Daily Market Commentary Flash Note – 6 October 2020

Currencies

A softer USD across the markets as risk sentiment boosted on US fiscal hopes.

Commodities

Oil was steady near $39 a barrel; Spot gold steady.

Equities Risk appetite was also boosted as polls showed Joe Biden widening his lead over President Trump, reducing the prospect of a contested election.

 

Date Region Event Actual/Expected/Prior Implications

10/06

US International Trade Balance –/-$66.2b/-$63.6b The trade deficit is set to widen in August at the back of deteriorating demand for industrial supplies.

10/09

UK GDP –/8.2%/-7.6% The economy is expected to grow by 4.6% on a monthly basis due to the reopening of some recreational activities and government stimulus in the hospitality sector.

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

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Source: Nedbank

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By | 2020-10-06T09:02:07+02:00 October 6th, 2020|Markets and Research|0 Comments

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