By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia shares creep higher as markets wait for Fed
- MSCI AxJ index up 0.3%, Nikkei +0.1%
- Currencies becalmed, yen firm
- Fed statement due 1800GMT
Oil Markets
- Oil drops after US inventory build renews oversupply concerns
- Brent down 1.4% at $40.61 a barrel (0055GMT)
- WTI down 1.8% at $38.26
Precious metals
- Gold gains as equity rally pauses ahead of Fed verdict
- Gold up for third straight session
- Spot up gold 0.1% at $1,715.43/oz. (0248GMT)
- US gold futures up 0.1% at $1,723.60/oz.
Grains
- Soybeans rise on China demand, wheat snaps 3 day of losses
- Soybean futures up 0.2% at $8.64-3/4 a bushel (0007GMT)
- Wheat up 0.2% at $5.05-1/4 a bushel
- Corn unchanged at $3.27-1/2 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Kenya’s Kenyatta meets county governors on covid preparedness
- Burundi presidential transition after Nkurunziza death; Assembly president Nyabenda yet to be sworn in
- South Africa SACCI business confidence May-20 [prev. 77.8]
- Key African countries on lockdown or restricted; subdued economic activity
- Covid-19 updates by authorities across the continent
Key African events or data releases yesterday & early a.m today
- [Terrorist group] kills 69, razes village in northern Nigeria – sources
- Libya’s NOC confirms continuation of force majeure at Sharara field
- EU calls on conflict parties in Libya to withdraw foreign forces
- Sudan committee seizes Bashir’s bank account, closes FX bureaus
- Morocco to ease coronavirus lockdown measures
- EU call on conflict parties in Libya to agree on ceasefire, withdraw foreign forces
- Egypt, Ethiopia, Sudan resume talks on Blue Nile dam
- Guinea signs Simandou iron deal with SMB-Winning consortium
- Sudan – Darfur militia leader in ICC custody, face allegations of crimes against humanity
- South Africans protest police brutality against poor under lockdown
- Ivory Coast to reduce fees paid by domestic cocoa exporters
- Outgoing Burundi president Nkurunziza, famed for soccer and violence, dies
- Africa Oil – Spot activity muted after large tender
- South Africa rand flat, stocks slip as risk bulls pause for Fed meeting
- Malawi presidential re-run moved forward to June 23
- Putin & Merkel discuss Syria, Libya, Ukraine in phone call – Kremlin
- Coronavirus threatens Kenya goal to end FGM by 2022
- South Africa airline SA Express escapes liquidation for now
- At least 20 die as migrant boat sinks off Tunisia
- Administrators propose sale of South Africa’s Edcon, see potential job cuts
- Orange subsidiary to raise $174 mln on West African debt market
- Tanzania opposition leader attacked by unidentified people
- South Africa solar startup SunExchange raises $3 mln
- Kenya shilling inches down against the dollar
- South Africa’s Steinhoff flags pandemic hit, scraps Conforama Iberia sale
- South Africa’s Life Healthcare hit by cyber attack
- Kenya central bank to hold its rate-setting meeting on June 30
- Libya’s NOC says “armed force” entered El Sharara oilfield, told employees to stop work
N.B. Full stories of above headlines are available on Reuters