By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asian shares down on virus risk, US-China tension
- Equities and risk assets take a hit
- China stocks fall after red-hot rally
- Growth in US coronavirus cases unsettles markets
Oil Markets
- Oil dips, heading for weekly loss as virus cases rise
- Brent down 0.2% at $42.28 a barrel (0114GMT)
- WTI down 0.3% at $39.49
Precious metals
- Gold set for 5th weekly gain as pandemic rages
- Spot gold little changed at $1,801.69/oz. (0041GMT)
- US gold futures up 0.2% at $1,806.90/oz.
Grains
- Wheat set for best weekly gain in 4 mths on global harvest worries
- Wheat futures on track for weekly gain of more than 6%
- Corn also set for a weekly gain
- Soybeans also expected higher for the week
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Nigeria’s Buhari signs revised 2020 budget
- Nigeria’s finmin Ahmed hosts public forum on 2021-23 MTEF
- South Africa state capture inquiry resumes
- 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
- Algeria tightening travel restrictions to limit coronavirus infections
- Kenya musuem, Mau Mau fighter shed light on British colonial abuses
- Sudan’s Khartoum airport partially opens to flights from Egypt, Turkey and UAE
- Nigeria’s President Buhari to sign revised 2020 budget into law on Friday – presidency
- At least three killed in protests over Congo election chief
- Ivory Coast ruling party may ask president to stand again after PM dies
- Botswana to ration fuel amid shortage
- Egypt annual headline inflation rises to 5.6% in June – CAPMAS
- Nigeria excess crude account held $72.41 mln as of July 7 – finmin
- Nigeria naira ease on black market after moves to unify official FX rate –traders
- Malawi new female cabinet ministers vow to push for jobs for women
- South Africa court dismisses appeal against SAA layoff ruling
- Botswana finds more elephants, says test results due this week
- Africa could have covid-19 vaccine in Q1 if human trials work – South Africa trial lead
- Ghana health workers warn of potential covid-19 calamity
- Foreign mineworkers return to South Africa mines after lockdown
- Nigeria drops plan for some pupils to return to school amid covid-19 concerns
- Sudan finance, foreign and energy ministers replaced in reshuffle
- US warns aid at risk unless alleged abuses in W.Africa’s sahel region addressed
- Eastern Congo militia pledges to surrender after leader forced out
- Kenya shilling under pressure, Tanzania’s stable; in week ahead
- Ivory Coast dollar bonds fall after death of ruling party candidate
- Kenya to sell 5-yr, 10-yr and 15-yr bonds in July – cenban
- South Africa manufacturing output falls 49.4% y/y in April
- Air Namibia allowed to fly again after court suspends licence cancellation
- Africa urged to test more as coronavirus cases exceed 500,000
- Mali president offers concessions to end political stalemate
- Zambia health minister corruption trial delayed a week
- Fears at Nile’s convergence in Sudan that new dam will sap river’s strength
- Kenya shilling weakens against dollar
- Uganda shilling firms as low consumer spending cuts demand
- Uganda central bank may cap commercial bank interest rates
N.B. Full stories of above headlines are available on Reuters
