By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asia stocks gain, dollar sags as Fed reinforces rate cut expectations
• MSCI Asia-Pacific index up 0.3%, Nikkei gains 1%
• Dovish views from Fed’s Williams cement rate cut expectations
• US yields fall, gold hits 6-yr high on US rate cut prospect

Oil Markets

• Oil rises after US Navy destroys Iranian drone
• Brent up 1.3% at $62.75 (0100GMT)
• WTI up 1.1% at $55.91

Precious metals

• Gold hits 6-yr peak on US rate cut prospect, Middle East tensions
• Spot gold down 0.2% at $1,442.71 (0117GMT)
• US gold futures up 1% at $1,441.90/oz.

Grains

• Corn faces biggest weekly drop in 2 yrs on cooler US weather
• Most active CBOT wheat futures up 0.2% at $4.94-1/4 per bushel (0112GMT)
• Most active corn futures down about 0.1% at $4.29-1/2 per bushel
• Most active soy futures down 0.1% at $8.97-3/4 per bushel
• Most active rice futures down 0.7% at $11.81 per hundredweight

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

• Ghana central bank MPC decision [fcst. 15.0%, prev. 16.0%]
• South Africa state capture inquiry resumes; Zuma to continue testimony
• Kenya’s Kenyatta to commission Loiyangalani-Suswa power line
• 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 demands release of abducted lawmaker and Haftar critic in eastern Libya
• WHO flags ebola risk in Rwanda, but then withdraws its report
• Libya’s Mitiga airport resumes air traffic, following an air strike
• Sudan urged to ensure justice for raped women protesters
• Zimbabwe state workers accept pay deal, avert strike
• Ethiopia averts confrontation as party delays plan for new region
• South African soldiers deployed in Cape Town to help fight gangs
• 3 sentenced to death for Morocoo backpacker murders
• Tanzania to buy new Airbus, Bombardier planes for national carrier
• South Africa’s rand, bonds rally after central bank cuts rates
• Sudan protesters take over square where Bashir challenged uprising
• Africa Oil – Angolan clears as Nigeria programmes emerge
• South Africa cuts rates but strikes cautious tone
• IMF programme “positive” for Congo Republic’s lowly credit rating – Moody’s
• Ivory Coast sells 1.6 mln T of cocoa export contracts by July 12 – CCC sources
• South African central bank cuts rates by 25 bps
• 2 killed in suicide bombing, 4 beheaded in Egypt’s N.Sinai, sources say
• Eni officials tried to tamper with witness in Nigeria case
• Uganda shilling little-changed, may weaken on energy demand
• Renault and Nigeria’s Coscharis Group form partnership
• Kenya shilling holds steady against the dollar
• Madagascar vanilla crop quality suffers as thieves spark violence
• Ebola patient suspected of going to Rwanda – report
• World Bank contradicts Tanzania’s growth estimates
• South Africa’s Liberty sees H1 earnings to rise

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