#Africa #Markets | 2 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares steady, dollar near 4-month high before Fed decision
  • MSCI Asia-Pacific steady, Nikkei eases 0.2 pct
  • Fed’s policy statement coming later on Wed
  • Fed expected to keep interest rates steady
  • Eyes on Fed’s view of economy, inflation outlook

Oil Markets

  • Oil prices rise on Iran sanction worries, despite surging US supplies
  • US could re-impose sanctions on Iran this month
  • Iran’s April oil exports hit new record
  • Surging US supplies cap market
  • Brent crude oil futures up 0.2 pct at $73.25 per barrel (0020GMT)
  • US WTI crude futures up 0.3 pct at $67.45 per barrel

Precious metals

  • Gold inches up after touching 4-mth low
  • Spot gold up 0.2 pct at $1,306.51 per ounce (0118GMT)
  • US gold futures for June delivery up 0.1 pct at $1,307.60 per ounce

Grains

  • Wheat falls from 9-mth high, US crop conditions curbs losses
  • Most active CBOT wheat futures down 0.4 pct at $5.27-1/4 a bushel (0020GMT)
  • Most active corn futures down 0.1 pct at $4.05-1/4 per bushel
  • Most active soybean futures up 0.1 pct at $10.54-1/4 per bushel
  • Most active rice futures unchanged at $12.89 per hundredweight

Soft commodities (1 May)

  • London cocoa at 2016 peak, robusta coffee vaults to 5-1/2-month top
  • July London cocoa settled up 2 pct at £1,943 per tonne
  • July New York cocoa settled up 2.4 pct $2,894 per tonne
  • July robusta coffee settled up 3.4 pct at $1,815 per tonne
  • July arabica coffee settled up 1.6 pct at $1.248 per lb
  • July raw sugar settled down 0.5 pct at 11.69 cents per lb
  • August white sugar settled down 1.6 pct at $325.40 per tonne

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

  • South Africa EFF leader Malema to speak at rally in NorthWest province today
  • Nigerian cabinet meets today
  • Nigerian Senate to debate propriety of military planes purchase by executive when its justice committee submits report today; and also question police chief about arrest of colourful senator

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • UN experts say Congo obstructs probe of UN monitors’ killings – note
  • Women cabbies hit Nairobi’s roads as taxi-hailing apps mushroom
  • Morocco severs ties with Iran, accusing it of backing Polisario Front
  • Mosque blasts kill at least 27 in northeast Nigeria
  • At least 15 dead after church attack in Central African Republic
  • Africa Crude – Asia demand muted, but China buyers show interest in June Angolan barrels
  • Volatile oil prices prompt Algerian agricultural drive
  • Algeria’s biggest union urges Bouteflika to run for fifth term
  • US denounces Burundi political violence ahead of vote
  • Comoros to hold referendum on presidential term limits on July 30
  • Ethiopia to take stake in Port of Djibouti, its trade gateway – state media
  • Harbouring ambitions: Gulf states scramble for Somalia
  • IMF approves new 3-year loan arrangement for Malawi
  • Botswana Diamonds signs MoU with Vast Resources

N.B. Full stories of above headlines are available on Reuters

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