By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia stocks cautiously mixed, dollar tries to bounce
- Asia ex-Japan dips, Nikkei aided by yen pullback
- Caixin China PMI beats forecasts at 52.8
- Dollar adds to Friday bounce, after punishing July
- Brent down 7 cents at $43.45, WTI eased 8 cents at $40.19
- Gold reaches new peak, eyeing $2,000 level
Oil Markets
- Oil falls on supply glut fears as OPEC+ set to boost output
- OPEC+ set to raise outputin August, adding 1.5 mln bpd
- US oil & gas rig count holds steady at record low
- Brent down 0.6% at $43.26 a barrel (0253GMT)
- WTI down 0.7% at $39.98
Precious metals
- Gold soars to record high as virus fears lift safe-haven demand
- Gold up 30% so far this year
- Specs cut gold bullish positions in week ended July 28 – CFTC
- Spot gold steady at $1,973.94/oz. (0254GMT)
- US gold futures up 0.3% at $1,992.30/oz.
Grains
- Wheat falls 1% on global stockpiles, tepid demand
- Bumper global wheat production expected
- Wheat futures down 0.8% at $5.26-3/4 a bushel (0254GMT)
- Corn up 0.2% at $3.27-1/2 a bushel
- Soybeans up 0.7% at $8.98-1/2 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Electoral Commission of Ghana press briefing on ongoing voter registration
- Ghana’s main opposition NDC press briefing
- 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 over the weekend & early a.m today
- Cameroon tomato farmers count losses to wild weather & lockdown
- Algeria says to investigate actions targeting stability
- Suspected militants kill 16 in northern Cameroon
- Algeria leader secures fugitive officer with Erdogan call, source says
- South Africa telecom operator Telkom moves into financial services
- South Africa Covid-19 cases surpass half a million
- Egypt says Turkish seismic survey plans could encroach on its waters
- Nigeria’s Lagos to allow places of worship to reopen – governor
- Ivory Coast’s former PM named by Gbagbo’s party as presidential candidate
- Kenya Airways resumes international flights after virus curbs lifted
- South Africa’s deputy finance minister asked to step aside over abuse of power claim
- Egypt reports lowest coronavirus daily figure since May 3
- South Africa will not have universal basic income grant this year, minister says
- Namibia to close schools, limit public gatherings as Covid-19 cases surge
- UN to train Botswana traditional leaders to fight gender-based abuse
- South Africans push back against 5G towers in their backyards
- Solar beats salt, bringing clean water to coastal Kenyans
- WTO fails to agree on interim leader before choosing new chief
- Congo soldier shoots dead 12 in drunken rampage
- South Africa produces its first ventilators to fight Covid-19
- South Africa economy could contract 8.2% if second Covid-19 wave hits, OECD says
- South Africa insurers’ offer in Covid claims fight too little too late for some
- Zimbabwe businesses closed, streets deserted on day of protests
N.B. Full stories of above headlines are available on Reuters
