macroafricaintel Daily Brief | 22 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia looks on bright side of Brexit, trade talks
  • Asian trade quiet with Tokyo off, no major data due
  • Trump, Kudlow sound upbeat on China trade talks
  • Pound holds firm as more Brexit votes loom
  • Trudeau’s Liberals to form minority govt after election

Oil Markets

  • Oil prices edge up on US-China trade optimism, but demand concerns cap
  • Brent up 0.2% at $59.10 a barrel (0027GMT)
  • WTI up 0.3% at $53.49

Precious metals

  • Gold eases as trade-deal hopes lift risk mood
  • Spot gold down 0.1% at $1,482.41/oz. (0038GMT)
  • US gold futures down 0.2% at $1,485.80/oz.

Grains

  • Corn falls for 3rd session on US harvest progress; wheat eases
  • Wheat futures down 0.2% at $5.22-1/2 per bushel (0043GMT)
  • Corn futures down 0.3% at $3.86 per bushel
  • Soy futures nearly unchanged at $9.33 per bushel
  • Rice futures nearly unchanged at $11.80 per hundredweight

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

  • Russia-Africa summit in Sochi; 23-25 Oct [Nigeria’s Buhari already in Sochi]
  • Kenya’s Kenyatta & Ivory Coast’s Ouattara in Japan for Emperor Naruhito’s coronation; both & others to head to Sochi thereafter
  • South Africa’s Mabuza to apprise parliament on AfCFTA progress

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • South Africa’s Pick n Pay posts 9.5% rise in first-half earnings
  • Nigerian anti-graft office charges 2 Britons in connnection with failed gas deal
  • South Africa’s Eskom takes Deloitte to court alleging improper contracts
  • Uganda says its economy 11% larger after rebasing
  • Opposition calls for Mozambicans to reject election count as Nyusi takes lead
  • Tens of thousands rally against former ruling party in Sudan
  • EU wheat dips from 3-mth high ahead of Algeria tender
  • South Africa medium-term budget confirmed for Oct. 30
  • South Africa’s rand steady in wait-and-see trade
  • Africa Oil – Diffs steady as Nigerian programmes emerge
  • Zimbabwe says 55 elephants die from starvation after drought
  • South Africa will soon announce CEO for crisis-hit utility Eskom – Ramaphosa
  • Botswana faces first close election contest since independence
  • Putin steps up drive for clout in Africa with broadside against West
  • British-born Nigerian actor hopes black skinhead film will “heal” pain
  • Egypt exported 172.8 bln cubic feet of gas from Idku in 2018/19 – EGAS
  • Sudan reble leader says govt agreed to open access for aid
  • BCP says Angola’s Sonangol reaffirms intent to remain shareholder, shares jump
  • Morocco’s Maroc Telecom reports flat Q3 profit
  • Rioting migrants torch cars, injure policeman at Maltese holding centre

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

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