Daily Market Commentary Flash Note – 30 June 2021

Currencies The rand continues trading steadily weaker as local factors weigh on it.
CommoditiesBrent crude oil back above $75 per barrel; Gold is little changed.
EquitiesTop40 +1% as SA Inc. catches a bid, with the sentencing of former President Zuma helping overall domestic sentiment.
DateRegionEventActual/Expected/PriorImplications
30/06SAMonthly Budget Balance–/-6.1b/-80.4bBudget deficit expected to narrow down to -R6.1b in May.
30/06SATrade Balance–/49.6b/51.2bConsensus expects the trade balance to remain in a surplus.
01/07SAAbsa Manufacturing PMI–/56.0/57.8Adverse effects from load shedding might weigh on the index.

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

Source: Nedbank

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By | 2021-06-30T09:22:27+02:00 June 30th, 2021|Markets and Research|0 Comments

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