#Africa #Markets | 23 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Caution creeps into Asian markets at US tariff deadline looms
  • MSCI ex-Japan off 0.1 pct, Aussie shares tad softer
  • Deadline for fresh US tariffs on China on Thursday
  • Trump threatened by legal woes of two former advisers

Oil Markets

  • US oil extends gains after crude inventories decline
  • US crude stocks drop by 5.8 mln barrels to 408.36 mln barrels
  • US crude output rises back to 11 million bpd
  • US-China trade dispute threatens global economic growth
  • Trump does not expect trade talks to resolve issues soon
  • US WTI crude futures up 0.1 pct at $67.95 per barrel (0044GMT)
  • Brent crude oil futures down 9 cents at $74.69 per barrel

Precious metals

  • Gold falls as rate hike views steady dollar
  • Spot gold down 0.3 pct at $1,191.87 an ounce (0102GMT)
  • US gold futures down 0.3 pct at $1,200 an ounce

Grains

  • Soybeans ease for 3rd session on US crop prospects, wheat prices firm
  • Most active CBOT wheat futures up 0.6 pct at $5.48-1/4 per bushel (0041GMT)
  • Most active corn futures up 0.3 pct at $3.68 per bushel
  • Most active soy futures down 0.3 pct at $8.68 per bushel
  • Most active rice futures up 0.2 pct at $10.82 per hundredweight

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

  • Uganda opposition figure #BobiWine appears in court today
  • Ghana’s Mahama to declare NDC presidential flagbearership intent
  • Botswana interest rate decision expected [fcst. 5.0%, prev. 5.0%]

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

  • Congo approves more experimental ebola treatments
  • Zimbabwe court to rule on disputed election on Friday
  • Africa Crude – Nigerian cargoes slowly clear, Qua and Forcados offered up
  • Tanker with 19 crew on board missing in piracy-plagued West African waters
  • South Africa’s African Rainbow Minerals sees 2018 profit jump
  • South Africa’s Bidcorp close to a deal on selling UK logistics business
  • Rifts at the top rattle Zimbabwe after Mugabe
  • More than 100 migrants storm border of North African Spanish enclave
  • Nike stores closes in South Africa amid outcry over racist web post
  • Zambia copper output up 10.6 pct in first half of 2018 – central bank
  • Egypt targets $11 bln foreign investment in 2018-19 vs $7.9 bln in previous year
  • Aid prize winner spotlights water crisis in Kenya’s slums
  • Zambia raises 2018 fiscal deficit forecast to 7.8 pct – central bank
  • US poultry industry to urge retaliation if South Africa ends quota
  • Taiwan’s last Africa ally tells China ‘no desire’ to switch ties
  • Uganda shilling weakens as banks beef up positions
  • South Africa’s inflation rises to 5.1 pct in July, highest in ten months
  • Kenyan shilling firm on investor inflows
  • eSwatini will not switch to China from Taiwan – minister

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

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