Daily Market Commentary Flash Note – 5 July 2021

Currencies The rand recovers from its worst levels as US unemployment disappoints.
CommoditiesBrent crude oil remains above $76 per barrel; Gold is moving back towards $1,790 per ounce.
EquitiesChina’s probes into internet security companies sees Asian tech names selling off, which would weigh on NPN/PRX at the start. All eyes on OPEC+ discussions as talks extend to today.
DateRegionEventActual/Expected/PriorImplications
02/07EZPPI9.6%/9.6%/7.6%Main drivers of the PPI were energy and intermediate goods.
06/07EZRetail Sales–/4.2%/-3.1%Retail sales expected to pick up in May after slumping by 3.1% in April.
06/07USISM Services Index–/63.5/64.0Better employment opportunities and increased vaccinations which supports business conditions.
09/07UKGDP–/3.9%/1.5%Economy expected to grow by 3.9% q/q, supported by the re-opening of the hospitality sector.

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

Source: Nedbank

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By | 2021-07-05T08:48:29+02:00 July 5th, 2021|Markets and Research|0 Comments

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