By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asian stocks mostly higher as trade, virus treatment hopes lift mood
- MSCI AxJ gains 0.32%, close to 2-yr peak
- Nikkei +1%, ASX 200 +0.7%
- Positive signs from US & China trade talks
- Brent firms in early Asian trade at $45.21
- Stronger dollar holds gold at $1,933/oz.
Oil Markets
- Oil prices mixed on storm-driven output cuts, rising Covid-19 cases
- Twin storms force deep US production cuts
- Brent up 0.1% at $45.18 a barel (0055GMT)
- WTI up 0.2% at $42.53
Precious metals
- Gold ticks higher as dollar slips; focus turns to Powell’s speech
- Spot gold up 0.2% at $1,935.88/oz. (0335GMT)
- US gold futures up 0.1% at $1,941.60/oz.
Grains
- Corn at 6-wk high on US-China trade talks, crop condition
- Decline in US crop ratings support underpins CBOT futures
- Corn futures up 1.5% at $3.50 a bushel (0312GMT)
- Soybeans up 1.1% at $9.15-1/2 a bushel
- Wheat up 0.4% at $5.29-3/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- AfDB 2020 annual meetings; 25-27 Aug [Adesina expected to be re-elected chief]
- WHO Africa regional committee holds 70th session
- Kenya’s Kenyatta cabinet reshuffle in focus ahead of Friday when ordered recess ends
- South Africa state capture inquiry continues
- 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
- Japan’s Nagashiki says has scuttled part of Mauritius oil-spill ship
- Tunisia prime minister designate announces a technocratic govt
- At least 15 dead as rebels attack southern Burundi
- Algeria to hold referendum on constitution on Nov. 1
- Mali talks end with no decision on transitional govt
- Ivory Coast’s Ouattara applies to run for third term amid protests
- Mali junta says decision on transitional govt to be decided “by Malians”
- South Africa’s Absa shares up as investors look past profit plunge
- Ivory Coast weather helps main cocoa crop, outlook good – farmers
- Congo grants new export ban waivers for copper, cobalt, tin
- Zimbabwe court denies bail to journalist over anti-govt protests
- West Africa’s BCEAO cbank reopens in Mali for first time since coup
- Nigeria’s economy shrinks 6% in second quarter on oil crash, pandemic double whammy
- South Africa’s Ramaphosa reprimands finance minister over tweets on Zambia
- South Africa’s Aspen in deal talks about European commercial unit’s segment
N.B. Full stories of above headlines are available on Reuters
