By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asian shares at 1-wk top on conciliatory trade tone, stimulus hopes
• MSCI ex-Japan up 1%, E-minis rise 0.2%
• US, China to have face-to-face trade talk in September
• Analysts remained cautious about prospect of trade deal
• Currencies muted; gold, silver off recent highs

Oil Markets

• Oil dips after 3 days of gains
• Brent down 0.2% at $60.98 a barrel (0050GMT)
• WTI down 0.1% at $56.65 a barrel

Precious metals

• Gold prices inch down on positive signs for trade talks
• Spot gold down 0.2% at $1,525.06/oz. (0112GMT)
• US gold futures down 0.2% at $1,534.50/oz.

Grains

• Corn faces biggest monthly loss in 5 years; wheat, soybeans ease
• Most active CBOT wheat futures down 0.9% at $4.68-1/2 per bushel (0011GMT)
• Most active corn futures down 0.5% at $3.69-1/2 per bushel
• Most active soy futures down 0.1% at $8.67-1/2 per bushel
• Most active rice futures unchanged at $11.86 per hundredweight

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

• South Africa PSCE Jul-19 [fcst. 6.9% yy, prev. 6.9%]
• South Africa M3 Jul-19 [fcst. 9.1% yy, prev. 9.0%]
• Kenya inflation Aug-19 [fcst. 6.2% yy, prev. 6.3%]
• Uganda inflation Aug-19 [fcst. 1.9% yy, prev. 2.6%]
• South Africa state capture inquiry continues

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

• African lender says China not trying to lead region into ‘debt trap’
• Nigerian assets at risk worldwide in $9 bln arbitration case
• Uganda confirms another ebola case
• Egypt’s M2 money supply rises 12.1% y/y in July – cbank
• South Africa – Sibanye-Stillwater in talks over AngloGold Ashanti’s Mponeng mine
• Tunisia PM urges continued focus on economy after election
• Ethiopia to hold autonomy referendum for ethnic Sidama in Nov – Fana
• South Africa’s Aveng to complete asset sales next year
• Africa Oil – Scarce Nigerian offers cloud price expectations
• South Africa’s rand firms on improved risk appetite, stocks up
• South Africa’s Massmart swings to first trading loss in 20 years
• Tereos Commodities to shut sugar operations in Kenya, South Africa
• Nigerian assets at risks worldwide in $9 bln arbitration case
• Despite rosy economic data, Egyptians complain of harder living
• Sierra Leoneans sue govt for alleged environmental failings at diamond mine
• Egypt – Cairo candles workshop struggles to survive
• MTN Nigeria launches money transfer service
• Tullow Oil’s sale of stake in Uganda project to Total, CNOOC dropped
• Ivory Coast signs agreement with Toyota to build assembly plant
• Uganda’s shilling weaker, Kenya’s under pressure
• Tanzania’s National Bank of Commerce hit with fine over data rules breach
• Kenya shilling weakens against the dollar
• Uganda shilling leans on stronger side as charity, commodity flows help
• West Africa’s historic slave sites bear witness to brutal trade
• Losses more than double at South African construction group Aveng
• South Africa’s Woolworths profit falls as Australia charge hurts
• Designer death? South Africa struggles to bury inequality

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