By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asia shares sluggish as global growth concerns return; ECB meeting eyed
• Wall St stocks fall to 3-wk low on growth worries
• OECD cuts global growth forecasts again
• US goods trade deficit hits record high in 2018
• ECB in focus; set to lower outlook, could hint new TLTROs

Oil Markets

• Oil edges up on OPEC cuts, US sanctions against Venezuela and Iran
• OPEC has led supply cuts this year to tighten market
• Venezuela’s PDVSA struggles to export oil amid US sanctions
• US crude oil inventories rise amid record output – EIA
• Brent crude futures up 0.6 pct at $66.36 per barrel (0234GMT)
• US WTI crude futures up 0.4 pct at $56.45 per barrel

Precious metals

• Gold firm as risk sentiment takes backseat; strong dollar caps gains
• Gold may hover above $1,283/oz support – analyst
• Platinum touch lowest since Feb. 22 at $819/oz
• Spot gold steady at $1,286.25 per ounce (0521GMT)
• US gold futures down 0.1 pct at $1,286.70 an ounce

Grains

• Wheat steadies, but tepid US export demand caps gains
• Most active CBOT wheat futures up 0.1 pct at $4.50-1/2 per bushel (0335GMT)
• Most active corn futures down 0.3 pct at $3.71-1/2 per bushel
• Most active soy futures unchanged at $9.02 per bushel
• Most active rice futures unchanged at $10.87 per hundredweight

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

• Kenya 6^th devolution conference to close; by DP Ruto
• South Africa’s Ramaphosa to answer questions in parliament
• South Africa current account balance data for Q4-2018 expected [fcst. -3.2% of GDP, prev. -3.5%]

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 net foreign reserves rise to $43.7 bln in February
• South Africa’s MTN to raise $1 bln from asset sales, FY profit surges 85 pct
• South Africa’s top insurer Sanlam FY earnings drop by 8 pct
• Libya’s NOC, oil majors set up $20 mln fund to support local near oilfield
• South African leader condemns violence against women as assault film goes viral
• Nigeria opposition to inspect vote materials after Buhari’s win
• Sudan’s Bashir appoints new central bank governor – presidency
• South Africa’s Sasfin, Hello Paisa launch bank for thousands without accounts
• Sudan opposition party says security officials thwart its news conference
• Algeria war veterans back protests demanding end to Bouteflika’s rule
• Africa Crude – Traders await tender result, spot demand slows
• Algeria labour union branches oppose Bouteflika’s re-election – statement
• People with albinism protest in Malawi as attacks spike ahead of polls
• South Africa central bank says unrealistic to target specific employment level
• France monitoring Algeria protests, says up to people to decide future
• Traffickers used Russia’s World Cup to enslave us, say Nigerian women
• Egypt activists and media targeted by phishing attacks – Amnesty
• Flights resume after strike at Kenya’s main airport grounds thousands of passengers
• Tunisia to hold autumn parliamentary and presidential elections
• Zimbabwe says rapprochement with West still on despite US sanctions
• Kenya’s KCB Group reports rebound in annual earnings, shares up
• Cameroon risks further slide into violence – UN rights chief
• South Africa central bank still sees 2019 growth at 1.7 pct
• Debt inflows, remittances support Kenyan shilling
• Uganda shilling weakens as dividend payments weigh
• South Africa business confidence falls to 5-mth low in Feb
• African fuel retailer Vivo Energy posts higher profit, volumes
• Foreign holdings in Egypt treasuries at $15.8 bln – finmin
• Zambia plans to swap Chinese debt from dollars to yuan – minister

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