By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Shares subdued as trade risk sours rate hopes
- Trump tweets on lack of progress in Mexico talks
- Mexican peso takes added blow on Fitch downgrade
- Wagers on Fed rate cut underpin Wall Street
- Oil bruised after falling to 5-mth low
Oil Markets
- Oil stutters at over 4-mth low on rising US supply, demand fears
- US crude oil output hits record 12.4 mln bpd – EIA
- US crude inventories at highest since July 2017 – EIA
- Brent down 0.2 pct at $60.50 per barrel (0108GMT)
- WTI down 0.1 pct at $51.62 per barrel
Precious metals
- Gold steadies after falling from 15-wk peak; rate cut hopes support
- SPDR Gold holdings fall 0.3 pct on Wednesday
- Spot gold might fall to $1,315-$1,321/oz – technicals
- Silver market may be bottoming – HSBC
- Spot gold up 0.1 pct at $1,331.43 per ounce (0546GMT)
- US gold futures up 0.2 pct at $1,335.60 an ounce
Grains
- Wheat jumps nearly 1 pct, gains checked as US crop fears ease
- Most active CBOT wheat futures up 0.8 pct at $4.94-3/4 per bushel (0105GMT)
- Most active corn futures down 0.2 pct at $4.14 per bushel
- Most active soybean futures down 0.3 pct at $8.67 per bushel
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- Uganda’s Museveni to deliver state of nation address
- South Africa current account balance Q1-19 [fcst. -3.1% of GDP, prev. -2.2%]
- Nigeria Stanbic IBTC PMI May-19 [prev. 55.5]
- Nigeria’s legislature to hold valedictory session; inauguration of new cohort on 11 June
- Ghana’s Akufo-Addo in Nigeria; met Buhari yesterday
- EFF’s Malema to testify before Joint South African Human Rights Commission & Public Protector Alexandra inquiry
- South Africa state capture inquiry continues
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- ‘We live in fear’: Facing dry times, rural South Africans rethink water
- Sudan opposition rejects military’s offer of talks, dozens killed
- Sudan health ministry says death toll from violence is 46 – state news agency
- Cotton waste biofuel powers farmers to fight drought in Kenya
- UAE is watching Sudan developments with concern – statement
- UN says to move some staff out of Sudan temporarily
- In Sudan crackdown, bullets fly as doctors struggle
- Senegal president says truth of BP gas deal will be established
- Soccer – African Champions League final to be replayed
- South African central bank row exposes ANC divisions
- Ebola listening projects take cues from community to improve response
- South African president meets state firm chiefs after resignations
- South Africa’s rand sinks to 1-wk low amid row over central bank role
- Russia’s VTB bank says no decision yet on sale of Africa unit
- Sudan opposition medics say death toll from violence exceeds 100
- Africa Oil – Trading favours late buyers as prices trend downward
- Militant attack in Sinai kills 8 Egypt security personnel
- Sudan opposition snubs military council’s talks invitation
- Sudan rebel leader Yasir Arman detained – spokesman
- In Sudan crackdown, bullets fly as doctors struggle
- Saudi Arabia is watching Sudan developments with concern – state media
- Deputy head of Sudan rebel group detained – spokesman
- Zimbabwe and EU seek to move on from Mugabe-era strains
- 5 dead, dozens feared missing after landslides in Uganda
- Namibia’s economy expected to contract again in 2019 – IMF
- Sudan’s military rulers say they have launched investigation into violence
- South Africa’s Sibanye-Stillwater reduces job cut plan in gold shake-up
- South Africa doesn’t have conditions for quantitative easing – cbank gov
- South African business confidence marginally lower in May – SACCI
- South African rand volatility gauge touches near 2-mth high
- South Africa finmin: nobody talking about changing central bank mandate
- World leaders urged to make female circumcision a priority like HIV
- South Africa c.bank governor says primary mandate is price stability
- South African Communist Party says central bank mandate should include job creation
- Cameroon tops list of world’s most neglected displacement crises
N.B. Full stories of above headlines are available on Reuters
