By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia stocks given pause by virus surge, geopolitics
- Nikkei eases back after rally, S&P 500 futures dip
- Mood restrained by surge in virus cases, China/India spat
- Recovery hopes supported by jump in US retail sales
Oil Markets
- Oil falls on rise in US crude stocks, virus resurgence fears
- Brent down 1.0% at $40.56 a barrel (0047GMT)
- WTI down 1.5% at $37.79
Precious metals
- Gold steady as virus fears offset firmer equities, dollar
- Spot gold flat at $1,727.22/oz. (0054GMT)
- US gold futures steady at $1,737/oz.
Grains
- Wheat drops for 2nd session on harvest pressure, soybeans fall
- Wheat futures down 0.2% at $4.95-1/4 a bushel (0102GMT)
- Soybeans down 0.1% at $8.66-1/4 a bushel
- Corn down 0.5% at $3.27-1/2 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Bank of Namibia decides on interest rates [fcst. 3.75%, prev. 4.25%]
- Nigeria inflation May-20 [fcst. 12.4% yy, prev. 12.3%]
- Malawi lawyers protest action on judicial independence
- Africa innovation & investment forum 2020; 15-19 Jun
- 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
- World Bank provides $400 mln to boost health insurance in Egypt
- Around 9% of Guinea-Bissau health workers have been infected with covid-19
- Congo mining provinces impose new covid-19 lockdowns
- Nigeria’s Lagos state suspends plans to reopen places of worship
- South Africa Airways rescue plan needs over 10 bln rand to work
- South Africa Airways administrators propose restructuring plan
- Congo says it will launch a tender for a new passport maker after Semlex talks fail
- Congo probing ‘violent death’ of judge in landmark graft trial
- Turkey accuses France of exacerbating Libya crisis
- Morocco central bank cuts rates to 1.5% to shore up economy
- Judge in landmark Congo graft trial died violent death, says minister
- Bodies of children and others found in Libya town after LNA retreat, Red Crescent says
- Red Cross fears coronavirus spreading silently in Somalia’s displaced camps
- Egypt Air seeking $185 mln from state banks to weather crisis
- Dozens missing after boat capsizes on Congo side of Lake Kivu
- Egypt’s GASC seeking vegoils in local tender for arrival August 10-30
- Merkel, Erdogan agree UN process for Libya should be bolstered – statement
- Cameroon archbishop says treating covid-19 with plant-based remedy
- World Bank approves $1 bln for health, education in Congo
- Uganda to hold elections in early 2021, campaign rallies banned
- Egypt seeks loan of over $1 bln, taps UAE banks – sources
- Tanzania president Magufuli dissolves parliament before vote, touts development record
- Ivory Coast requests debt holiday from creditors including Paris Club
- Murders of South Africa women as lockdown eases sparks online campaigns
- Mali fights coronavirus, cotton farmers fear loss of climate aid
- Zimbabwe gold miner RioZim halts production over payment delays
- UK’s SFO ends probe in to De La Rue’s South Sudan dealings
N.B. Full stories of above headlines are available on Reuters
