By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asian stocks mostly weaker on steep Chinese factory price declines
- Markets on edge before ECB meeting
- German bund sell-off hits bonds in Asia
- Investors await more stimulus for global economy
Oil Markets
- Oil rises on hopes of extended OPEC production cuts
- Brent up 0.7% at $63.01 a barrel (0104GMT)
- WTI up 0.8% at $58.31 a barrel
Precious metals
- Gold hits 4-wk low as stimulus hopes, trade optimism boost risk-on mode
- Spot gold down 0.5% at $1,490.68/oz. (0152GMT)
- US gold futures down 0.9% at $1,497.4/oz.
Grains
- Corn rebounds from 4-mth low on USDA crop condition report
- Wheat futures up 0.2% at $4.75-1/4 per bushel (0040GMT)
- Corn futures up 0.6% at $3.56-1/2 per bushel
- Soy futures up 0.1% at $8.58-3/4 per bushel
- Rice futures down 0.3% at $11.92 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- South Africa manufacturing production Jul-19 [fcst. -3.0% yy, prev. -3.2%]
- Kenya parliament resumes; 2019 finance bill top on agenda
- Public hearing on Nigeria medium-term budget
- Ivory Coast’s Ouattara in Saudi Arabia
- 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]
- Mozambique gets green light for eurobond debt swap plan
- Plans for Israel gas exports to Egypt on track – Egyptian minister
- Morocco activists denounce arrest of journalist on abortion charges
- Mozambique says creditors holding 99.5% of eurobond support debt swap plan
- South Africa’s rand firms as Fed cut bets spur buying, stocks steady
- Egypt plans up to $7 bln in international bonds in 2019-20
- Malawi’s economy to grow 5% in 2019, 7% in 2020 – finmin
- Africa Oil – Nigerian oil suffers along with European margins
- China’s Xi to visit Brazil in November for BRICS summit
- Somalia economic growth likely to inch up this year, World Bank says
- Kenya’s Equity Bank in talks to buy controlling DRC bank stake
- South Africa’s state defence firm Denel names new finance chief
- Plane leaves Zimbabwe for Singapore to bring home Mugabe’s body
- Zambia farm input supplier plans to invest $150 mln in farming
- Uganda shilling holds steady as demand for dollars wanes
- South Sudan’s Machar to meet president, discuss stalled peace deal
- Businesses in Central African union rue tough forex crackdown
N.B. Full stories of above headlines are available on Reuters
