By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asian shares turn lower on guarded Fed, yen rises after BoJ
- Fed cuts rates, but Powell’s tone disappoints doves
- BoJ on hold, but other central banks are easing policy
- Oil futures drift higher as geopolitical risks remain
Oil Markets
- Oil prices settle after turbulent week as Saudi Arabia reassures on output
- Return to full production pledged by end-Sep
- US to impose more sanctions on Iran
- Cushing oil stocks at lowest since Oct 2018 – EIA
- Brent up 8 cents at $63.68 a barrel (0139GMT)
- WTI up 12 cents at $58.23 a barrel
Precious metals
- Gold edges lower after Fed delivers mixed signals
- Spot gold down 0.3% at $1,489.73/oz. (0102GMT)
- US gold futures down 1.2% at $1,497.5/oz.
Grains
- Soybeans edge higher, recover from 6-day trough
- Wheat futures down 0.6% at $4.86-3/4 per bushel (0151GMT)
- Corn futures unchanged at $3.71-1/4 per bushel
- Soy futures up 0.1% at $8.89-1/2 per bushel
- Rice futures down 0.1% at $12.30 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- South Africa interest rate decision [fcst. 6.5%, prev. 6.5%]
- Bank of Ghana MPC meeting (17-19 Sep); [fcst. 15.0%, prev. 16.0%]
- Central Bank of Nigeria MPC meeting (19-20 Sep) [fcst. 13.0%, prev. 13.5%]
- 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]
- Algeria army chief moves to limit protest movement
- Tanzania tells WHO it has no ebola cases – statement
- Rwanda Hutu militia commander killed in Congo, army says
- Ethiopia rejects Egypt’s plan for operating giant dam on the Nile
- Africa Oil – Hefty overhang is slow to clear
- Uganda says Russia to help it develop nuclear energy
- Lawyers of Tanzania journalist jailed since July demand police conclude probe
- Morocco’s BCP Bank first half net profit jumps 5.5%
- Zimbabwe doctors say receiving death threats over strike
- Africa already converted into IMF’s gospel, Kenyan central banker says
- Fire in Liberia school kills at least 30 children
- South Africa’s retail sales up 2.0% y/y in July
- Kenya lawmakers reject Treasury bid to repeal rate cap
- Uganda shilling steady, commodity flows to offer support
- Kenya shilling weaker on high liquidity, importer demand
- South African Airways cash injection imminent but says it needs more
- Nigeria’s diesel-dependent economy braces for clean-fuel rules
- Kenya parliament committee says commercial lending rate caps should stay – document
- South Africa consumer inflation quickens to 4.3% y/y in August
- Malawi economy to grow 4.5% in 2019 – IMF
N.B. Full stories of above headlines are available on Reuters
