#Africa #Markets | 7 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares up on policy easing hopes, yuan slips on PBOC signals
  • PBoC chief says ample room to ease policy if needed, dollar rises
  • China, Hong Kong markets closed for public holiday
  • White House denies delay in Mexico tariffs
  • US payrolls seen +185k but risks on downside

Oil Markets

  • Oil prices extends gains, move further away from 5-mth lows
  • Brent up 0.8 pct at $62.17 per barrel (0041GMT)
  • WTI up 1 pct at $53.09 per barrel

Precious metals

  • Gold set for best week in 2019 on rate cut views; eyes on US jobs data
  • Gold up 2.1% so far this week
  • Platinum on track for its first weekly gain in 7
  • Silver set to post best week in over 4 months
  • Spot gold down 0.2 pct at $1,332.31 per ounce (0122GMT)
  • US gold futures down 0.4 pct at $1,337 an ounce

Grains

  • Wheat dips, but set to finish week up 1 pct
  • Most active CBOT wheat futures up about 1 pct for the week
  • Most active soybean futures down about 1 pct so far this week
  • Most active corn futures down 1.5 pct for the week

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

  • Liberia June 7 protest
  • Ethiopia’s Ahmed in Sudan to mediate political crisis
  • Botswana’s Masisi media briefing on return from US trip
  • South Africa FX reserves May-19 [act.$48.3B, prev. $49.5B]
  • Nigeria Stanbic IBTC PMI May-19 [act. 52.9, prev. 55.5]
  • Nigeria releases Q1-2019 trade data
  • South Africa state capture inquiry continues
  • Zimbabwe national cleanup day

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Ethiopia PM Abiy in Sudan to meet with chief of military council
  • Kenya shilling firm on diaspora remittances inflows
  • South Africa rand continues to tumble on central bank worries
  • South Africa net foreign reserves slip to $43.18 bln in May
  • UN finds 115 mln ‘child grooms’ with CAR topping list
  • Eastern Libya forces attack Tripoli airport for second night
  • 3 protesters killed in Nigeria’s Adamawa state – sources
  • Algeria’s interim president calls for dialogue to prepare new elections
  • African bloc suspends Sudan, demanding end to military rule
  • 1 in 4 ebola cases undetected in Congo – WHO
  • Sierra Leone’s first lady confronted over FGM controversy
  • 2 Canadian aid workers kidnapped in central Ghana – police
  • UK summons Sudan envoy to raise concerns about Khartoum violence
  • Africa Oil – Trading muted on IOC tender, Angolan cargoes dwindle
  • South Africa’s ANC insists policy on central bank role has not changed
  • Malawi police use tear gas as opposition protests grow
  • Soccer – CAF president Ahmad questioned by French authorities
  • South African current account deficit widens to 2.9% of GDP in Q1 2019
  • AU suspends Sudan from its activities till civilian govt formed
  • Mali plans 9.4% budget increase for 2020 to deal with security issues
  • Sudan crackdown highlights role of feared paramilitary unit – Amnesty
  • Nigeria petroleum regulator revokes six oil block licenses
  • Egypt forces kill 14 suspected militants after checkpoint attack
  • Kenya’s ‘stabilising hand’ c.bank chief gets second term
  • Uganda shilling trades weaker on importer demand
  • South Africa’s rand falls as ANC squabbles over central bank
  • Kenya president renews central bank governor’s term – govt gazette

N.B. Full stories of above headlines are available on Reuters

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