| Currencies | The rand loses ground and market focus shifts to US data. |
| Commodities | Benchmark crude oil contracts are little changed while gold and platinum are having a decent start for the month of July. |
| Equities | The S&P 500 Index closed at an all-time high for a sixth consecutive day, as value and cyclical sectors recovered some strength following a rotation into tech and growth stocks in June. |
| Date | Region | Event | Actual/Expected/Prior | Implications |
| 01/07 | SA | Absa manufacturing PMI | 57.4/56.0/57.8 | Manufacturing PMI came in slightly stronger than consensus. |
| 01/07 | US | Initial Jobless claims | 364k/388k/411k | Jobless claims came in lower than expected, however doesn’t really paint a positive picture since it is uncertain whether those who no longer claim are in fact now employed. |
Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091
Source: Nedbank
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