By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asia stocks retreat; weakness in China outweighs NAFTA trade optimism
• MSCI Asia-Pacific index down 0.3 pct, Nikkei up 0.05 pct
• Spreadbetters expect mixed open for European stocks
• China stocks drop amid lingering trade woes, dampens sentiment
• Dollar sags, pound stands tall as ‘hard Brexit’ fears recede
• Oil prices extend overnight rally

Oil Markets

• Oil prices edge up on decline in US fuel inventories, looming Iran sanctions
• Global oil markets to tighten towards end of 2018 – IEA
• Brent crude oil futures up 7 cents at $77.21 per barrel (0114GMT)
• US WTI crude futures up 14 cents at $69.65 a barrel

Precious metals

• Gold steady as dollar dips; rate hike expectations cap gains
• Spot gold largely unchanged at $1,205.58 an ounce (0028GMT)
• US gold futures mostly steady at $1,211.82 an ounce

Grains

• Wheat adds to steep rise on fears Russia may limit exports
• Most active CBOT wheat futures up 0.9 pct at $5.46-3/4 per bushel (0138GMT)
• Most active corn futures up 0.6 pct at $3.58-1/2 per bushel
• Most active soy futures up 0.4 pct at $8.39-1/4 per bushel
• Most active rice futures down 0.1 pct at $10.85 per bushel

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

• UK’s Theresa May expected in Kenya today; after stops in South Africa and Nigeria
• Germany’s Angela Merkel expected in Ghana today; arrived Senegal yesterday
• South Africa’s state capture inquiry continues
• South Africa producer inflation data for July due [fcst. 5.9% yy, prev. 5.9%]

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

• South Africa’s credit demand growth slows to 5.41 pct in July
• South Africa union signs wage agreement with state utility Eskom
• Nigeria’s presidency rebuffs landmark oil reform bill in current form
• Africa’s forests at risk if indigenous ‘rebels’ excluded – experts
• Nigeria central bank orders MTN, banks to bring back $8.1 bln sent abroad
• Nigeria vice president sees economy picking up after sluggish Q2
• Worker strike halts operations at AngloGold’s Guinea mine
• UK’s May on African tour, urges Nigeria to tap City of London expertise
• Africa Crude – Demand flourishes for Nigerian Qua; IOC seeks October crude
• South African unions declare dispute over wage talks with gold firms
• Construction begins at Botswana’s first privately-owned coal mine
• Mini power grids bring promise of jobs to rural Nigerians – report
• At least 2 killed as foreign shop owners attacked in Soweto – South African police
• Egypt says 20 suspected militants killed in western desert, Sinai
• Zimbabwe’s Mnangagwa names team to probe soldiers role in post-election violence
• South Africa’s rand slides as risk sentiment wavers, stocks rise
• Hundreds of migrants trapped in detention centres in Libya capital after clashes
• UK’s May pledges to help Nigeria get tougher on human trafficking
• Two South African malls reopen after bomb threats
• Steinhoff offer loans to Brazil farmers preserving land
• Spain defends hard line on North African border immigration
• Germany returns skulls from colonial-era massacre to Namibia
• Egypt’s toursim revenue jumps 77 pct in first half – govt official
• Trading suspension in Kenya’s ARM Cment extended
• Congo ebola outbreak not yet stabilised – WHO chief
• Kenyan court temporarily halts criminal action against deputy chief justice
• South Africa launches electronic trading platform for govt bonds
• Nigeria’s NNPC to conduct feasibility study for oil refinery
• Milking it: solar coolers heat up earnings for Kenya’s dairy farmers
• South Africa’s Adcock calls for medicine price hike as weaker rand bites
• Kenya Airways expects better second half after H1 pretax losses narrow
• As Nigeria elections loom, refugees ordered back to unsafe region
• US air strike kills 3 al Shabaab militants – statement
• “Ghetto President” shakes up Ugandan politics
• South African farmers play chicken with Trump tariffs
• Five soldiers killed in northern Kenya – military
• Uganda shilling steady, interbank demand pressure eyed
• Kenyan shilling edges down on end month demand
• Steinhoff ex-CEO to appear in parliament next week over accounting scandal

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