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 6th 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
