Daily Market Commentary Flash Note – 24 May 2021

Currencies The rand continues to hold steady below the 14.0000 level.
CommoditiesBrent crude oil has moved back towards $67 per barrel.
EquitiesTop40 closed +0.24%; European equities gained on Friday; The S&P 500 index fell for a second week; Asia stocks were mixed.
DateRegionEventActual/Expected/PriorImplications
05/25USGDP–/6.5%/6.4%Second print could be revised upward, driven by stronger personal consumption as indicated by the revised retail sales print.
05/27SAPPI–/6.7%/5.2%High y/y price movements due to the low base in 2020; during April, inflation will be driven by higher oil and transport costs.
05/28SAMonthly Budget Balance–/-55.0b/-29.8bThe monthly budget deficit is expected to widen in April, given that revenue collection in April is typically weaker.

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

Source: Nedbank

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By | 2021-06-02T15:36:03+02:00 May 24th, 2021|Markets and Research|0 Comments

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