By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asia shares subdued, dollar benefits as sterling suffers
- Nikkei off 0.4% in thin trade, China markets flat
- US retail sales strong, but market still set on Fed cut
- Dollar gains as sterling stricken by hard-Brexit fears
- Oil prices nurse losses on supply data, mixed messages on Iran
Oil Markets
- Oil prices steady after falling to more than 1-wk lows
- Brent up 16 cents at $64.51 per barrel (0027GMT)
- WTI up 1 cent at $57.63
Precious metals
- Gold inches down as strong US retail sales lift dollar
- Spot gold down 0.1% at $1,405.26 per ounce (0104GMT)
- US gold futures down 0.3% at $1,406.90/oz.
Grains
- Corn extends losses into third session
- Most active CBOT wheat futures down 0.4% at $5.05-1/4 per bushel (0054GMT)
- Most active corn futures down 0.2% at $4.40-1/4 per bushel
- Most active soy futures down 0.1% at $9.05-1/4 per bushel
- Most active rice futures up 0.3% at $11.82 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- South Africa central bank 3-day MPC meeting; day 2, decision on 18 Jul [fcst. 6.5%, prev. 6.75%]
- Ghana central bank 3-day MPC meeting starts; decision on 22 Jul [fcst. 15.0%, prev. 16.0%]
- Ghana mid-year budget review & supplementary budget by finmin
- South Africa’s Ramaphosa presidency budget vote at parliament
- South Africa state capture inquiry continues; Zuma to continue testimony
- South Africa PIC inquiry continues
- 2nd Lake Chad Basin Governors Forum 2019 in Niamey, Niger; 16-18 Jul
- South Africa retail sales May-19 [fcst. 1.8% yy, prev. 2.4%]
- Kenya trade week 2019 in Nairobi; 15-21 Jul
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- UN envoy meets UAE minister to discuss fighting in Libya – tweet
- Zimbabwe public worker strike on the cards after pay offer rejected
- South African musician Johnny Clegg dead at 66 after cancer battle
- Africa Oil – September Angolan programme holds exports steady
- Zambia finance minister urges quick implementation of austerity
- EBRD looks to boost equity investments in Egypt
- France, UK, Egypt, UAE, US, Italy call for immediate end of Libya violence
- Sudan’s opposition rejects judicial immunity for military rulers
- South Africa’s rand inches weaker in wait-and-see session
- Nigeria’s state oil firm awards oil-for-fuel swap deals – sources
- Father whose family died in Ethiopia plane crash to brief Congress
- ‘I know nothing’: South Africa’s Zuma ducks and dives at corruption inquiry
- Credit Suisse hires Goldman banker for Middle East, Turkey, Africa job
- Sierra Leone school defies state ban on pregnant girls in class
- First ebola patient Congo’s main city dies
- Tunisia’s foreign currency reserves rise after it sold bond
- Uganda shilling firms on ebbing importer appetite
- South Africa’s Zuma back at inquiry, says his life is in danger
- Kenya shilling weakens amid excess liquidity
- South Africa’s Amplats expects half-year earnings to double
N.B. Full stories of above headlines are available on Reuters
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