Daily Market Commentary Flash Note – 26 May 2021

Currencies The rand gathers momentum to the downside as Eskom’s debt levels decline.
CommoditiesBenchmark crude oil contracts are little changed; Gold has moved above $1,900 per ounce.
EquitiesTop40 +0.1%; The Stoxx Europe 600 Index closed up less than 0.1% in London; US stocks have closed lower after a choppy trading session; Asian stocks edged up.
DateRegionEventActual/Expected/PriorImplications
05/25SALeading Index121.3/–/119.3Rose by 1.7% m/m, with six out of nine components posting increases.
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 | 2021-06-02T14:17:35+02:00 May 26th, 2021|Markets and Research|0 Comments

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