Daily Market Commentary Flash Note – 23 July 2020

Currencies

All eyes on the SARB MPC today.

Commodities

Oil stabilised near $42 a barrel.

Equities

Risk sentiment diminished as the daily COVID-19 infection rate continues to increase and the US shut down the Chinese consulate in Houston.

 

Date Region Event Actual/Expected/Prior Implications

23/07

SA

SARB Interest Rate

–/3.50%/3.75%

Expectations that the Reserve Bank will cut interest rates by 25bps at the back of slowing inflation and growth.

24/07

EZ

Manufacturing PMI

–/50.0/47.4

Further expansions expected amid recoveries in activity.

24/07 UK
Retail Sales

–/8.3%/12%

Further increases in retail sales expected due to non-essential trade opening in June.

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

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Source: Nedbank

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By | 2020-07-23T09:07:40+02:00 July 23rd, 2020|Markets and Research|0 Comments

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