By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Global stocks retreat on rising second wave fears
- S&P 500 futures, MSCI ex-Japan Asia shares down more than 1%
- Investors fret over rise in infections in US, China
- Australia dollar hit by weak local jobs data
Oil Markets
- Oil prices drop on demand worries as coronavirus cases rise
- Brent down 1.1% at $40.26 a barrel (0035GMT)
- WTI down 1.6% at $37.36
Precious metals
- Gold flat as dollar strength checks concerns over virus case spike
- Spot gold flat at $1,725.90/oz. (0256GMT)
- US gold futures nearly unchanged at $1,734.70/oz.
Grains
- Wheat hits 8-mth low on ample global stocks
- Wheat futures down 0.5% at $4.86-1/2 a bushel (0113GMT)
- Soybeans down 0.1% at $8.70-1/2 a bushel
- Corn up 0.2% at $3.29-1/2 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- AU chair & South Africa president, Ramaphosa, briefs press on continental covid efforts
- Kenya’s Kenyatta speaks at the Atlantic Council on US-Africa trade; cabinet reshuffle reportedly imminent
- Kenya (AU endorsed candidate) & Djibouti vie for UN security council Africa slot in second round vote
- Burundi president-elect Ndayishimiye takes oath of office
- South Africa VBS Mutual Bank fraud suspects appear in court
- South Africa ministerial briefing on new covid alert level 3 measures expected
- 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
- WHO halts trial of hydroxychloroquine in covid-19 patients
- Turkey says discussed lasting ceasefire during Libya trip
- Oxford college says it wants to remove statue of colonialist Rhodes
- With climate change, conflict & covid, stresses grow for Mali villagers
- South Africa coronavirus restrictions further eased for casinos, salons
- Sudan extends lockdown in Khartoum state to June 29
- West Africa ministers propose phased re-opening of borders
- France accuses Turkey of hostile acts to stop enforcement of Libya arms embargo
- Zimbabwe hikes govt salaries 50% as nurses picket for pay in dollars
- Namibia faces red locust invasion
- Ghana Cocobod seeks club deal as banks refuse underwriting risk
- South Africa’s rand inches up, Aspen leads stocks higher
- South Africa Land Bank close to completing restructuring plan
- OPEC+ panel makes no recommendation on supply cuts – sources
- Congo cuts 2020 economic growth forecast to -2.4% – cbank
- Egypt passes electoral changes that could bolster Sisi supporters
- Africa Oil – Angola June cargoes selling, differentials steady
- Important to use dexamethasone only for serious covid cases – WHO
- OPEC points to 2020 oil surplus even as demand gradually recovers
- Ugandans join global push to rename colonial-era landmarks
- China will exempt some African countries from repaying certain loans
- Poor health and family ties brought Rwanda genocide suspect into custody
- Zimbabwe nurses protest to demand US dollar salaries
- South Sudan parties agree on state governorships, in step closer to peace
- Ghana GDP growth slows to 4.9% y/y in first quarter
- Acacia Mining employees pay Tanzania $650,000 in tax evasion case
- Turkish ministers visit Libya, Tripoli govt says
- Sudan further opens gold trade to private sector
- Eight suspects arrested in South Africa’s “biggest bank robbery” VBS fraud case
- Tunisia economy could shrink by as much as 7% this year
- Nigeria naira slides on official market on plan to align exchange rates
- Acacia Mining employees released from Tanzania jail
- Nigeria to seek uniform exchange rates, finmin says
- Moscow urges US to help reach Libya ceasefire – RIA
- Nigeria naira opens weaker at 385 per dollar on official window
- Kenya shilling firm on tight liquidity, low importer demand
- Nigeria inflation rises in May to 12.4%, lifted by food and drug prices
- South Africa’s Tongaat to sell eSwatini sugarcane farm for $21 mln
- South Africa’s Massmart warns of 50% deeper half-year loss due to lockdown
N.B. Full stories of above headlines are available on Reuters
