Daily Market Commentary Flash Note - 2 July 2020

Currencies

The rand stages a minor recovery towards the 17.0000 level.

Commodities

Gold held a decline after positive coronavirus vaccine developments.

Equities

All eyes are on the US monthly jobs report.

Date

Region

Event

Actual/Expected/Prior

Implications

01/07

Manufacturing PMI

53.9/49.8/50.2

June PMI rises to 53.9.

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 – 2 July 2020