Daily Market Commentary Flash Note - 1 July 2020

Currencies

Rand trades marginally weaker going into half-year.

Commodities

Oil rose after its best quarter in almost three decades; Gold edged higher.

Equities

A strong finish in the US, closing out its best quarter since 1998.

Date

Region

Event

Actual/Expected/Prior

Implications

30/06

GDP

-0.1%/-0.9%/-0.5%

Q1 GDP sinks 2% on a quarterly basis.

01/07

Manufacturing PMI

–/49.8/50.2

Expected to decrease to 49.8.

02/07

Unemployment

–/12.4%/13.3%

June unemployment rate expected to improve to 12.4%.

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

Source: Nedbank

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Daily Market Commentary Flash Note – 1 July 2020