By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia markets to open lower on pandemic worries, shrugging off US equities upswing
- Australia shares down 1.1%
- Nikkei up 0.24%, Hang Seng down 0.34%
- Brent down 0.7% at $44, WTI down 0.8% at $41.59
- Spot gold up 1.5% at $1,842.52/oz.
Oil Markets
- Oil prices fall on US inventory build, increasing pandemic fears
- US crude stockpile rise sharply in latest week – API
- Brent down 0.7% at $44 a barrel (0156GMT)
- WTI down 0.8% at $41.59
Precious metals
- Gold climbs to 9-yr high on weaker dollar, stimulus bets
- Spot gold up 0.1% at $1,843.09/oz. (0034GMT)
- US gold futures up 0.1% at $1,845.90/oz.
Grains
- Chicago corn, soybeans rebound on Chinese buying; wheat firms
- Corn futures up 0.2% at $3.31-1/2 a bushel (0106GMT)
- Soybeans up 0.2% at $8.94-3/4 a bushel
- Wheat up 0.1% at $5.28-1/2 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Issoufou, Akufo-Addo & Ouattara expected in Mali to solve crisis [during the remainder of week]
- South Africa central bank MPC meets; 21-23 Jul [fcst. 3.75%, prev. 3.75%]
- Ghana central bank MPC meets; 22-27 Jul [fcst. 14.5%, prev. 14.5%]
- South Africa restaurant & hospitality industry protests expected
- Ivory Coast’s Ouattara expected to respond to party’s request to seek third term
- Ghana’s special development initiative minister Koomson in the spotlight; after shooting incident
- Nigeria auctions 130 bln naira worth of bonds; settlement on 24 Jul
- South Africa releases Apr-20 retail sales data
- South Africa state capture inquiry continues
- 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
- Egypt’s army says it foiled ‘terrorist’ attack in northern Sinai
- Saudi King Salman holds cabinet meeting virtually from hospital – SPA
- Ethiopia, Egypt & Sudan to holdmore talks on GERD
- Egypt agrees with Ethiopia, Sudan on the priority of reaching a dam binding deal
- Italy prosecutors seek jail for Eni, Shell executives in Nigeria case
- Ethiopia says first year of filling Renaissance dam achieved due to rain
- Zimbabwe tightens covid rules ahead of anti-govt protests
- Radisson adds six hotels in Africa in bet on future growth
- US NHC: 80% chance of cyclone between west coast of Africa, Lesser Antilles
- Algeria’s Skikda LNG plant resumes production after maintenance – Sonatrach
- Iraq increases oil exports in July, still pumps above OPEC+ target
- Sudan’s Bashir trial for 1989 coup adjourned as crowds jostle outside court
- South Africa has not committed to fund SAA rescue plan, finmin says
- AfDB agrees $400 mln loan for Mozambique LNG
- Uganda’s Museveni seeks re-election to extend rule to four decades
- Algeria expects energy revenue to fall $10 bln this year
- Fight to save Senegal capital’s coast gains momentum
- Kenya flower industry rebounds as lockdowns ease
N.B. Full stories of above headlines are available on Reuters
