By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Gold hits record, gets more precious as dollar loses value
- Gold runs into profit-taking after meteoric rise
- Dollar holds near 2-yr lows, breaks major chart supports
- Shares take comfort in endless stimulus, Fed policies
- Brent up 5 cents at $43.46, WTI down 7 cents at $41.53
- Spot gold almost $40 higher earlier at $1,980/oz.
Oil Markets
- Oil prices rise on US stimulus hopes, weaker US dollar
- Brent up 0.8% at $43.76 a barrel (0118GMT)
- WTI up 0.7% at $41.87
Precious metals
- Gold eyes $2,000 in record run as dollar dips on dovish Fed bets
- Spot gold up 1.4% at $1,969.76/oz.
- US gold futures up 1.7% at $1,963.30/oz.
Grains
- Soybeans hit 6-day low as US crop weather favours yield prospects
- Soybean futures down 0.8% at $8.92 a bushel (0056GMT)
- Corn down 0.7% at $3.32-1/4 a bushel
- Wheat down 0.3% at $5.26-1/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Kenya senate debates & votes on contentious revenue allocation formula
- Nigeria’s finance minister Ahmed & AFC’s Zubairu speak at Corporate Council on Africa’s Africa finance forum
- Ghana’s Akufo-Addo tours Northern, North East & Savanna regions
- South Africa’s ruling ANC summons presidential spokesperson Diko over allegations on tender irregularities
- 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
- West Africa proposes plan to resolve Mali crisis; opposition unimpressed
- Algeria suspends tax payments for firms affected by coronavirus
- IMF board approves $4.3 bln loan to help South Africa to fight pandemic
- Egypt & Sudan criticise Ethiopia at start of new Nile dam talks
- South Africa’s Steinhoff offers $1 bln to settle global lawsuits
- Zimbabwe calls US ambassador ‘thug’ as anti-govt protests loom
- Egypt jails five women influencers over TikTok posts
- UN announces start of Libya central bank audit
- Nigeria to allow would-be graduates back to school despite spreading covid-19
- Morocco women break through in rap scene dominated by men
- Kenya extends curfew for a month as covid-19 cases jump
- Ivory Coast cocoa main crop should weather below-average rain
- Tanzania opposition leader who survived 2017 gun attack returns from exile
- Africa trade deal could lift millions out of poverty, World Bank says
- South Africa’s Santam to pay $60 mln in relief to virus-hit firms within months – CEO
- AngloGold Ashanti forecasts higher H1 earnings
N.B. Full stories of above headlines are available on Reuters
