Daily Market Commentary Flash Note – 19 May 2021

Currencies The rand holds steady marginally above the 14.0000 level.
CommoditiesBenchmark crude oil contracts fell overnight.
EquitiesAsian stocks are tracking US declines as concern about faster inflation overshadows the economic recovery from the pandemic.
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–/2.5%/2.3%Retail sales expected to accelerate to 2.5% 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 | 2021-06-02T11:50:33+02:00 May 19th, 2021|Markets and Research|0 Comments

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