Focus today will be on the Fed’s decision


Oil prices lower; Gold unchanged


There is an element of caution in global markets ahead of the Fed meeting as investors question the disconnect between global asset prices and the underlying economies


Date Region Event Actual/Expected/Prior Implications
09/06 EZ GDP -3.6%/-3.8%/-3.8%

Quarter on quarter negative growth of -3.6%, better then consensus of -3.8%

10/06 US



Further disinflation expected on account of the Covid-19 outbreak, but to a lesser extent then in April

11/06 SA Manufacturing Production –/-52.5%/-2.1%

April manufacturing production expected to have dropped 52.2% on a monthly basis at the back of lockdown restrictions imposed

11/06 US PPI


Core producer prices remain under pressure, the recovery in oil prices during the month of May will limit the decline in the headline

12/06 EZ

Industrial production


Sharp decline expected in industrial production, resultant from lockdown restrictions imposed

12/06 UK GDP


Expected to drop by 17% on the month, due to effects of the coronavirus pandemic



Industrial Production


Industrial production expected to have slowed to -19.3% on an annual basis due to the covid-19 pandemic

12/06 UK

Manufacturing Production


Expected to have slowed to 19.9% on an annual basis

Nedbank CIB Market Commentary | | +27 11 537 4091


Source: Nedbank

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