|Today we are taking a look at:
· SARB cut viewed as cautious by the market, yields decline nonetheless
· USD on the back foot on Fed’s interest rate outlook
· Oil snapped four days of losses after an American warship downed an Iranian drone near the Strait of Hormuz, stoking concerns crude flows from the Middle East may be disrupted
· Disappointing earnings reports weigh on European markets, while optimism of a potential US rate cut lifts US and Asian markets
· SARB reduces repo rate by 25bps; US leading index contracts, signalling deteriorating growth; UK retail sales rebound; Japanese CPI
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