By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Fears of prolonged trade war weigh on Asia stocks; bonds rally
- MSCI Asia-Pacific index brushes new 4-mth low
- Weak market sentiment supports dollar
- Risk aversion drives 10-yr German bond yield near record low
- European stock futures modestly higher in early trade
Oil Markets
- Oil rises on declining US crude stocks, but trade war worries linger
- US crude inventories fal by 5.3 mln barrels – API
- Expectations were for 0.9 mln barrel fall – Reuters poll
- Iran oil exports drop to 400,000 bpd
- Escalating trade war a risk to oil demand – Bernstein
- China’s April refined fuel demand drops 2.4% – NDRC
- Brent up 0.6 pct at $69.85 per barrel (0700GMT)
- WTI up 0.8 pct at $59.29 per barrel
Precious metals
- Gold slips as strong dollar, bond rally offset boost from growth woes
- SPDR Gold holdings rise 0.5 pct on Wednesday
- Platinum falls to over 3-mth lows
- Spot gold down 0.2 pct at $1,277.29 per ounce (0536GMT)
- US gold futures down 0.4 pct at $1,276.30 an ounce
Grains
- Corn retreats from 3-yr high, planting delay caps losses
- Most active CBOT wheat futures down 0.3 pct at $4.89-1/4 per bushel (0115GMT)
- Most active corn futures down 0.7 pct at $4.15-3/4 per bushel
- Most active soy futures down 0.2 pct at $8.70 per bushel
- Most active rice futures down 0.3 pct at $11.68 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- AfCFTA takes effect
- South Africa cabinet swearing-in
- South Africa M3 Apr-19 [fcst. 7.0% yy, prev. 7.0%]
- South Africa PSCE Apr-19 [fcst. 6.2% yy, prev. 6.1%]
- South Africa PPI Apr-19 [fcst. 6.0% yy, prev. 6.2%]
- South Africa state captures inquiry continues
- Remains of father of DRC’s Tshisekedi expected from Belgium
- Tanzania’s Magufuli in Zimbabwe
- UN Habitat Assembly continues in Nairobi, Kenya
- Nigeria’s Buhari heads to Saudi Arabia for OIC summit
- Egypt M2 money supply Apr-19 [prev. 11.4% yy]
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 Amplats settles strike at Mototolo mine
- South Africa’s Life Healthcare posts 2.2 pct rise in first half core profit
- Burundi raises 2019/20 spending by 8 pct, finance minister says
- South Africa’s rand steady, markets digest cabinet news
- Congo’s ebola epidemic inflicts heavy toll on children
- South Africa’s FirstRand cuts fees as ‘war’ with new rivals escalates
- South Africa’s Ramaphosa retains Mboweni, Gordhan in new, leaner cabinet
- Sudan – Khartoum banks shuttered on second day of opposition strikes
- Athletics – South Africa’s Semenya files appeal to Swiss supreme court
- Nigeria’s Buhari kicks off challenge-filled second term with low-key inauguration
- Kenya’s NSE gets regulatory approval for derivatives market
- In Nigeria, empowering women means exposing them to violence
- Africa Oil – Brent-Dubai spread seen hurting Asian demand
- Shell pledges to reveal the taxes it pays in every country
- Weak South African economy prompting higher debt defaults – cenbank
- Africa Soccer – Security committee established for Nations Cup, says CAF president
- South African airline Comair appoints joint CEOs as part of diversification drive
- Vedanta’s Agarwal says willing to invest in Zambia
- Banks shuttered as Sudan opposition stages second day of strikes
- South African airline Comair appoints joint CEOs
- Chairman of South Africa’s Sibanye-Stillwater to resign
- Namibia says China can buy Rio’s uranium stake if it respects laws
- Zambia turns up the nationalist heat on its copper miners: Andy Home
- Kenya’s capital markets regulator approves bourse to start derivatives market
- Total to hold talks with Algeria over Anadarko assets
- Algeria to take months to make final Total deal decision
- Nigeria’s president sworn in for second term
- Pouyanne says Anadarko Africa assets at heart of Total’s strategy
- Kenya shilling inches down against the dollar
- South African consumer confidence recovers slightly in Q2, survey show
N.B. Full stories of above headlines are available on Reuters
