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

Global Markets

• Asian shares hit speed bump, China extends sharp rally
• Asian shares step back after hitting 4 1/2 –mth high
• China extends rally as investors count on policy support
• Yuan hit highest levels in almost 4 months

Oil Markets

• Oil prices inch higher on output cut support, but US coronavirus spike caps gains
• Brent up 0.2% at $43.17 a barrel (0103GMT)
• WTI up 0.3% at $40.76

Precious metals

• Gold steadies near 8-yr high as virus cases surge
• Spot gold almost unchanged at $1,783.67/oz. (0303GMT)
• US gold futures flat at $1,793.50/oz.

Grains

• Soybeans firm, USDA crop report caps gains
• Soybean futures up 0.2% at $9.08-1/4 a bushel
• Corn up 0.1% at $3.47 a bushel
• Wheat down 0.2% at $4.92-1/4 a bushel

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

• Kenya begins phased reopening of economy
• Fitch SSA webinar; Nigeria & South Africa in focus
• CSIS Africa online debate; Ezekwesili, Ofori-Atta speakers
• Nigeria junior labour minister reappears before Senate committee for questioning over public works programme
• Trilateral Ethiopia GERD talks resume (from 6 July)
• Nigeria MPs investigate $30 bln worth revenue leakages; banks in focus
• South Africa Airways administrators unveil revised restructuring plan
• South Africa FX reserves Jun-20 [prev. $52.77B]
• South Africa consumer confidence Q2-20 [prev. -9]
• 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

• Egypt reports first drop below 1,000 new covid-19 cases since May 27
• Egypt military production minister dies
• Morocco 2020 bugdet review sees fiscal deficit at 7.5%, growth at -5%
• Congo dispatches former warlords to try to resolve ethnic conflict
• Kibali’s $500 mln will be clear to leave Congo ‘very soon’ – Barrick CEO
• Kenya orders probe into rise in violence against women and girls during pandemic
• Kenya protesters set fire to police station after killing
• Ghana presidential candidate selects first female running mate for major party
• UN says attacks by militia in Congo may be war crimes
• South Africa rand up as risk appetite revives, stocks rise
• No quotes on Nigeria’s official FX market after currency weakend at auction
• Malawi’s Chakwera pledges graft clampdown in subdued inauguration amid virus
• Nurses in Zimbabwe arrested as they protest over pay
• Kenya uses app in battle against desert locusts
• Kenya announced phased reopening from coronavirus lockdown
• Nigeria levied $338 mln from banks before weakening retail FX rate
• Tunisia inflation slows to 5.8 pct
• Kenya Airways to lay off staff, reduce network and assets – CEO
• Egypt private economic activity ebbs at slower rate in June – PMI

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