Focus this week on the updated budget.


Gold at one-month high amid rising fear of virus.


Investors will be cautious ahead of our revised budget on Wednesday, so expect increased volatility on lower trading volumes.


Date Region Event Actual/Expected/Prior Implications
23/06 SA Unemployment


Unemployment rate expected to have increased to 29.7%.
23/06 EZ Manufacturing PMI


Readings expected to pick up following easing of containment measures by government.
23/06 UK Manufacturing PMI


Rise in PMI expected due to easing of lockdown restrictions.

24/06 SA CPI –/3.0%/4.1% Expected to drop to 3%
24/06 SA Supplementary Budget

Finance Minister to deliver special adjustment budget outlining further plans by government to tackle COVID-19.

25/06 SA PPI


Expected to drop to 1.9%.

25/06 US GDP


Minor revisions expected.


Nedbank CIB Market Commentary | | +27 11 537 4091


Source: Nedbank

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