By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Stocks decline, bonds surge on Trump’s Mexico threat
- Trump menaces Mexico with tariffs in surprise tweet
- Markets see recession risk, price in deeper Fed rate cuts
- China PMI disappoints with drop to 49.4 in May
- Europe stocks tumble, US futures in the red
- Bonds jump on safe-haven rush, US yields at fresh lows
Oil Markets
- Oil poised for biggest monthly drop in 6 mths on trade wars
- Analysts fear trade conflict will weigh on oil demand
- US crude stocks draw less than expected
- Brent down $1.15 at $65.72 per barrel (0844GMT)
- WTI down 74 cents at $55.85 per barrel
Precious metals
- Gold set for 1st monthly gain in 4 on Trump tariff threat, Fed cut hopes
- Spot gold has risen 0.7% so far this month
- Platinum heading for biggest monthly loss since Nov. 2015
- Silver on track for fourth straight monthly loss
- Spot gold up 0.3% at $1,292.78 per ounce (0617GMT)
- US gold futures up 0.4 pct at $1,292.60 an ounce
Grains
- Corn falls on Trump Mexico tariff, but set for 6% weekly gain
- Most active CBOT wheat futures down 1.8 pct at $5.05-1/2 per bushel (0124GMT)
- Most active corn futures down 1.2 pct at $4.31-1/4 per bushel
- Most active soy futures down 0.4 pct at $8.85-3/4 per bushel
- Most active rice futures unchanged at $11.66 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- South Africa state capture inquiry continues
- South Africa M3 money supply Apr-19 [act. 8.8% yy, fcst. 7.0%, prev. 7.0%]
- South Africa PSCE Apr-19 [act. 8.0% yy, fcst. 6.2%, prev. 6.1%]
- South Africa ABSA manufacturing PMI May-19 [prev. 47.2]
- South Africa ruling ANC holds NEC meeting
- Malawi’s Mutharika inauguration
- Former prime minister Tshisekedi mourning ceremony in Kinshasa, DRC; Rwanda’s Kagame attending. [Burial tomorrow, 1 June]
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- Zimbabwe says mines can pay for power in foreign currency to secure supply
- Vedanta say execs unable to visit KCM Zambia operation, engage with management
- South Africa’s rand weaker, stocks down in post cabinet drift
- South Africa budget retailer Mr Price expects tough first half
- South Africa credit demand growth jumps to 7.95 pct in April
- Zimbabwe’s forests fall, timber shortage tightens screws on carpenters
- Sudan’s military rulers say protest site threatens stability – TV
- Out of sight, out of mind: Zimbabwe locks up its disabled
- Sudan security orders offices of Qatar-based Al Jazeera TV close – office director
- Three men admit to the murder of two Scandinavian hikers in Morocco
- Eastern Libya forces release head of oil workers union
- Body of Etienne Tshisekedi returns to Congo two years after death
- Children under five dying at higher rate in Congo ebola epidemic – WHO
- African refugees evacuated from Libya to Italy, more help needed – UN
- South Africa’s rand backtracks, stocks ride cabinet cheer higher
- Zambia’s Konkola mines case a ‘warning’ to foreign investors
- Africa Oil – Trading muted pending tender results, backwardation weighs
- Congo forces kill 26 Islamist rebels in ebola zone shootout
- Rwanda’s Bank of Kigali in talks to buy local insurer Sonarwa
- Nigerian Senate approves $422 mln payment for fuel subsidy backlog
- Ethiopia PM presses plan to return displaced people after violence
- South Sudan reopens oilfield in the north, adds 5,000 bpd production
- South Africa’s Standard Bank shareholders vote down climate risk resolution
- Egypt’s M2 money supply growth slows to 11.33% y/y in April – c.bank
- Zimbabwe power cuts may deepen as water levels fall at Kariba Dam
- Kenya shilling forecast to ease due to oil importer demand
- Congo forces kill 26 ADF rebels while repelling attack – army
- Copper market faces larger shortages, supply issues simmer
- MTN Uganda’s deported CEO allowed to return – official
- Kenyan bank KCB wins shareholder backing for NBK takeover
- Zimbabwe says it owes foreign fuel suppliers $200 mln
- Living off trash: South Africa’s waste pickers reclaim the streets
- South African airline Comair appoints joint CEOs as part of diversification drive
- South Africa’s Amplats settles strike at Mototolo mine
- South Africa’s Life Healthcare posts 2.2% rise in first-half core profit
- Zambia turns up the nationalist heat on its copper miners: Andy Home
N.B. Full stories of above headlines are available on Reuters
