By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asia stocks unnerved by yuan slide, heightened trade war fears
- MSCI Asia-Pacific index choppy, Hang Seng down over 0.5 pct
- Spreadbetters expect European stocks to open lower
- China state banks seen buying yuan after its fall to 1-yr low
- Dollar sags after Trump shows displeasure towards Fed’s hikes
Oil Markets
- Oil prices rise as concerns about oversupply ease
- Brent up 0.3 pct at $72.80 (0034GMT)
- US WTI crude futures up 0.7 pct at $69.97 per barrel
Precious metals
- Gold prices slip for 6th session as dollar trades near 1-yr high
- Spot gold down 0.3 pct at $1,218.72 an ounce (0352GMT), may test support at $1,204.45/oz
- US gold futures down 0.5 pct at $1,218.30/oz
Grains
- Corn set for biggest weekly gain in almost 3 months on strong demand
- Most active CBOT corn contract up 3.1 pct for the week, the most since week ending 27 Apr
- Most active soybeans gained 3.6 pct for the week, their biggest since 25 May
- Most active wheat futures up 1.8 pct for the week, recouping some of last week’s deep losses
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- Mozambique president Filipe Nyusi in Rwanda for 3-day visit; arrived Kigali yesterday (19 July)
- South Korean prime minister Lee Nak-Yeon in Kenya for 2-day visit; arrived Nairobi yesterday (19 July)
- Key focus on China’s Xi trip across the African continent; in South Africa on 24 July for BRICS summit
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- Congo’s Kabila says election on track but stays mum on own future
- US judge sets plea change for Algerian who recruited ‘Jihad Jane’
- Investor group opposes General Electric plans for Kenyan power plant
- US lets Somali immigrants stay 18 more months
- North Korea, Eritrea have world’s highest rates of modern slavery – report
- Mystery Egypt sarcophagus found not to house Alexander the Great’s remains
- Africa Crude – Angolan crude sells quickly due to open arbitrage
- South Africa’s rand retreats after lending rate unchanged, stocks steady
- South Africa cenbank holds rates; sees inflation up, growth down
- Guinea’s mining minister says there will be Simandou deal, talks go on
- Egypt’s EFG-Hermes to buy Nigerian broker in frontier market push
- Nigeria Wema Bank to sell 20 bln naira debt to boost capital ratio
- Saudi oil exports to drop by about 100,000bpd in Aug – OPEC governor
- Senegal convicts 13 for attempt to establish jihadist cell
- Italian PM calls for EU body to coordinate migrant arrivals
- Ethiopian Airlines says it is in talks for stake in Eritrean Airlines
- As Sudan currency continues descent, inflation hits 64 pct in June
- Cameroon arrests four soldiers suspected of executing women and children
- South African reserve bank leaves repo rate unchanged at 6.5 pct
- Ghana introduces higher income tax band to shore up revenue
- Amid Kabila stand-off, Congo parliament extends privileges to former presidents
- Kenyan shilling seen on back foot, others steady; in week ahead
- Nigeria to need up to $300 mln for new national carrier – document
- Freed Mauritanian anti-slavery activists vow to keep fighting
- Uganda shilling a touch firmer as banks pare positions
- Eritrean troops withdraw from Ethiopian border – Eritrean press agency
- Zambia to share data on austerity measures with IMF – finmin
- Ethiopian Airlines says in talks with to purchase stake in Eritrean Airlines
- South African pharmacy Dis-Chem bolstered by solid sales growth in March-June
- Steinhoff says around 90 pct of creditors support debt lock-up
- Kenyan shilling weakens, undercut by oil importer demand
- South Sudan’s Kiir says ready to accept peace deal
- Kenyan court temporarily suspends “Robin Hood” tax on bank transfers
- Namibia nets $218 million loan from African Development Bank
- Ango American reports 6 pct rise in Q2 output
- Alphabet to deploy balloon internet in Kenya with Telkom in 2019
- Ethiopia appoints ambassador to Eritrea – Fana TV
N.B. Full stories of above headlines are available on Reuters
