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