By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asian shares edge up before ECB decision, euro near 2-mth lows
• Nikkei, Australian shares hit multi-month highs
• China shares rise on trade talk hopes
• Euro near 2-mth lows after weak eurozone PMI
• Market focus on ECB rate decision later in the day

Oil Markets

• Oil steadies after global demand worries spark fall
• Brent up 6 cents at $63.24 a barrel (0053GMT)
• WTI up 12 cents at $55.99

Precious metals

• Gold prices ease amid firmer dollar; markets eye ECB meet
• Spot gold down 0.2% at $1,422.31 per ounce (0120GMT)
• US gold futures steady at $1,423.50 an ounce

Grains

• Wheat edges lower, global production concerns limit losses
• Most active CBOT wheat futures down 0.3% at $4.96-1/4 per bushel (0107GMT)
• Most active corn futures down about 0.1% at $4.30-1/2 per bushel
• Most active soy futures nearly unchanged at $9.08-1/2 per bushel
• Most active rice futures up 0.2% at $12.06 per hundredweight

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

• Kenya central bank governor Njoroge post-MPC briefing
• South Africa deputy president Mabuza to answer questions in parliament
• Kenya’s Kenyatta to launch Bidco Industrial Park in Ruiru, Kiambu county
• 23^rd EAC monetary affairs sub-committee meeting in Kigali; 24-28 Jul
• South Africa producer inflation Jun-19 [fcst. 5.9% yy, prev. 6.4%]
• Nigeria’s Buhari cabinet screening by Senate; day 2
• Zimbabwe’s Mnangagwa in Namibia for state visit; 24-26 Jul
• Policy dialogue by Nigeria’s ruling APC party (24-25 Jul); day 2
• South Africa’s Malema in Mpumalanga ahead of EFF 6^th anniversary on 27 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]

• Tunisia president hospitalized after health scare – president’s son
• Nigeria state oil firm has not paid Eni’s cash call payments for 3 months
• MTN shakes up Nigeria board, appoints ex-telecoms regulatory chief as next chair
• Namibia plans to add 220MW to electricity grid by 2023
• Sudan military says it thwarts coup attempt, arrests senior officers
• Algeria’s state power firm to seek foreign loans to fund projects
• Suicide attack kills six at Mogadishu govt HQ – official
• Sudan military says it thwarts coup attempt, arrests senior officers
• IMF to disburse final $2 bln tranche of Egypt loan – cbank
• Africa Oil – Glut of light sweet crude lowers Nigerian prompt prices
• China firms to build gold smelter, refineries in Tanzania
• Zimbabwe cbank eases forex rules for some in bid to improve dollar flows
• South African rand firmer as markets eye ECB, Fed meetings
• Mayor of Mogadishu, other officals hurt in Somalia suicide blast – relative
• Negative yields see record euro borrowing from EMs
• World Bank readies $300 mln to cover half of new ebola response
• Google goes Nigerian with local content, ‘informal’ transit routes
• Kenya central bank holds main lending rate at 9.0 pct
• Kenya appoints Yatani acting finmin after Rotich graft charges
• South Africa’s Sanlam appoints finance director as CEO of Sanlam Emerging Markets
• South Africa’s Kganyago calls central bank ownership debate ‘damaging’
• Uganda shilling unchanged as interbank and importer appetite ebbs
• UK Supreme Court to hear Nigerians’ case for pursuing Shell spill claim in England
• South Africa’s June inflation flat at 4.5%, bolstering case for rate cuts
• Kenya shilling holds steady against dollar

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