Daily Market Commentary Flash Note – 17 May 2021

Currencies The rand holds steady as Eskom disappoints again.
CommoditiesBrent crude oil has moved back above $69 a barrel.
EquitiesThe crypto crash continues as speculation circulates about Tesla potentially dumping its Bitcoin on the open market.
DateRegionEventActual/Expected/PriorImplications
05/19SACPI–/4.3%/3.2%Inflation expected to pick up y/y due to lower base effects and higher fuel prices.
05/19SARetail sales–/2.4%/2.3%Retail sales expected to accelerate to 2.4% in March from 2.3% previously.
05/19UKCPI–/1.5%/0.7%Due to lower base effects as well as increases in energy prices.
05/20SASARB MPC–/3.5%/3.5%The repo rate is expected to remain unchanged.
05/21UKRetail Sales–/36.8%/7.2%Driven by a further reopening of the economy and increased household savings.

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

Source: Nedbank

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By | 2021-06-02T11:49:57+02:00 May 17th, 2021|Markets and Research|0 Comments

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