Daily Market Commentary Flash Note

Currencies	The rand continues to trade around the 15,0000 pivot, although any signs of strength from the local unit are being met with demand for USD.
Commodities	Oil price remains above USD80 per barrel.
Equities	The Top40 is up c.8,9% from its September lows; it is in overbought territory, so we would say it is quite vulnerable to a pullback.

Date	Region	Event	Actual/Expected/Prior	Implications
10/12	SA	Manufacturing production	–/0,2%/-4,1%	Manufacturing production expected to rebound in August after the riots in July, as indicated by the manufacturing PMI, which rose to 57,9 points in August, from 43,5 points in July.
10/12	UK	Unemployment	–/4,5%/4,6%	Unemployment expected to drop marginally to 4,5%.
10/13	SA	Retail Sales	–/2,0%/-0,8%	Retail sales expected to rebound in August, after stores were closed during July as a result of riots.
10/13	EZ	Industrial production	–/4,7%/7,7%	Industrial production impacted by supply constraints.