#Africa #Markets | 22 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares sit still, await clarity on Fed policy
  • Asia subdued, strong retail earnings lift Wall st
  • Fed minutes show division on rate cuts
  • Trump says no longer looking at tax cuts
  • PMI surveys, ECB minutes due Thursday

Oil Markets

  • Oil prices rise after US crude stocks draw
  • Brent up 0.5% at $60.57 a barrel (0051GMT)
  • WTI up 0.6% at $56.03

Precious metals

  • Gold prices stable; all eyes on Fed summit for rate-cut direction
  • Spot gold flat at $1,501.73/oz. (0143GMT)
  • US gold futures down 0.3% at $1,511.50


  • Corn rebounds from 3-mth low on strong demand
  • Most active CBOT wheat futures up 0.2% at $4.69 per bushel (0048GMT)
  • Most active corn futures up 0.3% at $3.71-1/2 per bushel
  • Most active soy futures nearly unchanged at $8.73-1/4 per bushel
  • Most active rice futures unchanged at $11.22 per hundredweight

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

  • Kenya marks 41st anniversary of founding father Jomo Kenyatta’s death
  • Rwanda monetary policy & financial stability statement
  • South Africa’s Ramaphosa to answer questions in parliament
  • WHO Africa regional conference in Brazzaville, Congo; 19-23 Aug
  • Nigeria Q2-2019 GDP [fcst. 2.5% yy, prev. 1.9%]

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

  • Sudan’s Hamdok takes office as new prime minister, vows to tackle conflicts
  • Mali’s new mining code ends tax exemptions, other protections
  • Nigeria’s 3-yr milestone takes Africa towards polio eradication
  • Turbulence on Spanish flight from Mauritius injures 14
  • Africa Oil – Nigerian October programmes trickle out
  • South Africa’s Omnia CEO resigns, finance director appointed as replacement
  • South Africa rand rallies after data shows slowing inflation, stocks up
  • Leaders of Rwanda & Uganda sign pact in bid to end tension
  • Zimbabwe charges former Mugabe deputy with abuse of office
  • Nigeria’s Buhari assigns cabinet portfolios, appoints new oil minister
  • Nigeria’s 3-yr milestone takes Africa towards polio eradication
  • Nigeria’s Buhari assigns cabinet portfolios, appoints Timipre Silva oil minister
  • South Africa court rules display of apartheid flag constitutes hate speech
  • South Africa court sets aside arms deal inquiry findings
  • Uganda shilling a touch stronger on commodity flows
  • Zimbabwe July inflation at 21.04% m/m – statistics office
  • Egypt’s Zohr gas field output rises to 2.7 bln cubic feet per day – minister
  • South Africa’s July consumer inflation falls to lowest since Jan., raising bets of rate cuts
  • Head of Sudan’s now-defunct military council sworn in as head of sovereign council
  • Kenya shilling strengthens against the dollar
  • South Africa consumer inflation slows to 4% in July, lowest in 7 months
  • Moderate Islamists make new power quest in Tunisia
  • NZ lawmakers urged to drop restrictions on Africa, Middle East refugees

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

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