Daily Market Commentary Flash Note – 15 July 2020

Currencies

Rand holds steady around 16.7000.

Commodities

WTI rose toward a four-month high; Gold held steady.

Equities

Global markets are generally ignoring the heightened geopolitical risks between China, the US and UK, and focusing on the update from Moderna Inc. regarding its COVID-19 vaccine that produced antibodies in all patients tested in an initial safety trial.

 

Date Region Event Actual/Expected/Prior Implications
14/07 EZ Industrial Production 20.9/-18.9%/-28.7%

Industrial production rebounded in May at the back of relaxing containment measures.

15/07

UK CPI

–/0.4%/0.5%

Annual CPI likely to remain stable in June.

15/07

SA CPI

–/2.2%/3.0%

Headline inflation expected to decelerate at the back of collapsing oil prices.

15/07

US

Industrial Production

–/4.3%/1.4%

Set to rebound to 4.3%.

16/07

EZ ECB Decision Rate –/0.0%/0.0%
No further stimulus expected.

16/07

UK Unemployment –/4.2%/3.9% An uptick in the employment rate is expected in the three months to May.

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

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Source: Nedbank

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By | 2020-07-15T09:09:56+02:00 July 15th, 2020|Markets and Research|0 Comments

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