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 4^th 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