By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asia shares edge up to 8-mth peak, oil settles
- MSCI Asia-Pacific hits 8-mth high as Chinese shares rise
- Europe expected to begin cautiously
- Brexit summit, ECB meeting, earnings season in focus
Oil Markets
- Oil near 5-mth highs amid Libya violence, OPEC cuts, US sanctions
- US sanctions against Iran, Venezuela further tighten market
- Libya fighting triggers concerns over its oil exports
- Slowing economy could weigh on fuel consumption later this year
- Brent at $70.99 per barrel (0700GMT), easing from $71.34 (Nov 2018 high) earlier
- WTI at $64.42 per barrel, easing $64.77 (Nov 2018 high) earlier
Precious metals
- Gold prices gain as dollar loses ground after weak US data
- SPDR gold holdings drop for 6th straight session
- Platinum hovers below 10-mth peak hit on Monday
- Spot gold up 0.2 pct at $1,299.34 per ounce (0534GMT)
- US gold futures up 0.1 pct at $1,303.20 an ounce
Grains
- Wheat drops to 1-wk low on US crop condition, corn eases for 3rd day
- Most active CBOT wheat futres down 1 pct at $4.60-3/4 per bushel (0113GMT)
- Most active corn futures down 0.1 pct at $3.59-3/4 per bushel
- Most active soy futures largely unchanged at $8.99 per bushel
- Most active rice futures down 0.5 pct at $10.37 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- South Africa PIC inquiry continues
- South Africa’s Ramaphosa to be briefed by PRASA at its offices in Cape Town
- Bank of Namibia MPC decision [fcst. 6.75%, prev. 6.75%]
- EABC CEO roundtable in Arusha, Tanzania
- IMF world economic update
- World Bank Kenya economic update
- Signing of IEC electoral code of conduct by South Africa’s political parties
- Egypt’s Sisi in US; to meet Trump today
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- Sudan security forces in fresh attempt to clear protesters outside defence ministry
- South Africa’s carbon tax could cost Amplats up to $21 mln – CEO
- South Africa’s rand on the front foot in early trade
- Kenya central bank says to hold rate-setting meeting on May 27
- Heavy gunfire heard at protest in Sudan’s capital – live TV
- Libya’s UN-backed leader receives phone call from Italy’s Conte
- US tourist, guide kidnapped in Uganda freed after ‘settlement’ – tour firm
- Trump, Egypt’s Sisi to discuss security during White House visit
- Drought to drag down Kenya’s 2019 economic growth, World Bank says
- Battle rages for Libya’s capital, airport bombed
- Sudan army blocks attempt to disperse protesters – witnesses
- Libya’s UN-backed PM in Tripoli receives phone call from Macron
- Eastern Libya force confirms air strike in Tripoli’s only functioning airport
- Nigeria seeks private investors for aircraft leasing venture
- UN envoy to Libya condems attack on Tripoli’s Mitiga airport
- Sudan’s defence minister says security forces won’t permit attempts to divide them – SUNA
- Egypt strategic rice reserves at six months after latest purchase – ministry
- Africa Crude – Angolan clearing for May as Nigerian still struggles
- Eastern Libya forces lose control of former Tripoli international airport – witnesses
- Rwanda rebel group spokesman faces terrorism-related charges in Kigali court
- World Bank cuts Zambia’s 2019 GDP growth forecast
- 7 people killed over 2 days during protests in Sudan – interior minister
- Sub-Saharan Africa economic growth recovery to take longer – World Bank
- Fighting in south of Libya capital kills 25, wounds 80 – health ministry
- Egypt unveils 2,500 yr-old mummy at forgotten cemetery
- South Africa court says Mozambique ex-finance minister can be extradited to US – lawyer
- UN repeats calls for Libya truce to allow evacuations
- UN tells Libya’s Serraj it is staying in Tripoli at critical time
- France had no warning of Haftar’s advance on Tripoli, Libya – French diplomatic source
- EU’s Mogherini calls for humanitarian truce in Libya
- Zimabwe to start paying white farmers compensation in April
N.B. Full stories of above headlines are available on Reuters