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

Global Markets

• Dollar teeters, gold takes a breather as markets await Fed
• Dollar could post worst month v basket since 2011
• Dovish Fed expected, statement due 1800 GMT
• MSCI AxJ stocks up 0.3% led by China
• Brent up 0.2% at $43.29, WTI flat at $41.03

Oil Markets

• Oil rises after surprise drop in US inventories offsets demand concerns
• Brent up 0.3% at $43.36 a barrel (0326GMT)
• WTI up 0.1% at $41.06

Precious metals

• Gold steadies on virus fears, stimulus bets; Fed meet eyed
• Spot gold little changed at $1,957.84/oz. (0049GMT)
• US gold futures up 0.5% at $1,954.50/oz.

Grains

• Soybeans near 2-wk low as improved US crop weather weighs
• Soybean futures down 0.1% at $8.87 a bushel (0309GMT)
• Wheat up 0.4% at $5.25-3/4 a bushel
• Corn up 0.2% at $3.30-3/4 a bushel

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

• Central Bank of Kenya decides interest rates [fcst. 7.0%, prev. 7.0%]
• South Africa inflation Jun-20 [fcst. 1.9% yy, prev. 2.1%]
• South Africa PSCE Jun-20 [fcst. 6.3% yy, prev. 6.4%]
• South Africa M3 Jun-20 [fcst. 10.8% yy, prev. 10.3%]
• Ghana’s Akufo-Addo tours Northern, North East & Savanna regions
• AfDB’s Africa information highway live exchange webinar
• 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

• Zimbabwe to resume stock trading, Old Mutual unit remains suspended
• South Africa court allows Eskom to claw back $4 bln over three years
• US says air strike in Somalia killed one civilian, injured three
• South Africa Airways rescue plan ready bar the funding, say administrators
• WHO says covid-19 pandemic is “one big wave”, not seasonal
• Three migrants shot dead in Libya after failed crossing to Europe
• Nigeria in $1.5 bln oil prepay deal with traders Vitol, Matrix
• AfDB rightly cleared its president of wrongdoing – independent panel
• Nigeria banks squeezed as central bank shores up naira
• Mali’s opposition rejects West Africa leaders’ plan to end deadlock
• Kenya’s Safaricom launches 4G phone purchase by instalment scheme with Google

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