Daily Market Commentary Flash Note

Currencies	The rand recovers from its highs to currently trade sub-14.5000.
Commodities	Brent crude oil declined to trade just above $74 per barrel; Gold steady.
Equities	Chinese 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.
Economics	US 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.

Date	Region	Event	Actual/Expected/Prior	Implications
07/14	SA	Retail sales	15.8%/12.3%/95.7%	Retail sales rose 2.1% m/m in May, from -0.6% previously, better than consensus of 0.8%.
07/14	UK	CPI	2.5%/2.2%/2.1%	Higher fuel, vehicle and food prices.
07/14	US	PPI	7.3%/6.7%/6.6%	PPI rose by 7.3% y/y in June, from 6.6% in May, worse than consensus of 6.7%.