By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asian shares on defensive, pound at 28-mth low on hard Brexit fears
• Trump pours cold water on Sino-US trade talk hopes
• Fed expected to cut rates by 25 bps, more seen
• Pound pummelled by rising fear of no-deal Brexit

Oil Markets

• Oil prices rise for fifth day after US stocks decline
• Brent up 0.5% at $65.05 a barrel (0044GMT)
• WTI up 0.5% at $58.33

Precious metals

• Gold holds steady as investors await Fed decision
• Spot gold little changed at $1,428.54 per ounce (0114GMT)
• US gold futures steady at $1,441.50 an ounce

Grains

• Chicago corn futures tick up, US crop condition caps gains
• Most active CBOT wheat futures up 0.3% at $4.98-1/2 per bushel (0116GMT)
• Most active corn futures up 0.1% at $4.21-1/2 per bushel
• Most active soy futures unchanged at $8.96-3/4 per bushel
• Most active rice futures nearly unchanged at $12.09 per hundredweight

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

• Ivory Coast’s Ouattara in Burkina Faso for joint summit
• Namibia’s Geingob to open “Growth Namibia” summit in Windhoek
• US speaker Pelosi to address Ghana’s parliament
• Liberia “Save The State” protest to resume
• Nigeria manufacturing PMI Jul-19 [prev. 57.4]
• South Africa trade balance Jun-19 [prev. ZAR1.7B]
• Nigeria FX reserves Jul-19 [prev. $45.1B]
• Kenya inflation Jul-19 [fcst. 7.0% yy, prev. 5.7%]
• Uganda inflation Jul-19 [fcst. 3.4% yy, prev. 3.4%]

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

• Ivory Coast, Ghana pricing agreement causing a ‘spike in cocoa cost’ – Mondelez
• Second ebola case detected in eastern Congo’s main city
• South African court gives Old Mutual CEO his job back, for now
• Athletics – South Africa’s Semenya out of World Championships after Swiss court reverses reprieve
• South Africa’s Eskom facing “death spiral” – departing CEO
• Senegal to crack down on huge plastic waste by enforcing law
• South Africa’s Old Mutual to appeal court ruling to reinstate CEO
• South African unemployment hits 11-yr high
• South Africa bourse CEO to retire after 8 years at the helm
• Zimbabwe says importing 300MW from regional power pool
• Morocco’s BMCE Bank looks to build on China ties to deliver $11 bln tech city
• South Africa’s rand steadies, stocks down
• Africa Oil – Angolan differentials spike on Asian margins
• Nigeria police to seek to arrest members of banned Shi’ite group
• Saudi Arabia deposits $250 mln into central bank of Sudan
• South Africa’s ANC says central bank nationalisation won’t affect mandate
• Mauritania blogger who faced death penalty freed
• Tanzania police arrest prominent investigative journalist
• South African court rules Old Mutual CEO dismissal unlawful
• South Africa’s Eskom expects loss of around 20 bln rand in 2019/20
• KenGen’s latest geothermal plant adds 79MW to grid
• South Africa’s Eskom annual loss widens to $1.5 bln
• Burundi’s mineral exports overtake tea, coffee in hard currency earnings
• South Africa’s ANC still wants central bank to be nationalised – party official
• Canal Sugar to build grains terminal in Egypt’s Damietta
• South Africa resumes beef exports to China after foot and mouth outbreak
• Uganda shilling seen weaker on interbank demand
• South African unemployment rate rises to 29%
• Kenya shilling weakens to near 5-yr low – traders, Refinitiv data
• South African corruption fighter seen amplifying ANC battles
• Tanzania police arrest prominent investigative journalist

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