Daily Market Commentary Flash Note - 31 July 2020

Currencies

Rand loses ground as the economy falters.

Commodities

Gold is set for the biggest monthly gain in more than four years.

Equities

Disappointing earnings reports, poor economic data and a potential delay in the US presidential elections drag markets lower.

Date

Region

Event

Actual/Expected/Prior

Implications

31/07

GDP

–/-12.1%/-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 – 31 July 2020