By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia shares move ahead led by China gains
- China blue chips gain 2%, PBOC adds more loans
- Nikkei slips as Japan reports record drop in GDP
- Rise in long-term US yields offers some support to dollar
- Gold soft after suffering worst week since March
- Brent up 33 cents at $45.13, WTI up 39 cents at $42.40
Oil Markets
- Oil prices advance as China lines up boost in US crude imports
- OPEC+ ministerial panel to meet on Aug. 19
- Brent up 0.5% at $45.01 (0023GMT)
- WTI up 0.6% at $42.28
Precious metals
- Gold eases as investors await Fed minutes
- Spot gold down 0.2% at $1,940.73/oz. (0258GMT)
- US gold futures flat at $1,950.50/oz.
Grains
- Corn climbs to 1-mth top on fears of US crop damage
- Corn futures up 1% at $3.41-1/2 a bushel (0331GMT)
- Wheat up 1.3% at $5.06-1/4 a bushel
- Soybeans up 0.8% at $9.05-1/2 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- South Africa eases Covid-19 lockdown to alert level 2; ministerial briefings expected
- Ghana’s Akufo-Addo hands over AfCFTA secretariat in Accra
- Kenya senate seeks resolution to county revenue allocation impasse
- Kenya’s Kenyatta potential cabinet reshuffle back in focus; after cabinet et al. sent on compulsory leave
- Nigeria inflation July-20 [fcst. 12.9% yy, prev. 12.6%]
- 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
- Somalia – At least seven dead after gunmen attack Mogadishu hotel
- Egypt disposing of dangerous materials at ports – minister
- Egypt approves law to protect identities of women reporting sex abuse
- India sends team to Mauritius to assist in oil spill
- Mauritania supports ‘good judgement’ of UAE leadership on Israel accord – WAM
- Congo’s central bank makes huge rate hike to 18.5%
- South Africa leader lifts lockdown restrictions after Covid-19 infections fall
- Japan ship involved in Mauritius oil spill breaks apart
- Equatorial Guinea govt & prime minister resign
- Bus torched in Ivory Coast as election tensions run high
- Fire at Sudan military arms factory warehouse south of Khartoum – SUNA
- UN says Mali army chief left village unprotected before massacre
- Ireland to return 5.5 mln euros in Abacha loot to Nigeria – statement
- France PM liken killing of French aid workers in Niger to 2015 Paris attacks
- Son of Angola’s ex-leader sentenced to 5 yrs jail in $500 mln graft case – Lusa
- South Sudan death toll in disarmament fighting rises, Un sends peacekeepers
- South Africa’s Exxaro Resources says Eskom withdraws force majeure on coal deals
- Libya sovereign fund to ask UN for freedom to invest billions
- Plane carrying 4 passengers crashes in dense forest in eastern Congo
- Cautious hopes for slum dwellers relocated in Egypt housing project
- Japan shipping company says Mauritius govt has requested compensation
N.B. Full stories of above headlines are available on Reuters