By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asia stocks take comfort in China trade data, yuan fix
- Yuan fixed beyond 7 per dlr, but not as weak as feared
- Chinese export & imports beat forecasts in July
- Recession talk fuels rush to bonds, curve inverts further
- Gold breaks $1,500 for first time in over 6 yrs
- Oil rallies on rumours of Saudi action on supply
Oil Markets
- Weaker dollar, possible producer action buoy oil prices after 4% slump
- Brent up 2.3% at $57.52 a barrel (0032GMT)
- WTI up 2.5% at $52.39
Precious metals
- Gold rises on darkening economic outlook, rate cuts
- Spot gold up 0.3% at $1,505/oz. (0104GMT)
- US gold futures down 0.3% at $1,515.30/oz.
Grains
- Soybean prices edge down as US-China trade war overshadows market
- Most active CBOT wheat futures down 0.1% at $4.87-3/4 per bushel (0047GMT)
- Most active corn futures up 0.1% at $4.14-1/4 per bushel
- Most active soy futures down 0.1% at $8.65-1/2 per bushel
- Most active rice futures up 0.2% at $11.40 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 Barbados
- South Africa manufacturing production Jun-19 [fcst. 1.9% yy, prev. 1.0%]
- South Africa mining production Jun-19 [fcst. -2.9% yy, prev. -1.5%]
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- 3 Congolese doctors arrested in connection with WHO official’s death
- Kenya lawmakers say govt should reject KCB’s acquisition of NBK
- South Africa’s rand drops to 11-mth low as growth outlook darkens
- South Africa’s Pepkor Q3 revenue up 12%, warns of volatile outlook
- US not ready to remove Sudan from sponsors of terrorism list
- Nigeria central bank springs unscheduled t-bill auction as naira weakens
- South Africa’s central bank governor says will go to war to protect independence
- Nigeria central bank sells t-bills at lower yields as demand swells
- West African slavery lives on, 400 years after transatlantic trade began
- South Africa’s central bank governor says will go to war to protect independence
- Africa Oil – Angolan differentials ease as sellers seek to offload
- Zambia court blocks Vedanta’s bid to halt sale of Konkola mine
- Saudi Arabia, UAE providing Sudan with 540k tonnes of wheat – SPA
- Tunisia defence minister Zbidi submits bid to run for president
- Cobalt, Africa setbacks shrink Glencore’s first-half profit
- Kenya shilling weakens against the dollar
- South African business confidence falls amid weak growth
- Uganda shilling firms on inflows from offshore investors
- Botswana’s private coal mine produces first saleable coal
- Egypt aims to attract 12 mln tourists in FY 19/20 – document
- Kenya seeks 150 bln shilling syndicated loan – Business Daily
- AfDB approves $98 mln financing for Ethiopia-Djibouti road project
- South African rand flat, hovers near 2-mth low
- South Africa’s net foreign reserves fall to $43.906 bln in July
N.B. Full stories of above headlines are available on Reuters
