By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Stocks relieved at trade truce, bonds step back
- Nikkei, Shanghai at 2-mth tops as new tariffs avoided
- Treasury bonds off as market scales back bet on Fed easing
- PMI factory surveys disappoint, from China to Japan
- Oil prices jump as OPEC looks set to extend supply cuts
Oil Markets
- Oil jumps on Saudi, Russia support for supply cuts
- Brent up 1.7% at $65.86 a barrel (0052GMT)
- WTI up 1.9% at $59.57
Precious metals
- Gold slips to 1-wk low as US-China trade optimism lifts risk sentiment
- Spot gold down 1.1% at $1,393.16 per ounce (0109GMT)
- US gold futures down 1.1% at $1,398.50 an ounce
Grains
- Soybeans at 1-yr top, corn firms after deep losses
- Most active CBOT wheat futures down 0.4% at $5.25 per bushel (0121GMT)
- Most active corn futures up 0.1% at $4.25 per bushel
- Most active soy futures up 0.7% at $9.29 per bushel
- Most active rice futures up 0.6% at $11.64 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- Nigeria presidential election petition tribunal resumes
- South Africa state capture inquiry resumes
- South Africa SACCI business confidence Jun-19 [prev. 93.0]
- South Africa total new vehicle sales Jun-19 [prev. 40.5K]
- Nigeria foreign exchange reserves Jun-19 [prev. $45.1B]
Key African events or data releases over the weekend & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- Tens of thousands demand civilian rule in Sudan, at least 7 killed
- Libya’s eastern forces supreme commander declares state of mobilization – statement
- Libya – Haftar’s forces say they destroyed Turkish drone in Tripoli
- Senegal seizes 798 kg of cocaine hidden in cars on a ship
- Eastern Libya authorities arrest 2 Turks over Turkey’s support for “militias”
- Air traffic stops at Libya’s Tripoli Mitiga airport after air strike
- Egypt’s President Sisi approves 2019-20 budget – official gazette
- West African states adopt flexible FX regime for regional trade
- Cameroon opposition leader released after abduction in Anglophone region
- Sudan security forces raid opposition group office ahead of protest
- Libya fighters seize US and Chinese missiles from Haftar’s forces
- After deadly collapse, Congo vows to remove illegal miners from Glencore concession
- Sudan military issues warning to opposition over planned protest rally
- Ethiopia airs voice of alleged coup leader killed in crackdown
- Sudan’s military council studies African Union, Ethiopia’s proposal
- Eastern Libyan forces will ban any flights from Libya to Turkey – spokesman
- Zambia court lifts order blocking disposal of Vedanta unit assets
- Africa Oil – Nigerian steady on Indian demand, European margins
- Shell, Exxon eye return to Somalia ahead of oil block round
- Ethiopia’s intelligence boss to lead military – PM’s office
- Vedanta says order on Zambia liquidator lifted pending July 4 hearing
- South Africa’s PPC bows to environmental regulations
- Zimbabwe moves to keep a lid on maize prices after drought
- Kenya’s Q1 economic growth slows, hurt by agriculture
- Kenya’s economy expands by 5.6% in the first quarter
- Amid Ethiopia unrest, Amhara political party spokesman arrested
- South Sudan suspends all pre-sales oil contracts
- US Supreme Court to hear bid to revive punitive damages against Sudan over embassy bombings
- Tunisia rallies after a “black day”, president’s health improves
- South Africa posts $123 mln trade surplus in May
- Google announces new subsea cable “Equiano”, connecting Africa and Europe
- Zambia delays implementation of new sales tax to Sept 1
- Airtel Africa drops 15% in early trade after London debut
- South Africa’s entire coal line shut for maintenance – Transnet
- South Africa’s CONCO wins eSwatini solar power project
- Kenya’s inflation at 5.7% y/y in June
- Ivory Coast and Ghana team up for greater share of chocolate wealth
- South Africa credit demand growth slows to 7.66% in May
N.B. Full stories of above headlines are available on Reuters
