By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asian shares slip from 2-yr top as economic strains pile up
- Focus back on macro as earnings season recedes
- MSCI AxJ dips marginally from 2-yr peak
- Dollar steady as traders wait for Powell speech
- Brent up 0.3% at $45.98/barrel
- Gold steady at $1,930.80/oz.
Oil Markets
- Brent prices rise on US output cuts, China trade deal hopes
- US crude, gasoline stocks fall in last week – API
- Brent up 0.3% at $45.98 a barrel (0335GMT)
- WTI steady at $43.35
Precious metals
- Gold flat as growth risks offset trade hopes; Powell speech in focus
- Spot gold flat at $1,928.35/oz. (0306GMT)
- US gold futures up 0.6% at $1,934.70/oz.
Grains
- Corn up for 4th session, soybeans at 7-mth top on US-China trade hopes
- Strong Chinese demand driving Chicago corn, soybean prices higher
- Corn futures up 0.1% at $3.54-3/4 a bushel (0250GMT)
- Soybeans up 0.2% at $9.22-1/4 a bushel
- Wheat up 0.3% at $5.37 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- South Africa inflation Jul-20 [fcst. 2.4% yy, prev. 2.2%]
- African Banker announces winners of 2020 awards
- AfDB 2020 annual meetings; 25-27 Aug [Adesina expected to be re-elected chief]
- Kenya’s Kenyatta potential cabinet reshuffle in focus ahead of Friday when ordered recess ends
- 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
- Congo elephant poacher jailed for 30 years; landmark case hailed
- ‘UFO’ in Congo jungle turns out to be internet balloon
- Sudan PM tells Pompeo he’s not authorised to normalise ties with Israel
- Zambia’s ZCCM-IH seeks to take control of Glencore’s Mopani Copper Mines
- Zambia court acquits health minister accused of corruption
- South Africa court allows sheep exports to Middle East, rejects cruelty concerns
- Sudan & Ethiopia pledge to push for deal on Blue Nile dam
- Wild polio suffers reflect as Africa declared free of the disease
- Egypt orders arrests after Instagram account exposes gang rape
- Zimbabwe makes it illegal for schools to expel pregnant girls
- Pompeo says Sudan’s democratic transition is “once in a generation opportunity”
- South Sudan seeks $250 mln loan from Afrexim bank
- S Secretary of State Pompeo flies to Sudan from Israel
- Tunisia premier designate names a technocratic govt
N.B. Full stories of above headlines are available on Reuters
