|Currencies||The rand loses ground as the MPC leaves local rates unchanged.|
|Commodities||Brent crude oil is marking a touch above $73.50; Gold remains above $1,800 per ounce.|
|Equities||Asian markets have not followed their US counterparts higher as broad-based selling of defensives and cyclical names weigh on their markets. There has been a renewed push towards global tech, but regulatory headwinds in China are excluding Chinese tech from the rally.|
|Economics||SA CPI rose by 4.9% y/y in June, down from 5.2% y/y in May.|
|07/22||SA||SARB MPC||3.5%/3.5%/3.5%||SARB kept the repo rate unchanged at 3.5%.|
|07/22||EZ||ECB Main Refinancing Rate||0.0%/0.0%/0.0%||Main refinancing rate unchanged at 0.0%.|
Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091
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