Analyst Thoughts: Pre-Market Europe/Mid-Session Asia - 12 July
Published on the client platform earlier this morning
Analyst Thoughts: Pre-Market Europe Mid Session Asia
Following a much weaker open, S. African equities managed to narrow some of it's losses at the beginning of the week but not by enough to completely shed the negative sentiment which has been cast over global risk assets at the beginning of the week. What's weighing? Inflation concerns + central bank interest rate path + global growth + geopolitical relations (see Russia, Germany energy issues) + global social unrest (see Sri Lanka & China) + Chinese Covid-19 cases. Later today, U.S earnings season commences with large cap banks being the first to update the market on their Q2 performance. US equities closing lower overnight with the aforementioned issues weighing. Musk/Twitter deal also weighing on sentiment while investors position for the earnings where the focus will be on the forward guidance. This morning, Asia is negative. US Futures negative. USDZAR +17.13
Analyst Thoughts: Pre-Market Europe Mid Session Asia
Following a much weaker open, S. African equities managed to narrow some of it's losses at the beginning of the week but not by enough to completely shed the negative sentiment which has been cast over global risk assets at the beginning of the week. What's weighing? Inflation concerns + central bank interest rate path + global growth + geopolitical relations (see Russia, Germany energy issues) + global social unrest (see Sri Lanka & China) + Chinese Covid-19 cases. Later today, U.S earnings season commences with large cap banks being the first to update the market on their Q2 performance. US equities closing lower overnight with the aforementioned issues weighing. Musk/Twitter deal also weighing on sentiment while investors position for the earnings where the focus will be on the forward guidance. This morning, Asia is negative. US Futures negative. USDZAR +17.13
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