By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Shares drop as China consulate closure fans Sino-US tensions
- MSCI Asia ex-Japan -0.3%; Nikkei down 0.6%
- Investors fear further escalation of US-China tensions
- Trump says other consulate closures possible
- Brent up 1 cent at $44.30, WTI flat at $41.90
- Spot gold down 0.3% at $1,865.84/oz.
Oil Markets
- Oil ticks up, but gains capped by demand destruction
- Rising covid cases reduce US summer fuel consumption
- US crude inventories up by 4.9 mln barrels
- US-China tensions add pressure
- Brent up 0.1% at $44.31 a barrel (0207GMT)
- WTI up 0.1% at $41.96
Precious metals
- Gold slips as investors book profit, holds on to near 9-yr high
- Spot gold down 0.2% at $1,867.36/oz. (0333GMT)
- US gold futures up 0.1% at $1,867/oz.
Grains
- Soybeans ease as US-China tensions fuel demand concerns
- Soybean futures down 0.2% at $8.94 a bushel (0309GMT)
- Corn down 0.3% at $3.33-3/4 a bushel
- Wheat down 0.4% at $5.32-1/2 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Ghana’s Ofori-Atta delivers mid-year covid-focused budget review
- Issoufou, Buhari, Akufo-Addo, Sall & Ouattara due in Mali to solve crisis
- South Africa central bank decides interest rates [fcst. 3.75%, prev. 3.75%]
- Nigeria’s finmin Ahmed & statistics chief Kale host webinar on data & good governance
- Nigerian-British Chamber of Commerce hosts webinar; Buhari’s trade minister Adebayo, economic advisory council chair Salami & Dangote key speakers
- Ghana central bank MPC meets; 22-27 Jul [fcst. 14.5%, prev. 14.5%]
- Ghana’s special devpt initiative minister Koomson in spotlight; after shooting incident
- Cuban doctors arrive Kenya to support covid-19 efforts
- 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
- Sudan’s Hamdok says currency to be adjusted as he unveils reforms
- Party of Ivory Coast ex-President Gbagbo ask him to run in Oct polls
- Militants in northeast Nigeria execute four aid workers
- AfDB approves 5 bln rand loan to South Africa
- Sudan appoints 18 civilian state governors as part of transition
- Sudan to begin currency adjustment in August
- Egypt extends operating hours of cafes, restaurants until midnight from July 26 – statement
- Don’t expect first covid-19 vaccinations until early 2021 – WHO’s Ryan
- Botswana has not found more dead elephants midway through survey
- Sudan to adjust pound’s exchange rate over two years
- Zimbabwe court suspends police search warrant against Econet
- Turkey says any Libya ceasefire deal requires Haftar withdrawal
- South Africa restaurants plead for end to ‘job-killing’ restrictions
- Zimbabwe activist, journalist charged in court over planned protests
- Africa’s confirmed covid-19 cases exceed 750,000 – Reuters ally
- Former Ivory Coast minister to run for president in break with ruling party
- Ethiopia Airlines cargo plane catches fire at Shanghai airport, no casaulties
- South Africa anit-apartheid campaigner Andrew Mlangeni dies at 95
- Power cuts return, adding to frustrations in covid-weary South Africa
N.B. Full stories of above headlines are available on Reuters
