By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

• US markets shut for Labor Day holiday
• Asian shares on shaky footing amid elevated valuations, oil skids
• Japan’s Nikkei falls, Chinese shares in red
• MSCI ex-Japan barely changed after two straight days of losses
• Currency market action muted
• Oil falls more than $1 after Saudi price cuts; Brent at $42.16

Oil Markets

• Oil drops more than $1 after Saudi price cuts, demand optimism fades
• Saudi crude prices to Asia fall the most in five months in Oct
• Brent down 2.1% at $41.75 a barrel (0000GMT)
• WTI down 2.3% at $38.86

Precious metals

• Gold gains as global growth worries support demand
• Spot gold up 0.2% at $1,935.50/oz. (0341GMT)
• US gold futures up 0.5% at $1,943.40/oz.

Grains

• US markets shut for Labor Day

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

• ECOWAS leaders meet face-to-face in Niamey; Mali, Eco currency & Covid-19 top on agenda
• Ghana’s main opposition NDC & flagbearer Mahama launch 2020 manifesto
• South Africa’s opposition EFF protest against racist slur by corporate
• South Africa FX reserves Aug-20 [prev. $57.88B]
• Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today

• ‘Hotel Rwanda’ hero was not kidnapped – President Kagame
• Algeria says new constitution to meet protesters’ demands, allow more reforms
• Senegal activates emergency floods aid plan after downpour
• Veteran Guinea opposition leader to challenge President Conde in October election
• France’s Le Drian: We must not let the guard down in Mali
• Nigeria to deliver aid by air in conflict-hit northeast
• First Abu Dhabi Bank to restart talks on Bank Audi’s Egypt unit – sources
• Tunisia police kill three suspected militants after fatal attack on officer
• Ousted Mali president leaves country for Abu Dhabi as transition talks begin
• Two France soliders killed, one injured in Mali – Presidency
• Ethiopia’s upper house rules Tigray regional vote unconstitutional
• Dozens of hippos at risk in dried-up water hole in Namibia
• Rowdy protests get Mali transition off to chaotic start
• Sudan declares 3-month state of emergency over floods – SUNA
• UK court allows Nigeria more time to appeal in $10 billion dispute
• Congo police fire tear gas to disperse protest over Rwanda diplomat
• Libya families file US lawsuit accusing LNA leader Haftar of war crimes
• Sudan and major rebel group agree to resume peace talks
• About 10 Mali soldiers killed in militant attack, army says
• Algeria’s Sonatrach says it controlled oil leaks
• Malawi’s economy to shrink 1.9% in 2020, president says
• Black Lives Matter forces South Africa sport to face past demons
• Mali’s junta faces reality check as honeymoon phase ends
• Turkey says France’s Macron ‘hysterical’ over Syria, Libya, East Med
• Ethiopia Airlines in rescue talks with South Africa Airways – CEO
• Militia enters city unopposed in east Congo, surrounds prison
• Thousands rally to support Congo’s threatened Nobel Laureate
• South Africa’s Eskom suspends managers it blames for plant breakdowns
• Ethiopia Tigray region to hold poll, defying federal govt
• Kenyans fear ‘ecologicial disaster’ if two swollen lakes merge
• Algeria’s Sonatrach says 2 oil leakages occurred at the OK1 pipeline due to bad weather

N.B. Full stories of above headlines are available on Reuters