By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asian stock markets gain following tech bounce, euro waits for ECB
- MSCI AxJ up 0.5% after Nasdaq jumped 2.7% overnight
- Currency markets await ECB
- Oil prices back under pressure amid demand fears
- Brent down 0.4% at $40.63, WTI down 0.6% at $37.82
Oil Markets
- Oil prices fall as growing US stockpiles signal bumpy demand recovery
- US stockpiles rose last week, drop had been expected
- Brent down 0.4% at $40.62 a barrel (0417GMT); rose 2.5% Wed.
- WTI down 0.6% at $37.81; rose 3.5% on Wed.
Precious metals
- Gold at 1-wk high as weak dollar supports; ECB meet in focus
- Spot gold flat at $1,945.87/oz. (0307GMT)
- US gold futures steady at $1,955.50/oz.
Grains
- Soybeans retreat from over 2-yr high ahead of USDA report
- Soybeans snap winning streak despite Chinese demand
- Wheat firms on concerns over Black Sea production
- Soybean futures down 0.2% at $9.76-1/2 a bushel (0342GMT)
- Corn up 0.1% at $3.60-1/2 a bushel
- Wheat up 0.4% at $5.46 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- South Africa current account balance Q2-2020 [fcst. 5.1% of GDP, prev. 1.3%]
- South Africa manufacturing production Jul-20 [fcst. -11.2% yy, prev. -16.3%]
- South Africa mining production Jul-20 [fcst. -20.4% yy, prev. -28.2%]
- South Africa SACCI business confidence Aug-20 [prev. 82.8]
- AGRF virtual “Feed the Cities” summit in Kigali; 8-11 Sep
- South Africa state capture inquiry continues
- Covid-19 updates by authorities across the continent
Key African events or data releases yesterday & early a.m today
- South Africa human rights lawyer George Bizos dies at 92
- Mali’s protest leader backs civilian ‘rare bird’ to lead transition
- Guinea constitutional council clears President Conde’s third term bid
- Floods kill at least 13 and injure 19 in Burkina Faso
- Nigeria in talks to give up majority stakes in refineries, NNPC chief says
- All four of Nigeria’s refineries are currently shut down, says NNPC chief
- Turkey sentences five journalists for naming intelligence agents in Libya
- Businesses doing good can reboot ‘fairer’ Africa after coronavirus
- Ethiopia’s Tigray holds regional election in defiance of federal govt
- United to add new direct US flights to Africa, India, Hawaii
- Uganda move to regulate online activity is tool to curb dissent ahead of polls – rights groups
- South Africa volunteers on AstraZeneca vaccine trial say not alarmed by pause
- Egypt sets up commodities exchange for wheat, oils, sugar and rice
- Nigeria asks for $1.1 bln advance from Eni, Shell in graft case
- Air Namibia plans 50% cut to wages of some workers
- Kenya’s $580m medical equipment leasing deal ‘criminal’ – Senate panel
- Tullow Oil fending off potential cash crunch, reports $1.3 bln loss
- Zimbabwe nurses end 3-mth strike over pay
- Strategic Somaliland touts its oil and gas as opens Taiwan office
N.B. Full stories of above headlines are available on Reuters
