Rand posts gains despite negative backdrop.


Oil headed for its second weekly decline since late April at the back of increasing coronavirus cases in the US.


We are cautious of the overnight move higher in global markets, as most of the move was fuelled by potential further stimulus on the back of rising COVID-19 cases in the US.


Date Region Event Actual/Expected/Prior Implications
25/06 SA PPI


Dropped to 1.2% on an annual basis.

25/06 US GDP


GDP QoQ remained unchanged at -5.0%.

Nedbank CIB Market Commentary | | +27 11 537 4091


Source: Nedbank

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