By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asian shares pause after 5-day rally, Brexit in focus
- US retail sales fall for first time in 7 months
- Upbeat US earnings cushion blow from data
- Sterling volatile as Brexit talks continue
Oil Markets
- Oil prices fall as data points to huge build in US stocks
- US crude stocks rose 10.5 mln bbls in week in Oct. 11 – API
- Analysts had estimated increase would be 2.8 mln bbls
- Brent down 0.7% at $59.02 a barrel (0110GMT)
- WTI down 0.9% at $52.90
Precious metals
- Gold steady as disappointing US retail sales weigh on risk appetite
- Spot gold up 0.1% at $1,490.37/oz. (0044GMT)
- US gold futures up 0.1% at $1,495.60/oz.
Grains
- Soybeans firm after 2 days of falls, eyes on US-China
- Wheat futures up 0.4% at $5.15-1/2 per bushel (0102GMT)
- Corn futures up 0.1% at $3.92 per bushel
- Soy futures up 0.1% at $9.28-3/4 per bushel
- Rice futures unchanged at $11.98 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- Preliminary results of Mozambique elections expected
- World Bank/IMF meetings in Washington D.C.; 15-10 Oct. [Link to schedule: https://meetings.imf.org/en/2019/Annual/Schedule]
- South Africa’s Eskom rotational loadshedding; day 2
- By-elections in some Kenya county assembly wards
- South Africa’s Ramaphosa in KZN to launch district development model & projects
- 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]
- Libyan govt raises commercial price for kerosene as first step in reforms
- Guinea govt confirms 9 people killed in political protests this week
- Sudan – Key rebel group halts direct peace talks with Khartoum
- Morocco king pardons journalist in abortion case
- Nigeria govt can’t recover $62 bln sought from oil majors – minister
- Police free hundreds of males, some chained and beaten, from Nigerian school in third raid this month
- South Africa’s rand rattled by power cuts, stocks led higher by Sibanye
- Africa Oil – Angolan exports set to rise, freight pain eases
- Kenya opens $1.5 bln Chinese-built railway linking Rift Valley town and Nairobi
- World Bank court orders Tanzania pay $185 mln to Standard Chartered
- South Africa’s latest power cuts highlight Eskom challenge
- South Africa’s retail sales up 1.1% y/y in August
- Zimbabwe bread price jumps 60%, but shortages persist
- National Express to double Morocco presence with Casablanca bust contract
- South Africa’s Eskom says power cuts likely on Wednesday
N.B. Full stories of above headlines are available on Reuters