Daily Market Commentary Flash Note – 12 August 2020

Currencies

Gold loses its shine.

Commodities

Oil held losses; Spot gold sank 2.1% to $1,872.61 an ounce.

Equities

US stocks declined in late trading after virus-related rescue talks reached a stalemate in Congress that may last until September.

 

Date Region Event Actual/Expected/Prior Implications

12/08

UK GDP

–/-20.7%/-2.2%

Economy expected to have contracted by 20.7% in Q2 due to lockdown restrictions.

12/08 EZ Industrial Production –10.0%/12.4%

Further improvements expected in June as COVID-19 containment measures were relaxed.

12/08 US CPI

–/0.7%/0.6%

A YoY increase of 0.7% expected due to an increase in energy prices.

12/08 SA Retail Sales

–/-5%/-12.0%

A month on month improvement of 10% expected.

 

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

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Source: Nedbank

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By | 2020-08-12T09:30:14+02:00 August 12th, 2020|Markets and Research|0 Comments

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