Currencies The rand recovers from its highs to currently trade sub-14.5000.
CommoditiesBrent crude oil declined to trade just above $74 per barrel; Gold steady.
EquitiesChinese macro data comes in pretty much in line, which sees Asia trading mixed. Riot headlines and damage updates from corporates will continue to dominate our local market.
EconomicsUS PPI rose by 7.3% y/y in June; In the Eurozone, industrial production contracted by 1.0% m/m in May, from a revised 0.6%m/m increase previously; UK CPI rose 2.5% y/y in June from 2.1% y/y previously; SA retail sales rose 2.1% m/m in May, from -0.6% previously.
07/14SARetail sales15.8%/12.3%/95.7%Retail sales rose 2.1% m/m in May, from -0.6% previously, better than consensus of 0.8%.
07/14UKCPI2.5%/2.2%/2.1%Higher fuel, vehicle and food prices.
07/14USPPI7.3%/6.7%/6.6%PPI rose by 7.3% y/y in June, from 6.6% in May, worse than consensus of 6.7%.

Nedbank CIB Market Commentary | | +27 11 537 4091

Source: Nedbank

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