#Africa #Markets | 19 Jul

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.


  • 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

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