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