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

Global Markets

• Asian markets dip as virus & Sino-US tensions flare
• Dollar firm & stocks under pressure
• Asia ex-Japan index down 1%, Nikkei off month high

Oil Markets

• Oil prices drop on demand recovery fears amid US virus surge
• Brent down 1.8% at $41.95 a barrel (0138GMT)
• WTI down 2.1% at $39.26

Precious metals

• Gold eases on firmer dollar, virus fears cap losses
• Spot gold down 0.2% at $1,798.52/oz. (0042GMT)
• US gold futures down 0.7% at $1,802.20/oz.

Grains

• Corn eases, but USDA crop report caps losses
• Corn futures down 0.1% at $3.36-1/4 a bushel (0127GMT)
• Soybeans unchanged at $8.75-1/4 a bushel
• Wheat little changed at $5.24-1/2 a bushel

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

• OPEC JMMC meets; 14-15 Jul
• AfDB launches 2020 North Africa economic outlook report
• South Africa releases May-20 mining production data
• 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

• Nigeria in court battle to overturn $10 bln arbitration award
• G7 ministers urge full implementation of G20 debt freeze – US treasury
• UN peacekeeper killed in CAR attack
• Tunisia PM will reshuffle cabinet amid row with moderate Islamist Ennahda
• Sudan declares emergency in Darfur region after violence
• Morocco plans $624 mln aid package for RAM airlines
• Protesters injured in Mali demonstrations as UN calls for calm
• South Africa to introduce universal income grant – minister
• Nigeria will boost its compliance with OPEC+ cuts – SPA
• Algeria aims to save $20 bln through reforms, lower import spending
• Zimbabwe sacks hospital bosses after firing of health minister
• Ebola spreading in western Congo with nearly 50 confirmed cases – WHO
• South Africa retail group TFG to buy Jet assets from Edcon
• Better African heatwave data could save lives, shield economies, report says
• After losing jobs, many Sudanese struggle to make ends meet in Egypt
• Ivory Coast cocoa farmers bullish about growing conditions ahead of main crop
• Grassroots help for homeless, drug addicts thrives in lockdown South Africa
• Madagascar’s president says two lawmakers have died from covid-19
• Head of Somalia’s military unhurt, civilian killed in suicide car bomb on convoy
• DR Congo police fire tear gas to disperse protests over election chief
• UAE wants to see a return of Libya’s oil production with safeguards – minister
• Ivory Coast vice president quits, days after PM’s death
• South Africa – Zindzi Mandela, daughter of Nelson Mandela, dies
• Ceasefire in Libya now would not benefit GNA, Turkey says
• Mali govt criticised by UN, EU for lethal response to protests
• Uganda cracks down on media ahead of elections in 2021, watchdog says

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