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