By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asian stocks hobbled by fading expectations for aggressive Fed rate cut
• Markets now expect 25 bp cut from Fed this month
• Asian shares little changed ahead of Powell’s testimony

Oil Markets

• Oil prices drop as trade tensions stoke economy worries
• Brent down 0.3% at $63.90 a barrel (0022GMT)
• WTI down 0.4% at $57.46 a barrel

Precious metals

• Gold slips as fading expectations of sharp rate cut lift dollar
• Spot gold down 0.3% at $1,391.65 per ounce (0118GMT)
• US gold futures down 0.4% at $1,395.10 an ounce

Grains

• Soybeans edge higher on USDA crop condition report
• Most active CBOT wheat futures down 0.5% at $5.08-1/4 per bushel (0036GMT)
• Most active corn futures down 0.3% at $4.42-1/2 per bushel
• Most active soy futures up 0.2% at $8.99-1/2 per bushel
• Most active rice futures down 0.6% at $11.66 per hundredweight

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

• Airtel Africa listing on Nigerian stock exchange
• AfDB+AFC Africa investment forum Nigeria roadshow in Abuja
• South Africa state capture inquiry continues
• South Africa PIC inquiry continues
• South Sudan 8^th independence anniversary; no official celebrations
• Sudan military & opposition to sign agreement to establish joint military and civilian council

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

• Construction firm wants debt settlement as part of Congo IMF deal
• Africa Oil – Spot trade muted, tender results awaited
• South Africa’s rand steady as Fed cut bets fade
• International court convicts Congo’s Ntaganda of war crimes
• Tunisia trade deficit widens to record $3.4 bln
• Premium prices attract small farmers back to coffee growing in Zimbabwe
• Tunisia tourism revenues jump 42.5% in first half 2019
• South Sudan 2019/20 spending to more than double – finmin
• Zimbabwe poised to raise public workers pay again
• Economic “game changer”? African leaders launch free-trade zone
• Former CEO of Kenyan stockbroker fined for insider trading
• Congolese army fires in the air during protest near Glencore plant
• Zimbabwe power utility says needs $14 mln each month for imports
• Airtel Africa to list in Nigeria on Tuesday – bourse
• South Africa’s Implats to swing back to annual profit
• Uganda shilling unchanged as energy and manufacturing demand flat
• Congo army fires shot in the air amid protest at Glencore plant
• Kenya shilling weakens against the dollar
• Zimbabwe could hike rates over 50% to deal with speculators – finmin
• As drought stokes urban hunger, Ethiopia dishes up free school meals

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