CurrenciesThe rand remains above the 16,0000 level as global risk appetite diminishes in an already limited liquidity trading environment.
CommoditiesGold has fallen below $1,800 per ounce while PGM’s have recovered from Fridays declines.
EquitiesWe expect the local bourse to open higher as investors assess the President’s measured response to the new variant, keeping us
at Level 1.

DateRegionEvent Actual /Expected/ PriorImplications
29/11USPending home sales MoM-/ 0.8%/ -2.3%Home sales are expected to improve from September month.
30/11SASouth Africa Unemployment-/ -/ 34.4%
30/11SAAbsa Manufacturing PMI-/ 53.3/ 53.6Manufacturing PMI is expected to remain at October levels, as rolling blackouts weigh on factory activity.
30/11SATrade balance rand-/ 23bn / 22.2bnTrade surplus of R23bn expected in October.

Nedbank CIB Market Commentary | | +27 11 537 4091

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