Daily Market Commentary Flash Note – 8 June 2021

Currencies The rand finds support as US data disappoints.
CommoditiesBrent crude oil now back below $71 per barrel; Gold has remained below $1,900 per ounce.
EquitiesMost Asian stocks slip lower as investors await more clues on whether the recovery from the pandemic will stoke price pressures and imperil loose monetary policy.
DateRegionEventActual/Expected/PriorImplications
06/08SAGDP–/-3.0%/-4.1%GDP expected to contract by -3%y/y in 1Q21.
06/09SASACCI Business Confidence–/–/94.0Business confidence for May expected to improve given strong global demand and sales as well as recovering local demand.
06/10SACurrent Account Balance–/183b/198bCurrent account expected to maintain a surplus.
06/10SAManufacturing Production–/88.5%/4.6%Driven by a lower base last year, given the lockdown restrictions. On a monthly basis manufacturing production is expected to rise by 0.5%.

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

Source: Nedbank

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By | 2021-06-08T10:05:49+02:00 June 8th, 2021|Markets and Research|0 Comments

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