By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asian stocks slip amid persisting trade angst, political tensions
• Focus shifts to trade, Middle East tensions after Fed euphoria
• European stocks futures decline early trade
• Gold advances to 6-yr high, crude dips after big surge
• Dollar struggles, govt bonds buoyant post-Fed

Oil Markets

• Oil rises towards $65 on fears of US attack on Iran
• Oil extends gains after 5 pct rally on Thursday
• Trump warned Iran via Oman of imminent attack – sources
• Trump approved strike, then pulled back – NYT
• Iran not keen on talks, warns of consequences – sources
• Brent up 0.7% at $64.87 a barrel (0850GMT)
• WTI up 0.4% at $57.28 a barrel

Precious metals

• Gold scales near 6-yr peak on dovish Fed signals
• Spot gold up 0.4% at $1,392.81 an ounce (0128GMT)
• US gold futures up 0.1% at $1,398.10 an ounce

Grains

• Corn prices extend gains as rains threaten US planting
• Most active CBOT wheat futures up 0.2% at $5.27-3/4 per bushel (0106GMT)
• Most active corn futures up 0.9% at $4.54 per bushel
• Most active soy futures up 0.1% at $9.16-1/4 per bushel
• Most active rice futures down 0.1% at $11.22 per hundredweight

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

• Kenya’s Kenyatta Rift Valley tour
• Malawi presidential election tribunal ruling expected
• US-Africa Business Summit in Maputo, Mozambique; 18-21 Jun
• Afreximbank 2019 annual meetings in Moscow
• South Africa state capture inquiry continues
• 2019 Africa Public Service Day in Nairobi, Kenya; Kenyatta speech
• Senegal’s Sall in Ivory Coast

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

• South African rand falls after Ramaphosa speech seen lacking details
• Vodacom unit to sell operations in 4 African markets
• French car maker PSA opens $630 mln Morocco plant
• South Africa’s Ramaphosa says Eskom too vital to fail
• South African National Treasury hopes for swift approval of bill to speed up funds to Eskom
• Africa Oil – Angolan trades in the window
• Hundreds demonstrate for civilian rule in Sudan’s state capitals
• Displaced families suffering subhuman conditions in Ethiopia – Egeland
• US finds Nigeria, Niger improving anti-trafficking efforts
• Zambia court rejects Vedanta bid to join liquidation case
• Mercuria, South African firms place bids for South32’s SAEC coal mines
• Lafarge Africa rises to 3-wk high after it sells South African unit
• Heavy rains dampen Nigeria’s 2018/19 cocoa outlook
• African Bank moves to stem client exodus, safeguard South African comeback
• Kenya shilling weakness not linked to bank note plan – cbank
• South Sudan lawmakers quit budget presentation over unpaid public salaries
• Sudan’s military council dismisses public prosecutor, appoints replacement – sources
• Zimbabwe’s currency hits new low, firms demanding payment in US dollars
• Uganda shilling strengthens on inflows from offshore investors
• Turkey’s Erdogan says he believes UN will look into death of Egypt’s Mursi
• Kenya central bank governor says recent downward movement of shilling not an issue
• Marketing division manager Kyari to head Nigerian state oil firm
• Soccer – FIFA expected to take over the running of African football
• Kenya slashes 2030 power production targets as usage still low – media
• Nigeria’s Buhari appoints new head of state oil firm – NNPC statement
• Angola oil struggles to sell on demand fears, weak margins

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