:47+02:00 May 13th, 2021|Markets and Research|0 Comments

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