By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asia stocks edge up cautiously as Fed jitters build, Europe seen lower
- Asian markets edge up, European futures point to mixed open
- Stocks kept in range before Fed’s 2-day policy meeting
- Oil extends fall, growth woes outweigh Middle East concerns
Oil Markets
- Oil prices fall for second day on economic growth worries
- Oil markets have fallen around 20% since 2019 highs
- But Middle East tensions supporting prices
- Brent down 0.3% at $60.75 a barrel (0320GMT)
- WTI down 0.3% at $51.76 a barrel
Precious metals
- Gold holds steady ahead of Fed meeting
- Spot gold steady at $1,340.51 an ounce (0126GMT)
- US gold futures unchanged at $1,343 an ounce
Grains
- Soybean prices climb nearly 1%, hit more than 3-mth high
- Most active CBOT soybean futures up 0.7% at $9.19 a bushel (0045GMT)
- Most active corn futures down 0.4% at $4.53 a bushel
- Most active wheat futures down 1% at $5.34-1/2 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- US-Africa Business Summit in Maputo, Mozambique; 18-21 Jun [Trump’s “Prosper Africa” initiative to be launched]
- South Africa state capture inquiry & PIC inquiry resume
- ECOWAS finance ministers and cenbank chiefs meet on single currency in Abidjan, Ivory Coast
- Uganda central bank MPC decision [fcst. 10.0%, prev. 10.0%]
- Equatorial Guinea’s Obiang in Addis Ababa, Ethiopia as AU’s 2019 refugees & IDPs theme champion
- South Africa’s Maimane press conference on state of DA-led governments
- 5th annual meeting of the ID4Africa Movement in Johannesburg, South Africa; 18-20 Jun
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- Former Egypt president Mursi buried in Cairo, son says
- Former Egypt president Mursi died from a heart attack – state TV
- Egypt authorities refuse Mursi’s burial in family cemetery – son
- Triple suicide attack kills at least 30 in northeast Nigeria
- Amnesty International urges fair Egypt inquiry into Mursi’s death
- Oil production at Libya’s Jalu field halted for maintenance – NOC
- Muslim Brotherhood says Mursi death was “full-fledged murder”, calls for mass funeral in Egypt
- Egypt prosecutor: Mursi collapsed in cage in court, no sign of injury
- Algeria partner of Germany’s VW held over graft allegations – state TV
- Africa Oil – Angola programme appears, some Nigerian sellers bullish
- Zambia’s Mopani Copper Mines shuts down smelter
- Ethiopia to split state telecoms provider into two before privatisation
- Prince Harry backs mine clearance in Angola, following in Diana’s footsteps
- Congo court upholds suspension of Vodacom’s 2G licence
- Mozambique says 2 border police killed in shooting incident
- Egypt’s Tourah Cement stops production due to oversupply
- Chad opposition leader arrested in France on crime against humanity charges
- At least 161 dead in northeast Congo in apparent ethnic clashes
- Nigeria consumer inflation edges up to 11.4% in May – stats office
- Kenya parliament will block repeal of rate cap, lawmaker says
- Kenya shilling weakens on excess money market liquidity
- Zimbabwe inflation soars to 10-yr high of 97.85% y/y in May
- Airtel Africa expects London IPO to be priced between 80-100 pence share
N.B. Full stories of above headlines are available on Reuters
