| Currencies | The rand trades on the back foot as broad-based USD buying triggers stop losses and the USD posts gains across the board. |
| Commodities | Benchmark crude oil prices retreated overnight on increased US stockpiles. |
| Equities | The S&P 500 fell by the most since 4 October after a hotter-than- expected October CPI reading raised concerns that higher inflation could dampen consumer demand and affect the Federal Reserve’s timeline to taper asset purchases. |
| Economics | US CPI accelerated by 6,2% yoy in October, driven by higher energy and vehicle prices. |
| Date | Region | Event | Actual/Expected/Prior | Implications |
| 11/10 | US | CPI | 6,2%/5,9%/5,4% | Higher energy prices coupled with supply chain- related constraints. |
| 11/11 | SA | Manufacturing production | –/-1,3%/1,8% | Growth in manufacturing production is expected to ease to 1,2% m/m in September and contract by -1,3% yoy, as indicated by the manufacturing PMI. |
| 12/11 | EZ | Industrial production | –/4,1%/5,1% | Supply chain bottlenecks driving down vehicle manufacturing. |
Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091
Source: Nedbank
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