By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asia stocks dip after Fed tapers aggressive easing expectations
- European stock futures slip in early trade
- Fed’s Powell, Bullard temper July rate cut expectations
- Dollar crawls up from 3-mth lows on Fed officials’ comments
- RBNZ stands pat on policy but flags more easing ahead
- Gold dips from 6-yr high, but still up 8.5% for the month
Oil Markets
- Oil prices climb amid fall in US stockpiles, Middle East worries
- Brent up 1.4% at $65.97 a barrel (0006GMT)
- WTI up 2% at $58.97 a barrel
Precious metals
- Gold drops over 1% as Fed dashes imminet rate-cut hopes
- SPDR Gold holdings fell 0.3% on Tuesday
- Spot gold may test support at $1,404/oz – technicals
- Spot gold down 1.1% at $1,406.91 per ounce (0714GMT)
- US gold futures down 0.6% at $1,410.60 an ounce
Grains
- Corn edges down, recent crop damage caps losses
- Most active CBOT wheat futures down 0.2% at $5.38-3/4 per bushel (0059GMT)
- Most active corn futures down 0.4% at $4.45-3/4 per bushel
- Most active soy futures down 0.4% at $9.00 per bushel
- Most active rice futures nearly unchanged at $11.39 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- South Africa’s Ramaphosa response to SONA debate in parliament
- South Africa state capture inquiry continues
- Nigeria pre-trial hearing of PDP petition at presidential election tribunal
- Nigeria’s Osinbajo in US; to meet Pence, etc.
- South Africa PIC inquiry continues
- Uganda’s Museveni in Beijing; attending China-Africa economic & trade expo
- US Army’s 7th African land forces summit (ALFS) in Gaborone, Botswana; 24-27 Jun
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- South Africa’s rand gains as risk demand slows
- Tullow Oil’s Kenyan, Ugandan projects timelines slip
- Tullow Oil delays Kenya project decision, Uganda deal pending
- Egypt detains opposition leader accusing him of anti-govt plot
- US to consider sanctions in case of more Sudan violence
- South African sisters describe Saudi detention and complain to UN
- South Africa’s state defence firm struggling to pay wages
- Zimbabwe’s Mnangagwa talks up currency reform but business wary
- Egypt aims to tap debt markets for up to $7 bln in new financial year
- Africa Oil – Nigerian crude exports set to rise as diffs stay strong
- Ethiopia pays tribute to slain military chief
- Tanzania issues new rules to tighten foreign currency exchange controls
- Zimbabwe labour group threatens protests over ban on foreign currencies
- Campaign groups accuse Total of breaching French corporate duty law in Uganda
- South Africa’s Omnia to evaluate businesses as thin margins, high debt weigh
- Selling sketches and clothes, Libyan women set up businesses against the odds
- Kenya govt, Tullow Oil, Africa Oil and Total sign deal to develop crude oil facility
- Rwanda’s rhino population grows, tourists expected to increase
- Egypt detains leader of 2011 uprising over alleged anti-govt plot
- Kenya tribe divided over women’s land rights after landmark ruling
- Uganda shilling weakens due to manufacturing, energy demand
- Ex-South Africa president Zuma to attend ‘prejudiced’ graft inquiry – lawyer
- Kenya shilling firms against the dollar
- South Africa’s state defence firm Denel struggling to pay wages
- South Africa’s Amplats expects 80 pct jump in half-year earnings
N.B. Full stories of above headlines are available on Reuters
