Currencies | Risk appetite dominates the currency markets. |
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| Oil dropped; Precious metals extended gains. |
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Equities | Global markets take a breather as Trump U-turns on his COVID-19 narrative and the timing of the next US mega stimulus package stumbles in the Senate. |
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| Date | Region | Event | Actual/Expected/Prior | Implications |
| | | | |
| SA | | –/3.50%/3.75% | Expectations that the Reserve Bank will cut interest rates by 25bps at the back of slowing inflation and growth. |
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| EZ | | | Further expansions expected amid recoveries in activity. |
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| 24/07 | UK | | | Further increases in retail sales expected due to non-essential trade opening in June. |
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Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091
3A9FB332-563A-4064-86F4-B1DAA222DF30
Source: Nedbank
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