Daily Market Commentary: 3 June 2019

Today we are taking a look at:

  • Risk off continues as the trade war persists, SAGB yield curve maintained marginal steepening bias
  • The rand recovers some lost ground
  • Oil extended declines as an increasingly aggressive U.S. trade policy fuelled fears the world could be heading for a significant economic slowdown
  • Gold index gained 7.79% which was a standout performance with the gold price up 0.95% with safe haven demand rising
  • SA trade balance posts a deficit in April; US PCE rises marginally in April
By | 2019-06-03T10:20:28+02:00 June 3rd, 2019|Markets and Research|1 Comment

One Comment

  1. Jeffrey Cammack June 4, 2019 at 11:34 am - Reply

    The export drop is a concern – to see a 0.3% could have been understood, but 1.3% m/m drop indicates that there are other factors at play that make imports from other countries more attractive, and this should be investigated. To have an increased trade deficit of around 8% m/m will put more downward pressure on the ZAR.

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