Daily Market Commentary Flash Note – 3 May 2021

Currencies The rand loses ground as the USD stages a broad-based recovery.
CommoditiesBenchmark crude oil contracts marginally lower while PGM’s and gold are better bid.
EquitiesAsian markets are mixed, but it does feel like risk-off sentiment given the holidays in China, Japan and the UK will dampen liquidity.
DateRegionEventActual/Expected/PriorImplications
04/30SATrade Balance52.8b/23.6b/31.2bExports surged 28.9% m/m, while imports were up 16.3%.
05/03SAAbsa Manufacturing PMI–/–/57.4Manufacturing activity remains expansionary due to less restrictive lockdown measures.
05/06UKBOE Rate–/0.1%/0.1%Rate expected to be on hold.

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

Source: Nedbank

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By | 2021-05-03T08:40:43+02:00 May 3rd, 2021|Markets and Research|0 Comments

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