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
