Daily Market Commentary Flash Note – 5 May 2021

Currencies The rand holds steady around the 14.5000 level.
CommoditiesBenchmark crude oil contracts moved higher; Gold ticked higher.
EquitiesUS futures are +0.8% from our close and commodities ex-iron ore are all higher o/n, which should see the sector lead from the open given the recent weakness; We are calling our market +0.75% at the open.
DateRegionEventActual/Expected/PriorImplications
05/04UKMarkit Manufacturing PMI60.9/60.7/60.7Driven by new sales orders and lifting of lockdown restrictions.
05/04USTrade Balance-$74.4b/-$74.4b/-$70.5bImports increased by 6.3% to $274.5b, compared to a 6.6% increase in exports to $200b.
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 | 2021-06-02T11:50:58+02:00 May 5th, 2021|Markets and Research|0 Comments

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