By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asia stocks hit 6-mth lows, bonds boom amid market shakeout
• MSCI ex-Japan skids for a 7^th day in a row
• Flight to safety boosts yen, bonds and gold
• Currency wars feared as China’s yuan breaks past 7 per dlr
• Markets wager on even sharper US monetary easing

Oil Markets

• Oil prices drop as US-China trade war fuels growth concerns
• Brent down 0.8% at $61.39 a barrel (0029GMT)
• WTI down 0.4% at $55.42 a barrel

Precious metals

• Gold gains on weaker dollar, US-China trade tension
• Spot gold up 0.2% at $1,443.56 per ounce (0107GMT)
• US gold futures down 0.1% at $1,455.40

Grains

• Soybeans extend gains despite US-China trade war concerns
• Most active CBOT wheat futures down 1.2% at $4.84-3/4 per bushel (0034GMT)
• Most active corn futures down 0.3% at $4.08-1/4 per bushel
• Most active soy futures down 0.4% at $8.72-1/4 per bushel
• Most active rice futures down 0.3% at $11.67 per hundredweight

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

• 6^th biennial general assembly of ECOWAS network of electoral commissions in Abuja; Buhari to open
• 2019 AGOA forum in Abidjan, Ivory Coast; 3-6 Aug
• South Africa PIC inquiry resumes
• South Africa Standard Bank PMI Jul-19 [prev. 49.7]
• Nigeria Stanbic IBTC Nigeria PMI Jul-19 [prev. 54.8]

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

• Egypt – 17 dead in car explosion in central Cairo – health ministry
• Nigeria security agents arrest activist for calling for revolution
• Sudan factions initial pact ushering in transitional govt
• Zimbabwe increases fuel price again amid shortages
• Sudan’s factions initial a constitutional declaration
• Sudan factions will sign constitutional declaration on Aug 17 – sources
• 2 South Africans killed in Tanzania plane crash – officials
• Libya’s Mitiga airport reopens to air traffic after shelling
• IMF sees Zambia GDP growth declining to 2% this year
• Sudan’s RSF to report to Armed Forces’ General commander – Constitutional Declaration Draft
• Sudan detains 9 soldiers after protesters killed
• Sierra Leone cancels or suspends major mining licenses – FT
• Congo races to contain ebola after gold miner contaminates several in Goma
• South Africa defence firm Denel expects state aid in 3^rd quarter
• Tunisia’s interim president extends state of emergency for 1 mth
• South African stocks dragged to near 2-mth low by trade war woes
• Nigeria oil union suspends industrial action planned over Chevron dispute
• 2^nd ebola case in Congo’s Goma infected several people – govt
• Zambia will delay sales tax until January, finmin says
• MTN Nigeria asks tribunal to rule on tax treatment of $1 bln fine
• Uganda academic jailed for 18 months for criticising Museveni on Facebook
• Africa Oil – Libya outage may ease Nigerian oversupply
• South Africa defence firm Denel expects state aid in Q3
• African nations, Western partners strive to combat IED threat
• South Africa sugar producer Tongaat to delist from LSE
• Rights activists criticise Uganda for academic’s conviction
• South Africa’s Gold Fields flags lower H1 earnings
• Zimbabwe t-bill auction oversubscribed after 7-yr hiatus
• Dried-up pastures push Kenya’s Maasai to mix cattle with crops
• Kenya shilling strengthens against the dollar

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