Daily Market Commentary Flash Note 18 June 2020

Currencies

The Rand continues to hold steady.

Commodities

Oil dropped for a second day; Gold steady.

Equities

Equity markets were buoyed by US retail sales data overnight that shifted focus away from second-wave COVID-19 infections.

Date

Region

Event

Actual/Expected/Prior

Implications

17/06

CPI

0.1%/0.1%/0.3%

CPI fell to 0.1% from 0.3% previously on an annual basis.

17/06

CPI

0.5%/0.5%/0.8%

Fell to 0.5% in May.

18/06

BOE Rate

–/0.1%/0.1%

Expect policy rate to remain unchanged.

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

Source: Nedbank

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