By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asia stocks gain, dollar drops as Fed chair sets stage for rate cut
- MSCI Asia-Pacific index up 0.75%, Nikkei adds 0.35%
- Fed chair remarks revive some bets on aggressive rate cut
- Dollar & US treasury yields sag after Powell comments
- Crude prices hit 7-wk highs
Oil Markets
- US oil hits highest in over a mth amid Gulf of Mexico storm, Iran tensions
- Brent down 5 cents at $66.96 a barrel (0055GMT)
- WTI up 11 cents at $60.54
Grains
- Soybeans fall from 10-day high ahead of USDA report
- Most active CBOT soybean futures down 0.1% at $9.12 a bushel (0122GMT)
- Most active corn futures down 0.3% at $4.38 a bushel
- Most active wheat futures down 0.2% at $5.03-1/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- IMF board to consider Congo Republic bailout
- South Africa treasury budget vote speech by finmin Mboweni
- Africa counter-terrorism conference in Nairobi, Kenya; day 2
- South Africa state capture inquiry continues
- Nigeria’s Buhari cabinet appointment awaited
- South Africa mining production May-19 [fcst. -4.5% yy, prev. -1.5%]
- South Africa manufacturing production May-19 [fcst. 2.1% yy, prev. 4.6%]
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- Algeria parliament elects opposition figure as chairman after protesters
- Morocco approves law on sharia-compliant insurance
- Ivory Coast, Ghana add ‘living income’ cocoa premium to fight poverty
- South African minister Gordhan challenges public protector report
- Africa Oil – Angolan cargo deferred, Pertamina tender awarded
- ANC infighting has hurt South African state asset manager – former CEO
- Egypt opens new international airport for trial period
- Algeria’s ex-industry minister detained over alleged graft – state TV
- Significant risks for South Africa’s economic outlook – Treasury
- South Africa’s rand firms on Powell’s remarks, Kganyago reappointment
- Zimbabwe opposition lawmaker to appear in court away from capital
- South Africa’s Kganyago reappointed as central bank governor for another 5 years
- Morocco’s Platinum Power partners with China’s CFHEC on $300 mln
- Greater response needed to worsening West African violence – UN head
- Somalia executes 3 al Shabaab members over 2017 hotel attack
- In hotbed of Sudan’s uprising, activists torn over transition deal
- Tanzania says elephant, rhino populations rebounding after anti-poaching crackdown
- Nigeria’s president may name cabinet nominees this week – senate leader
- Egypt headline inflatioin falls to surprising 9.4% in June
- Morocco prepares to launch tender for 230MW plant in Atlas mountains
- President urges Tanzania’s women to “set ovaries free”, have more babies to boost economy
- Ivory Coast cocoa grind up 7.3% through June – exporters
- Uganda shilling firms, helped by commercial banks selling dollars
- Libya – Bombed Tripoli migrant detention centre being emptied – UN
- France says anti-tank missiles found in Libya were “unusable”
- Kenya shilling steady against dollar, remittances help
- ArcelorMittal South Africa to cut more than 2,000 jobs, shares drop
- Tunisia starts marketing 7-yr euro-denominated bond
- Egypt digital payments company Fawry preparing for IPO
N.B. Full stories of above headlines are available on Reuters
