By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Stocks climb trade, rate cut optimism; yuan falters
• Shares climb after Trump scraps Mexico tariffs
• European markets move higher, US stocks futures up
• Weak US payrolls data bolsters Fed rate cut expectations
• Yuan at late-2018 lows; China’s May imports disappoint

Oil Markets

• Oil steady with supply tight, but US-China trade war threatens demand
• China’s May crude imports dip from record highs
• Saudi Arabia says ongoing supply cuts likely
• Brent up 0.2 pct at $63.42 per barrel (0850GMT)
• WTI up 0.4 pct at $54.19 per barrel

Precious metals

• Gold drops from 14-mth high as US-Mexico deal lifts risk assets
• Speculators raised net gold longs in week to June 4 – CFTC
• Spot gold down 0.9 pct at $1,328.41 per ounce (0952GMT)
• US gold futures down 1.1 pct at $1,331.9 an ounce

Grains

• Corn, soybeans fall as weather allows more US plantings
• Expectations of planting progress weigh on corn, beans
• Wheat falls for 2^nd session, tracking losses in corn futures
• Most active CBOT corn contract down 0.7 pct at $4.13 a bushel (1127GMT)
• Most active soybean contract down 0.5 pct at $8.51-3/4 per bushel
• Most active wheat contract down 1.5 pct at $4.97 a bushel

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

• Nigeria presidential election tribunal resumes
• Ethiopia parliament to approve telecoms liberalisation law
• South Africa’s Ramaphosa in Geneva for ILO summit
• AfDB meetings in Malabo, Equatorial Guinea; 11-14 Jun
• South Africa state capture inquiry resumes

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

• China ready for trade talks with East Africa bloc – ambassador to Kenya
• Subsidise solar mini-grids to power rural Africa, investors urge
• Nigeria’s securities regulator suspends Oando’s annual shareholder meeting
• Tanzania central bank cuts reserve requirement to lift lending
• Egypt headline inflation rises as food costs jump
• Moody’s lowers South African growth forecast after Q1 slump
• Soccer – Iheanacho dropped by Nigeria for Cup of Nations
• Moody’s says South Africa Q1 GDP contraction credit negative
• Kenya shilling firms, supported by diaspora remittances inflows
• South African rand starts week on stronger footing
• Egypt annual headline inflation rises to 14.1% in May
• Shutting up shop: Libya conflict squeezes southern Tunisia
• ‘We want water’ say residents as Abidjan grows drier
• Egypt non-oil private-sector activity contracts after brief growth
• 2 Lebanese workers kidnapped in Nigeria’s Rivers state
• 2 Sudan rebel leaders arrested after meeting Ethiopia PM – sources
• Thousands protest in Liberia against corruption, economic decline
• As violence rages, Cameroon govt in denial, HRW says
• Ethiopia attempts to mediate Sudan crisis after bloodshed
• New app seeks to reunite South Sudan’s ‘lost children’ with families
• Sudan opposition says it accepts Ethiopia PM as mediator under conditions
• Africa Oil – Nigerian diffs ease but buyers remain elusive
• Zimbabwe president says new currency a must by year-end
• UAE senior official supports investigation of “massacre” in Sudan
• South Africa Airways requests urgent state funding as it appoints interim CEO
• African soccer boss free after corruption questioning
• ‘You all go’ – thousands of Algerians demonstrate for political reforms
• Activists urge banks not to finance Uganda oil pipeline
• Ethiopia parliament to approve telecoms liberalisation law
• South Africa carrier SAA says 4 bln rand govt bailout would ease liquidity crunch
• Uganda shilling trades unchanged as importers trim demand
• Kenya shilling firm on diaspora remittances inflows
• South Africa’s net foreign reserves slip to $43.18 bln in May

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