By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Growth woes, trade tension douse rally in Asian shares
- MSCI ex-Japan falters from near 8-mth highs led by China
- Dollar eases for a fourth straight day after weak CPI, Fed minutes
- Sterling firmer after Europe extends Brexit deadline
Oil Markets
- Oil prices slip on economic worries, surging US crude supply
- US crude inventories rise to highest since Nov 2017 – EIA
- US crude output remains at record 12.2 mbpd
- Global markets remain tight amid OPEC cuts, US sanctions
- Brent down 0.3 pct at $71.52 per barrel (0642GMT)
- WTI down 0.4 pct at $64.34 per barrel
Precious metals
- Gold holds near 2-wk high on dovish central banks
- Gold should see support toward $1,300-$1,305/oz level – MKS
- Spot gold down 0.2 pct at $1,304.99 per ounce (0733GMT)
- US gold futures down 0.4 pct at $1,309.30 an ounce
Grains
- Corn prices supported by US planting delays; wheat rebounds
- Most active CBOT wheat futures up 0.6 pct at $4.60-1/2 per bushel (0708GMT)
- Most active corn futures unchanged at $3.61-3/4 per bushel
- Most active soy futures up about 0.1 pct at $9.02-1/2 per bushel
- Most active rice futures up about 0.1 pct at $10.24 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- South Africa manufacturing production data for Feb-19 [fcst. 1.1% yy, prev. 0.3%]
- South Africa mining production data for Feb-19 [fcst. -3.1% yy, prev. -3.3%]
- South Africa state capture inquiry resumes
- South Africa’s Ramaphosa on campaign trail in Alexandra, Johannesburg
- Kenya’s Kenyatta in Mauritius
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- Nigeria military forced a town of 10,000 people to relocate for security operation, UN says
- Govt sources, provincial minister say Sudan’s Bashir stepped down
- Sudan military expected to announce end to Bashir rule – sources
- Tens of thousands march through Sudan capital Khartoum
- Kenya shilling weakens due to importer demand, excess liquidity
- Military deploys in Sudan’s capital, anti-Bashir protest grows – Reuters witness
- How mass rape in genocide transformed Rwanda’s response to AIDS
- Libya – Thousands flee Tripoli homes as battle rages on outskirts
- France blocks EU call to stop Haftar’s offensive in Libya
- Hundreds of Morocco teachers protest for job security
- 11 killed in Sudan protests including six ‘state forces’ – govt spokesman
- Nigeria plans special economic zones to double manufacturing by 2025
- Algeria to hold July 4 presidential election after mass protests
- Egypt blocks campaign site opposing constitutional changes – monitor
- Africa Crude – India’s IOC mops up some slow-selling cargoes
- Ivory Coast 2018 gold output falls 3.5 pct due to strikes
- Egypt’s annual headline inflation eases slightly to 14.2 pct in March
- WHO experts to decide whether Congo ebola outbreak is international emergency
- Zimbabwe mulls ‘use it or lose it’ approach to mining rights
- Algeria army chief says judiciary will reopen Sonatrach investigation – state tv
- Egypt’s core inflation falls to 8.9 pct y/y in March – cbank
- Algeria army chief says judiciary to start prosecuting “the gang” – Ennahar TV
- Algeria army chief says will support transitional period – Ennahar
- EU parliament head says Europe divided over Libya
- Algeria interior ministry allows 10 new political parties – Ennahar TV
- Uganda shilling weakens on surge in importer and banks’ demand
- Absa sees Nigeria expansion plan ready for second half
- South Africa business confidence drops to 7-mth low in March
- France expresses regret over expulsion of AFP’s Algeria bureau chief
- Nearly 2,000 Zambia villagers can sue Vedanta in England – Supreme Court
- South Africa reports farm outbreak of African swine fever – OIE
- Uganda seizes 8 suspects over American tourtist’s kidnap
- Kenya shilling gains ground, helped by remittances
- Nissan South Africa to invest $213 mln to build new Navara model
- Refugees in Egypt struggle to live as economic hardships deepen
N.B. Full stories of above headlines are available on Reuters
