Daily Market Commentary Flash Note - 5 August 2020

Currencies

Rand recovers after significant sell-off yesterday.

Commodities

Gold’s scorching rally gathered more force, with prices driven higher into record territory above $2,000 an ounce.

Equities

Tumbling UST yields send global investors scrambling for growth, seeing the Nasdaq make fresh highs overnight.

Date	Region	Event	Actual/Expected/Prior	Implications

05/08	EZ	Retail Sales	–/0.2%/-5.1%	Expected to increase 6% on a monthly basis.
06/08	UK	BOE Interest Rate	–/0.1%/0.1%	Expected to remain unchanged.

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

Source: Nedbank

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Daily Market Commentary Flash Note – 5 August 2020