Daily Market Commentary: 2 May 2019

Today we are taking a look at:

  • SAGB curve steepens in the back-end as a result of greater supply, thin liquidity
  • Rand trades weaker after neutral FOMC
  • Oil extended losses after a bigger-than-expected jump in U.S. stockpiles overshadowed a deepening crisis in Venezuela and the prospect of OPEC and its allies extending their production cuts
  • Global equity markets experienced thin volumes, with many markets closed for bank holidays and focus shifting to the US FOMC meeting
  • SA budget balance deteriorates, deficit widens, trade balance surprises to the upside in March; Eurozone GDP growth rises in Q1 preliminary print; US consumer confidence rises in April, ADP payrolls remains upbeat
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By | 2019-05-02T09:12:17+02:00 May 2nd, 2019|Markets and Research|0 Comments

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