|Currencies||The rand extends its gains to reach levels last seen in 2019.|
|Commodities||Brent crude oil has dipped below $68.50 per barrel; Gold has fallen back below $1,900 per ounce.|
|Equities||Nearly 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%.|
|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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