Daily Market Commentary Flash Note 24 June 2020

Currencies

All eyes on the adjustment budget.

Commodities

Oil edged lower; Gold futures climbed for a fourth session

Equities

Global markets trade mostly higher, with improving economic data boosting sentiment.

 

Date Region Event Actual/Expected/Prior Implications
23/06 SA Unemployment 30.1%/29.7%/29.1% Unemployment rate increased to 30.1%.
23/06 EZ Manufacturing PMI

46.9/45.0/39.4

PMI readings picked up to 46.9 ahead of consensus of 45.0.
23/06 UK Manufacturing PMI 50.1/45.0/40.7

Increased to 50.1 ahead of consensus for 45.0.

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 | 2020-06-24T09:51:42+02:00 June 24th, 2020|Markets and Research|0 Comments

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