|Currencies||The rand gathers momentum to the downside as Eskom’s debt levels decline.|
|Commodities||Benchmark crude oil contracts are little changed; Gold has moved above $1,900 per ounce.|
|Equities||Top40 +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.|
|05/25||SA||Leading Index||121.3/–/119.3||Rose by 1.7% m/m, with six out of nine components posting increases.|
|05/27||SA||PPI||–/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.|
|05/28||SA||Monthly Budget Balance||–/-55.0b/-29.8b||The 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
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