
Currencies | Market focus today will be firmly on the outcome of the MPC. |
Commodities | PGM’s are better bid; Benchmark crude oil contracts remain under pressure on rising supply concerns. |
Equities | Top40 -2.3%; European equities fell on Wednesday; Wall Street’s S&P 500 index moderated losses late in the trading day but still closed 0.3% lower in New York, solidifying its third consecutive day of falls; Equities fluctuated in Japan. |
Economics | SA retail sales growth disappoints in March; SA CPI surges in April due to low base effects and sharply higher transport costs. |

Date | Region | Event | Actual/Expected/Prior | Implications |
05/19 | SA | CPI | 4.4%/4.3%/3.2% | SA CPI surged to 4.4% y/y in April, from 3.2% in March, ahead of consensus of 4.3%. |
05/19 | SA | Retail sales | -2.5%/2.5%/2.2% | Retail sales contracted by 2.5% y/y and 3.7% m/m in March, from 2.2% and 6.9% respectively previously. |
05/20 | SA | SARB MPC | –/3.5%/3.5% | The repo rate is expected to remain unchanged. |
05/21 | UK | Retail 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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