Daily Market Commentary Flash Note -10 July 2020

Currencies

Rand holds steady sub-17.0000.

Commodities

Oil is heading for a weekly decline as surging coronavirus cases raised fresh concerns about demand.

Equities

New highs in COVID-19 cases in the US threaten to derail the V-shape recovery. Chinese stocks finally give back some gains as state-run pension funds take advantage of the eight-day run and US/China tensions persist on new US sanctions on high-ranking Chinese officials. Expect a risk-off tone into the weekend.

 

Date Region Event Actual/Expected/Prior Implications

07/10

US PPI

–/0.1%/-0.1%

Core PPI expected to increase to 0.1%.

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

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Source: Nedbank

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By | 2020-07-10T10:12:18+02:00 July 10th, 2020|Markets and Research|0 Comments

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