By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asia stocks welcome trade talks, euro on defensive
• Cautious welcome to news of new Sino-US trade meetings
• Nasdaq futures dip as DoJ investigates digital giants
• Dollar firm, euro pressured ahead of ECB policy meeting
• Oil gains on inventory draw, Middle East tensions

Oil Markets

• Oil prices gain on US inventory drop, Middle East tensions
• Brent up 0.3% at $64.03 a barrel (0300GMT)
• WTI up 0.4% at $57.00 a barrel

Precious metals

• Gold gains on rate cut hopes, Middle East tensions
• Spot gold up 0.2% at $1,420.40 per ounce (0128GMT)
• US gold futures steady at $1,420.80 an ounce

Grains

• Corn edges lower as weather forecasts ease fears of crop losses
• Most active CBOT wheat futures up 0.3% at $4.88-1/2 per bushel (0016GMT)
• Most active corn futures down 0.1% at $4.31 per bushel
• Most active soy futures down 0.1% at $9.02-3/4 per bushel
• Most active rice futures unchanged at $11.97 per hundredweight

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

• Kenya central bank interest rate decision [fcst. 8.0%, prev. 9.0%]
• South Africa consumer inflation Jun-19 [fcst. 4.4% yy, prev. 4.5%]
• “25 years of democracy” conference at University of Johannesburg; 23-24 Jul
• Nigeria’s Buhari cabinet to be screened by Senate
• Public hearing by US International Trade Commission on US trade & investment with SSA report
• 9^th session of Namibia-Zimbabwe joint commission in Windhoek; 22-24 Jul
• Zimbabwe’s Mnangagwa in Namibia for state visit; 24-26 Jul
• Kenya’s Kenyatta expected to appoint new finance minister
• Policy dialogue by Nigeria’s ruling APC party (24-25 Jul); Buhari to preside
• South Africa’s Kganyago to give public lecture at UNISA
• South Africa’s Malema in Mpumalanga ahead of EFF 6^th anniversary on 27 Jul
• Botswana’s Masisi in Kenya for 3-day state visit
• 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]

• Shi’ite protesters clash with Nigeria military, police in Abuja
• EgyptAir exec says no ‘logical reason’ for British Airways cancellations to Cairo
• EgyptAir executive says Cairo airport is safe
• Nigeria eyes partnership with Indonesia on crude exports
• Gambian army officer admits killing journalist, migrants
• Anglophone prisoners riot in Cameroon amid seperatist crisis
• Ethio Telecom revenues rise 7% to $1.26 bln in 2018/9
• South Sudan rebel group says it killed 8 soldiers
• Ethiopia federal forces take over security in protest-hit region – Fana
• Libya seizes Italian fishing vessel – Italy’s foreign ministry
• Nigeria’s central bank to start monthly review of banks’ loan ratios
• Africa Oil – Asian demand set to pick up on margins
• Kenya finmn denies corruption charges, given bail
• South Africa court blocks Zambian plan to sell Vedanta copper mine
• Nigeria’s Buhari submits list of cabinet nominees to Senate
• Lawmakers back plan to nationalise Kenya Airways
• Nigeria military, police clash with Shi’ite protesters in Abuja – witnesses
• South Sudan journalists’ union says 2 members detained
• Nigeria’s central bank holds benchmarking lending rate at 13.5%
• De La Rue says SFO probes ‘suspected corruption’ in business conduct in South Sudan
• Zambia presses on with liquidating Vedanta unit assets despite ruling
• Qatar Petroleum signs deal on 3 Kenya offshore blocks
• Tanzania president reinstates former state oil company chief
• South Africa expects lower tax revenues, higher borrowing this year – finmin
• Kenya shilling weakens after finmin charged with corruption
• Kenya to seek extradition of Italian construction boss on corruption charges
• Libya’s Mitiga airport re-opens after air strike – statement
• South Africa’s rand steady as investors eye likely US, eurozone rate cuts
• South Africa’s Kumba Iron Ore H1 earnings more than treble
• Morocco lawmakers vote to bolster French in education system

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