| 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%. |
| Date | Region | Event | Actual/Expected/Prior | Implications |
| 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
Source: Nedbank
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