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
