Daily Market Commentary Flash Note 22 June 2020

Currencies

Focus this week on the updated budget.

Commodities

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

Equities

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

–/29.7%/29.1%

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

–/44.8/39.4

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

–/45.0/40.7

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

–/1.9%/3.3%

Expected to drop to 1.9%.

25/06 US GDP

/-5.0%/-5.0%

Minor revisions expected.

 

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

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Source: Nedbank

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By | 2020-06-23T10:19:06+02:00 June 22nd, 2020|Markets and Research|0 Comments

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