Daily Market Commentary Flash Note 23 June 2020

Currencies

Rand holds steady.

Commodities

Oil edged lower; Gold little unchanged.

Equities

The Nasdaq closed at record highs, inspiring Asian markets this morning.

 

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 | 2020-06-23T10:20:15+02:00 June 23rd, 2020|Markets and Research|0 Comments

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