Daily Market Commentary Flash Note – 21 May 2021

Currencies The rand posts modest gains as the MPC leaves rates unchanged.
CommoditiesBrent crude oil is nearing $65; Gold is marking a touch below $1,875 per ounce.
EquitiesNearly all major industry groups in the S&P 500 pushed higher, while the Nasdaq rallied past its 50-day moving average thanks to a rebound in Apple +2.1%, Tesla +4.1% and Microsoft +1.4.
DateRegionEventActual/Expected/PriorImplications
05/20SASARB MPC3.5%/3.5%/3.5%Repo rate 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 | 2021-06-07T11:21:16+02:00 May 21st, 2021|Markets and Research|0 Comments

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