Daily Market Commentary Flash Note 15 June 2020

Currencies

Rand holds steady.

Commodities

Oil kept falling after its first weekly drop since late April; Gold steady.

Equities

Fears of a second wave of COVID-19 infections are outweighing better economic data out of China.

Date

Region

Event

Actual/Expected/Prior

Implications

12/06

Industrial production

-28.0%/-28.8%/-13.5%

Sharp drop to -28%, due to strict lockdown measures to contain the spread of the coronavirus.

12/06

GDP

-10.4%/-10.0%/0.1%

Dropped by -10.4% on a quarterly basis due to lockdown restrictions imposed

12/06

Industrial Production

-28.5%/-19.3%/-8.2%

Industrial production slowed to -28.5%, worse than consensus of -19.3%

12/06

Manufacturing Production

-28.5%/-19.9%/-9.7%

Slowed by -28.5%, worse than consensus of -19.9%

Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091

Source: Nedbank

If you are looking for other relevant market commentary, you might find Markets and Research relevant as well.

For more info, get in touch with us here