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