#Africa #Markets | 17 Jul

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.


  • 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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