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