By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asian shares slip, gold gains as Trump-Xi trade jitters build
- MSCI Asia ex-Japan drops 0.25%; Nikkei off 0.29%
- European shares seen flat at the open
- Gold firms on trade uncertainty, weak dollar
- US treasury yields remain near recent lows
Oil Markets
- Oil prices slip ahead of G20 talks, OPEC meet
- Russian president says OPEC deal to be on G20 agenda
- OPEC members plus Russia, others to meet in Vienna
- Brent down 0.5% at $66.20 per barrel (0644GMT)
- WTI down 0.5% at $59.13 a barrel
Precious metals
- Gold rises on trade uncertainty; on course for best month in 3 years
- Bullion up nearly 8.4% this month
- Silver to post biggest monthly gain in 6 mths
- Palladium head for best month 2-1/2 years
- Spot gold may test resistance at $1,439/oz – technicals
- Spot gold up 0.4% at $1,414.61 per ounce (0540GMT)
- US gold futures up 0.8% at $1,423.40 an ounce
Grains
- Corn holds steady ahead of USDA report, but set to close June with 3% gain
- Corn rallies in recent weeks as rains slow planting
- Wheat up for 2nd month as European temperatures soar
- Most active CBOT wheat futures down 0.1% at $5.46-1/2 per bushel (0234GMT)
- Most active corn futures down 0.1% at $4.39-1/2 per bushel
- Most active soy futures up 0.1% at $8.89 per bushel
- Most active rice futures down 0.2% at $11.48 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- G20 summit in Osaka; South Africa’s Ramaphosa, Egypt’s Sisi, & Senegal’s Sall attending
- ECOWAS summit in Abuja, Nigeria; 28-29 Jun
- Africa regional trade forum in Addis, Ethiopia; 27-28 Jun
- Rwanda’s Kagame state visit to Botswana; 27-28 Jun
- 1st China-Africa economic and trade expo in Changsha
- South Africa PSCE May-19 [act.7.7% yy, fcst. 8.2%, prev. 8.0%]
- South Africa M3 May-19 [act. 9.1% yy, fcst. 8.6%, prev. 8.8%]
- Kenya inflation Jun-19 [fcst. 6.6% yy, prev. 5.5%]
- Zambia inflation Jun-19 [fcst. 8.6% yy, prev. 8.1%]
- Uganda inflation Jun-19 [fcst. 3.8% yy, prev. 3.3%]
- Nigeria FX reserves Jun-19 [prev. $45.1B]
- South Africa trade balance May-19 [prev. ZAR-3.4B]
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 firmer as bulls wrestle bears ahead of G20
- Airtel Africa drops 12.5% in early trade after London debut
- Ivory Coast and Ghana team up for greater share of chocolate wealth
- Airtel Africa prices London listing at bottom of range – bookrunner
- South Africa credit demand growth slows to 7.66% in May
- US “gag rule” linked to 40% jump in abortions in parts of Africa
- Nearly 250 arrested in Ethiopia after foiled coup – state TV
- 1 dead, several wounded in 2 suicide bomb attacks in Tunisian capital
- Tunisia president hospitalised “in severe health crisis”- presidency
- Law passed to restrict foreign film production in Tanzania
- Securiy forces use tear gas to disperse students in Sudan’s Khartoum
- Accident at Glencore mine kills at least 41 in Congo
- Morocco prosecutor seeks death sentences in Scandinavian women murder trial
- South African cement firm PPC’s profits boosted by cost cuts
- South Africa’s Grand Parade appoints acting CEO as new head
- UK’s Harry and Meghan head to Africa for first family tour
- Africa Oil – Angolan July overhang clears on signs of optimism for WAF
- Swiss govt to mediate Cameroon peace talks
- Violence affects more people than ever before in Africa’s Sahel
- Zambia court blocks asset sale by Konkola Copper Mines liquidator
- Uber targest expansion in fast-growing West African markets
- Twin attacks threaten new Ethiopian govt reforms
- MTN Nigeria shares drop to 5-wk low as $2 bln tax case adjourned to Oct
- Tanzania’s agric export earnings fall by more than half – central bank
- ‘Peace ambassadors’ ease water conflict in drought-prone Kenya
N.B. Full stories of above headlines are available on Reuters
