By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Fragile calm returns to stock markets as yuan steadies
• Asian stocks on course to post first gains in nine sessions
• Yuan steadies for now, off record-low hit on Tuesday
• Gold hits 6-yr high, US treasuries row hits global economy

Oil Markets

• Oil prices drop as US-China trade dispute stokes demand worries
• Brent down 0.4% at $58.70 a barrel (0039GMT)
• WTI down 0.4% at $53.43

Precious metals

• Gold inches up on sustained trade war concerns
• Spot gold up 0.2% at $1,476.91/oz. (0114GMT)
• US gold futures up 0.2% at $1,487.60

Grains

• Corn edges higher, weather outlook and trade war cap gains
• Most active CBOT wheat futures up 0.4% at $4.85-3/4 per bushel (0142GMT)
• Most active corn futures up 0.2% at $4.13-1/2 per bushel
• Most active soy futures up 0.1% at $8.66-1/4 per bushel
• Most active rice futures unchanged at $11.34 per hundredweight

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

• SADC industrial week & exhibition in Tanzania; 5-9 Aug
• Kenya’s Kenyatta in Jamaica on state visit
• South Africa FX reserves Jul-19 [prev. $49.1B]
• South Africa SACCI business confidence Jul-19 [prev. 93.3]

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

• Tunisia’s moderate Ennahda VP Mourou to run in presidential elections
• Zimbabwe to legalise growing of industrial hemp
• Libya’s UN-backed govt steps up defence spending as war drags on
• UN raises aid appeal for Zimbabwe to $331.5 mln, many face starvation
• Ebola outbreak in east Congo’s main city tests flexibility of response
• South African rand hits 2-mth low after Moody’s comments on Eskom
• South African regulator punishes Bank of Baroda
• African Oil – Angolan clearing on European, Asian distillate demand
• Egypt’s net foreign reserves rise to $44.917 bln in July – cenbank
• South Africa’s Eskom urgently needs turnaround plan – Moody’s
• Zimbabwe opposition plans demonstrations over economy next week
• Nigeria naira quoted weaker as funds exit bonds
• GSK ends development of ebola vaccine, hands work to US institute
• Guinea delays deadline in Simandou iron ore deposit tender
• Uganda’s Stanbic Bank says pretax up 37% as credit demand grows
• Smart gas cooking seeks to break African cities’ dirty charcoal habit
• Water bankruptcy looms for one in four people worldwide, researchers warn
• Uganda shilling trades flat on thin demand
• Pact is reached in Mozambique but prospects for peace still uncertain
• Nedbank demands action on economy as South African profit stagnates
• Sierra Leone community’s suit against diamond miner shows activist trend
• On cusp of pan-African trade deal, giant Nigeria clings to protection
• South Africa’s Royal Bafokeng Platinum posts wider H1 loss

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