Daily Market Commentary Flash Note – 29 July 2020

Currencies

USD stumbles as all focus on FOMC meeting.

Commodities

Oil held a loss to trade near $41 a barrel.

Equities

Global markets are mixed as investors await earnings from some of the world’s biggest companies as well as any new developments from the FOMC meeting in the US.

 

Date Region Event Actual/Expected/Prior Implications

29/07

SA

CPI

–/2.2%/2.1%

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

30/07 US
GDP

–/8.3%/12%

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

31/07 EZ 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

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Source: Nedbank

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By | 2020-07-29T09:43:03+02:00 July 29th, 2020|Markets and Research|0 Comments

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