Daily Market Commentary Flash Note – 6 July 2021

Currencies The rand holds steady around the 14.2500 level in limited-activity sessions.
CommoditiesBenchmark crude oil prices have risen sharply as OPEC+ continued its Mexican stand-off; Gold closed in on $1,800 per ounce.
EquitiesEuropean equities climbed as investors weighed the prospects of an economic recovery against Covid-19 risks, in addition to digesting UK corporate deal news.
EconomicsEurozone Services PMI rose to 58.3; China Services PMI slowed to 50.3 points; Japan Services PMI rose to 48.0.
DateRegionEventActual/Expected/PriorImplications
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 | 2021-07-06T10:08:42+02:00 July 6th, 2021|Markets and Research|0 Comments

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