By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asian shares drift into trade talks, Fed test
- Major indices mostly lower in Asia
- Market fully priced for 25 bps Fed cut, eyes on guidance
- No breakthrough seen at Sino-US trade talks in Shanghai
- Dollar on top as US economy outperforms peers
Oil Markets
- Oil falls after “constructive” talks on Iran’s nuclear deal
- Brent down 0.4% at $63.23 a barrel (0054GMT)
- WTI down 0.2% at $56.08
Precious metals
- Gold rises as markets brace for Fed meeting
- Spot gold up 0.4% at $1,423.49 per ounce (0121GMT)
- US gold futures up 0.3% at $1,423.20
Grains
- Corn recovers from near 4-wk low on US weather
- Most active CBOT wheat futures up 0.5% at $4.98-1/2 per bushel (0104GMT)
- Most active corn futures up 0.2% at $4.25-1/4 per bushel
- Most active soy futures up 0.3% at $9.04 per bushel
- Most active rice futures down 0.3% at $12.16 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- Screening of Nigeria’s Buhari cabinet nominees to be concluded by Senate
- South Africa M3 Jun-19 [act. 9.0%% yy, fcst. 9.2%, prev. 9.1%]
- South Africa PSCE Jun-19 [act. 6.9% yy, fcst. 7.5%, prev. 7.7%]
- Nigeria presidential election petitions tribunal resumes
- Ghana mid-year budget review & supplementary budget by finmin
Key African events or data releases over the weekend & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- Nigeria bans local Shi’ite group after protests
- Gunmen kidnap 2 workers at Banro Corp east Congo mine – army
- Nigeria’s Buhari condemns Borno state attack, orders manhunt – statement
- US air strike kills suspected IS coordinator in Somalia
- At least 65 killed in Nigeria terrorist attack – state tv
- Nigeria’s central bank extends cheap credit to milk producers after FX ban
- 5 killed in air strike on govt-backed Libya hospital
- Nigeria plots course to membership of Africa’s planned free trade zone
- Former South Africa opposition leader Zille joins free market think tank
- South Africa land reform panel recommends seizures without pay in certain circumstances
- Sudan extends ceasefire with southern rebels
- Tanzania’s economic growth slows in first quarter as construction softens
- Uganda entrepreneurs cook up eco-friendly dryer to cut food waste
- Tanzania Q1 GDP growth slows to 6.6% y/y vs 7.5% during same period last year
- Sudan says 87 killed when troops broke up protest, critics say too low
- Nigerian court grants permission to declare Shi’ite group terrorists
- Africa must boost industrial capacity to benefit with free trade zone – AfDB
- Tunisia bids farewell to president Essebsi at state funeral
- 55 bodies recovered from Libya shipwreck – aid worker
- Sudan says 87 killed, 168 wounded when June 3 protest broken up
- Zimbabwe tourism minister charged with corruption worth $95 mln
- Egypt minister threat to “chop” critics taken out of context
- Tanzania to shut part of wildlife preserve to big game hunters
- Congo president and predecessor agree on division of cabinet posts
- WHO says it could use more US help on the ground in ebola fight
- South Africa’s rand, bonds tumble as Moody’s and Fitch warn of Eskom risk
- Africa Oil – Angolan programme to be finalised and Saturno outage
- Fitch downgrades outlook on South Africa’s credit rating
- South Africa treasury says it is aware of Eskom risk after Fitch cuts outlook
- Fitch affirms South Africa credit rating but downgrades outlook
- I only exchange pleasantries with Guptas, South Africa’s Ramaphosa tells inquiry
- Egypt digital payment firm Fawry sets IPO price at 6.46 Egyptian pounds
- South Africa – Johannesburg court approves $353 mln silicosis settlement
- Kenya policeman arrested for jumping on corruption scandal
- Landslide kills 15 in Morocco’s Atlas Mountains, authorities say
- Malawi economy to grow to 5% in 2019 vs 4% in 2018 – central bank
- Africell to spend $100 mln on mobile infrastructure, fintech in Africa
- Crime fighting duo seeks Kenya’s first top-level graft conviction
- Kenya shilling strengthens against the dollar
N.B. Full stories of above headlines are available on Reuters
