Today we are taking a look at:

  • Global risk trades poorly all day. Rates only choose to react after MPC with a bear flattening bias
  • The rand remains on the back foot despite dollar weakness; majors broadly upbeat this morning
  • Gold remains downbeat; Brent volatile as a result of various news – OPEC raises production target while US demand likely to rise
  • The JSE ends little changed, while earnings weigh on European and US markets; a fall in the Chinese yuan drags Asian markets lower
  • US leading index continues to rise; UK retail sales disappoints; SARB becomes increasingly hawkish, revises inflation forecasts sharply higher; Japanese inflation eases in June

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