By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asian shares slip before Fed decision on trade deal worries
- MSCI world index stays near 21-mth high
- Investors expect Fed to cut rates, focus on policy outlook
Oil Markets
- Oil prices drop, US falls for 3rd day as Cushing stocks rise
- Brent down 0.2% at $61.44 a barrel (0118GMT)
- WTI down 0.3% at $55.36
Precious metals
- Gold steady on potential trade delay; focus on Fed rate decision
- Spot gold steady at $1,488.23/oz (0114GMT)
- US gold futures unchanged at $1,490.40/oz
Grains
- Corn firms on concerns over US harvest pace
- Wheat futures up 0.2% at $5.12-1/2 per bushel (0132GMT)
- Corn futures up 0.2% at $3.87 per bushel
- Soy futures up 0.1% at $9.19-1/4 per bushel
- Rice futures unchanged at $11.93 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- South Africa medium term budget statement by finmin Mboweni [fcst: 2019/20 (-4.3% of GDP), 2020/21 (-4.1%), 2021/22 (-4.4%)]
- Nigeria’s Supreme Court to hear appeal by opposition PDP on presidential election tribunal verdict
- 4th AU Judicial Dialogue in Kampala, Uganda; 30 Oct-1 Nov
- Nigeria’s Buhari & Kenya’s Kenyatta in Saudi Arabia for 3rd Future Investment Initiative
- South Africa’s Mabuza in China for bi-national commission; 31 Oct – 3 Nov
- Zambia inflation Oct-19 [fcst. 10.6% yy, prev. 10.5%]
- 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]
- Kenyan parliamentary panel recommends rate cap repeal – report
- Senegal SNE oil field capital cost jumps 40% to $4.2 bln
- At least 42 people killed in Cameroon landslide
- Migrants released amid fighting in Libyan capital seek refuge with UN
- Ethiopia’s govt releases activists accused over unrest in June – journalist
- US senior diplomat slams Egypt’s treatment of journalist
- South Africa’s rand dips before budget speech
- Egypt says Washington to host Nov.6 meeting on Ethiopia dam dispute
- Mozambique’s main opposition party appeals election result
- US pitted against UK, France, South Africa, others at UN over abortion
- Nigeria’s Dangote Refinery to rely on ports, roads for fuel deliveries
- South Africa plans sweeping power sector reform as Eskom struggles
- Africa Oil – Nigerian price offers rebound as freight costs ease
- Guinea-Bissau president names new PM but old one refuses to go
- Volkswagen brings electric cars to Rwanda for ride-hailing service
- Libya reopens Tripoli’s Mitiga airport after 2 months of closure
- Zimbabwe central bank to introduce new dollar note and coins
- LMEWEEK – Cobalt market to avoid shortage despite Congo mine closure – Nornickel
- Tunisia dismisses foreign, defence ministers – statement
- Chevron seeks to reduce Nigerian presence with oilfield sales
- South Sudan to offer oil blocks for licensing by Q1 2020
- South Africa aims to complete Eskom split around 2022
- Kenyan team aims to stop fatal snake bites
- MTN’s $2 bln Nigerian tax dispute case set for Jan 30-31
- South Africa hopes to announce new Eskom CEO next week – Gordhan
- Egypt’s first smartphone maker to export to Germany next month
- South Africa’s Q3 unemployment rate at 29.1%, 11-year high
- Kenya shilling firms on horticulture inflows, weak demand
- Zimababwe hikes fuel prices 12%, hitting inflation-weary consumers
- Uganda shilling strengthens, helped by aid organisations inflows
- African Export-Import Bank puts London listing plan on ice
- South Africa’s credit demand growth slows to 6.19% yy in September
- ‘We know we made mistakes’ on 737 MAX – Boeing CEO
N.B. Full stories of above headlines are available on Reuters