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