Daily Market Commentary Flash Note - 28 July 2020

Currencies

SA granted IMF loan.

Commodities

Oil held near a four-month high.

Equities

Global equity markets rise on USD1tn US relief package.

Date

Region

Event

Actual/Expected/Prior

Implications

28/07

Consumer Confidence

–/94.4/98.1

July consumer confidence expected to soften.

29/07

CPI

–/2.2%/2.1%

Headline inflation forecast to remain below SARB lowest target band of 3%.

30/07

GDP

–/8.3%/12%

Economy expected to have slowed by 35%, attributed to slowing consumer spending and low trade levels.

31/07

GDP

–/-12.0%/-3.6%

Expected that the economy will contract by 12% at the back of covid-19 containment measures.

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

Source: Nedbank

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Daily Market Commentary Flash Note – 28 July 2020