By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

• Asian shares waver with coronavirus, corporate earnings in focus
• MSCI ex-Japan eases with 4-1/2 month hit on Tuesday
• Oil prices slip on oversupply fears
• Gold near 8-1/2 year high on safe haven demand
• Citi ‘overweight’ on US & EM equities

Oil Markets

• Oil dips as US inventory build stokes supply fears
• Brent down 0.3% at $42.95 a barrel (0019GMT)
• WTI down 0.3% at $40.52

Precious metals

• Gold steady near highest since November 2011 on flight to safety
• Spot gold steady at $1,793.56/oz. (0031GMT)
• US gold futures down 0.2% at $1,806.30/oz.

Grains

• Soybeans fall to 6-day low as weather concerns recede
• Soybean futures down 0.2% at $8.97-3/4 a bushel
• Corn down 0.5% at $3.50-3/4 a bushel
• Wheat up 0.1% at $4.95-3/4 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

• Electoral Commission of Ghana briefs press on ongoing voter registration
• Financial Times Africa debt digital dialogue; Kaberuka, Daly et al. speakers
• Nigeria resumes domestic flights
• 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

• Algeria prepares new plan to revive economy, reduce independence on oil
• Zimbabwe health minister, accused of corruption, sacked – statement
• Egypt women flood instagram with ‘MeToo’ stories as suspect arrested
• Nigeria naira eases sharply on official market after pressure to unify FX rate
• Glencore copper mine in Congo says six workers have coronavirus
• Implement substantive reforms, Paris Club creditors tell Zimbabwe
• Libya’s NOC says oil blockage to halve oil output in coming years
• Nigeria naira eases 5.5% on official market backed by central bank – traders
• Parts of South Africa’s Edcon set for sale to Durban-based retailer
• Africa to rebound from pandemic slump in 2021 but damage done – AfDB
• South Africa rand slides as coronavirus infection rise dims outlook
• African economies could shrink 3.4% this year, rebound in 2021 – AfDB
• Kenya police fire teargas, arrest marchers protesting at brutality
• Ivory Coast’s 2020 growth seen sliding to 0.8% due to pandemic
• Egypt charges student with sex crimes in case that stoked debate
• No quotes on Nigeria’s official FX market for second session
• South Sudan central bank cuts benchmark interest rate to 10%
• Congo health workers reduce coronavirus services in pay protest
• South Africa faces battle to rein in spending – Fitch
• South Africa has bad record on keeping budget promises – Fitch
• Uganda shilling little changed as sluggish consumer spending cuts demand
• Sierra Leone doctors threaten to expand strike amid covid-19 crisis
• Africa’s top publisher to close South Africa publications, cut jobs
• Free ambulance helps save mothers and babies in Kenya lockdown
• Egypt, France, Germany, Jordan warn Israel on annexation
• Senegal slave island, moved by George Floyd’s death, renames Europe square
• Egypt foreign reserves recover slightly to $38.2 bln
• Cameroon activist campaigns against colonial monuments
• South Africa’s Massmart says 1,800 Game jobs at risk
• Kenya shilling steady on muted demand
• Kenya central bank to hold its rate-setting meeting on July 29
• South Africa consumer confidence crashes to 35-yr low in second quarter – survey
• South Africa’s Omnia swings to annual profit as turnaround bears fruit
• South Africa central bank reduces bond purchases to 5 bln rand in June
• South Africa net foreign reserves rose to $45.7 bln in June
• With drones and masks, African innovators keep covid-hit economies afloat

N.B. Full stories of above headlines are available on Reuters