#Africa #Markets | 10 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares cautious in case Powell closes rate door
  • Asian shares mixed in quiet trade
  • Bull hope Fed Chairman Powell will sound dovish enough
  • Dollar supported as Treasury yields edge up from lows
  • Oil prices up as US stockpiles fall

Oil Markets

  • Oil rises more than 1% after US stockpile drop; Brent nears $65
  • Brent up 1.1% at $64.85 per barrel (0027GMT)
  • WTI up 1.5% at $58.73

Precious metals

  • Gold dips as dollar ticks higher, all eyes on Fed
  • Spot gold down 0.4% at $1,391.98 per ounce (0103GMT)
  • US gold futures down 0.4% at $1,394.40 an ounce


  • Corn falls 1% to 1-wk low on easing yield worries
  • Most active CBOT wheat futures down 0.7% at $4.99-1/2 per bushel (0212GMT)
  • Most active corn futures down 1% at $4.33 per bushel
  • Most active soy futures down 0.3% at $9.01-1/2 per bushel
  • Most active rice futures down 0.4% at $11.84 per hundredweight

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

  • South Africa state capture inquiry continues
  • South Africa PIC inquiry continues

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

  • Morocco revises 2019 growth forecast down to 2.7%
  • Libya – At least 100 migrants walk free from shelled detention cente in Tripoli
  • South Sudan court rules against of marriage of girl, 16, in landmark case
  • Zimbabwe public workers reject $21 mln pay rise
  • Moroccan jailed by Portugal for recruiting for Syrian war
  • Nigeria parliament on lockdown after clash with Shi’ite group
  • Nigerian Shi’ite group say police shot at them outside parliament
  • Africa Oil – Diffs supported by firmer gasoline margins
  • South Africa’s rand steady as traders eye Fed, stocks down
  • South African platinum firms kick off wage talks
  • Some internet service restored in Sudan after court ruling
  • Zimbabwe lawmaker charged with subversion over Mnangagwa threat
  • Airtel Africa lists in Nigeria
  • Determined to reach Europe, migrants defy Morocco’s crackdown
  • South African central bank stresses importance of independence
  • Kenya shilling firms, helped by investors buying bonds

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.