
Currencies | The rand was again largely on the back foot yesterday before a minor recovery into the close; it is likely to remain cautious heading into the close of the week. |
Commodities | Oil prices are heading for a monthly gain; gold edged higher. |
Equities | Asian equities headed for their third day of declines as disappointing results weighed on big-tech stocks and financials fell as bond yield curves continued to flatten. |
Economics | SA producer price inflation accelerated by 7,8% yoy in September; the ECB kept its main refinancing rate unchanged at 0,0%; US GDP growth slowed to 2,0% in 3Q21. |

Date | Region | Event | Actual/Expected/Prior | Implications |
10/29 | SA | Trade balance | –/R35,3bn/R42,4bn | Trade surplus expected to narrow in September. |
10/29 | SA | Private sector credit extension | –/2,1%/1,2% | Credit demand remains weak, particularly among corporates. |
10/29 | EZ | CPI and GDP | — | CPI expected to rise to 3,7% yoy in October, while growth will likely slow marginally in 3Q. |
10/29 | SA | Budget and trade balances | — | SA’s trade surplus is expected to narrow in September due to lower exports, while the budget deficit may narrow on better revenue. |
10/29 | US | PCE deflator | –/4,4%/4,3% | Inflationary pressures in the US remain elevated and are expected to rise further as a result of higher fuel costs. |
Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091
Source: Nedbank
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