By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Hopes of ECB, Fed rate cuts boost stocks, British pound sags
• MSCI Asia-Pacific index gains 0.15%, Nikkei adds 0.95%
• Prospect of Fed, ECB easing support global equities
• Pound sags with eurosceptic Johnson seen becoming new UK PM

Oil Markets

• Oil prices ease as traders weigh Middle East tensions, demand
• Brent down 2 cents at $63.24 a barrel (0121GMT)
• WTI down 6 cents at $56.16 a barrel

Precious metals

• Gold dips as dollar hits near 1-wk high
• Spot gold down 0.5% at $1,417.11 per ounce (0120GMT)
• US gold futures down 0.5% at $1,419.30 an ounce

Grains

• Corn edges up from 19-day low on USDA crop report
• Most active CBOT wheat futures up 0.4% at $4.89-1/4 per bushel (0039GMT)
• Most active corn futures up 0.6% at $4.29-1/4 per bushel
• Most active soy futures up 0.3% at $9.08-3/4 per bushel
• Most active rice futures unchanged at $11.92 per hundredweight

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

• Nigeria central bank interest rate decision [fcst. 13.0%, prev. 13.5%]
• South Africa’s Ramaphosa to open “25 years of democracy” conference at University of Johannesburg; 23-24 Jul
• Kenya cabinet reshuffle, finimin et al. arraignment expected
• 9^th session of Namibia-Zimbabwe joint commission in Windhoek; 22-34 Jul
• Botswana’s Masisi in Kenya for 3-day state visit; arrived yesterday
• West Africa ports & rail evolution forum in Lagos; 22-23 Jul
• South Africa state capture inquiry continues
• South Africa PIC inquiry continues

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

• Morocco lawmakers vote to bolster French in education system
• ‘This is our land’: Uncertain futures for Ugandans facing eviction from wildlife reserve
• Nigeria police, Shi’ite group clash in capital, at least 3 dead
• Libya’s Mitiga airport halts air traffic after air strike – statement
• Nigeria police say senior officer killed as Shi’ite protest turns violent
• Congo minister’s resignation over ebola snub could unblock new vaccine
• Guinea seeks developers for Simandou iron ore deposit
• Africa Oil – Activity slow despite OSP price drop
• South African rand firmer as carry trade trumps political wrangling
• Eastern Libya forces warplane makes emergency landing in Tunisia, pilot held – LNA
• Zimbabwe vice president in China to receive treatment for unknown illness
• Kenya finance minister arrested on graft charges
• South African court ruling could undermine public protector
• Congo health minister resigns in protest over govt handling of ebola response
• Nigeria agrees plan with Siemens to nearly triple power supply by 2023
• At least 17 killed in bomb attack in Somalia capital
• South Africa allcoates extra $4.2 bln for cash-trapped Eskom
• South Africa’s top court says public protector acted in bad faith
• Libya warplane lands on road in southern Tunisia
• Uganda shilling little-changed amid limited importer demand
• Kenya shilling weakens against the dollar
• UK to send 250 troops to Mali for peacekeeping operations
• Libya’s Sharara oilfield resumes output after brief outage
• Zimbabwe’s Econet weighs drastic measures over ‘untenable’ power cuts
• Kenya police arrest finmin on corruption charges, official says
• Kenya dollar bonds slip after finmin to be arrested and charged over graft
• Morocco’s CPI slows to 0.2% in June – Planning agency
• Zimbabwe increases fuel prices again, but pumps remain dry
• Kenya’s TransCentury, EA Cables say complete debt restructuring
• Kenya’s Consolidated Bank extends its bond maturity by 3 months

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