macroafricaintel Daily Brief | 18 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares tick higher as China cuts repo rate
  • China trims short-term interest rate, in surprise move
  • Helps Asia share markets reverse early losses
  • Markets look to Fed minutes, ECB Lagarde speech
  • Pound inches up as opinion polls favour Tories

Oil Markets

  • Oil prices flat with markets on hold for progress in US-China trade talks
  • Brent down 0.1% at $63.25 a barrel (0119GMT)
  • WTI crude unchanged at $57.72

Precious metals

  • Gold inches lower on cautious optimism over US-China trade
  • Spot gold down 0.1% at $1,465.62/oz. (0157GMT)
  • US gold futures down 0.1% at $1,466.80/oz.

Grains

  • Soybeans rise for 3rd session on China-US trade deal hopes
  • Soybean futures up 0.1% at $9.19-1/2 per bushel (0135GMT)
  • Corn futures unchanged at $3.71-1/4 per bushel
  • Wheat futures little changed at $5.03 a bushel

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

  • Nigeria inflation Oct-19 [fcst. 11.7% yy, prev. 11.2%]
  • South Africa state capture inquiry resumes; UK lawmaker Peter Hain to testify
  • Global Business Forum Africa 2019 summit in Dubai; Zimbabwe’s Mnangagwa et al. attending

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

  • UK lawmaker to cast blame on global banks in South Africa Zuma corruption
  • Sabotage on Nigeria’s oil-exporting NCTL pipeline causes significant production losses – Aiteo
  • Unions threaten to ground South Africa’s aviation industry
  • Tunisia’s PM-designate promises to revive hope for frustrated youth, reform state firms
  • UN-backed Libyan authorities seize eastern Libyan plane
  • Algerian protesters attack ‘garbage’ presidential campaign
  • Ethiopian undecided whether to take more Boeing 737 MAX jets
  • South Africa’s DA party picks veteran Steenhuisen as interim leader
  • Ethiopian human rights boss battles scant resources
  • NUMSA plans secondary strike in South Africa’s aviation industry after SAA talks go nowhere
  • Egypt to reduce subsidised staple food prices
  • Protest forces AngloGold Ashanti to suspend Guinea gold mine
  • Last remains of Ethiopian plane crash victims buried, families say little notice given
  • West Africa boot camp seeks artificial intelligence fix for climate-hit farmers
  • South African Airways, unions meet for talks amid damaging strike
  • US may remove Sudan from list of state sponsors of terrorism, but it’s a process – US official
  • IMF agrees lending programme with DR Congo
  • Ennahda’s choice Jemli tapped to be Tunisia PM, faces big challenge
  • IMF expects Congo’s economy to grow 4.5% in 2019, 3.2% in 2020
  • US calls on Libya’s Haftar to halt Tripoli war, warns against Russia’s role
  • South African rand jumps to 1-wk high as trade hopes boost risk buying
  • Savannah completes Seven Energy deal in Nigeria
  • Africa Oil – Nigerian Qua, Bonny at 2013 high on solid demand
  • South Africa’s SAA workers start strike that could cripple airline
  • Congo president says ebola outbreak should be over this year
  • Tunisia’s Ennahda names Habib Jemli as choice for PM
  • Attack on Fulani village kills 20 in central Mali
  • Standard Bank lists Namibian arm on local bourse
  • Shell appoints Citi for $1 bln sale of Egypt assets – sources
  • South Africa’s Steinhoff sells Blue Group to Alteri Investors
  • South African Airways extends flight cancellations to Monday
  • South Africa’s Telkom in talks about possible takeover of Cell C
  • South Africa’s platinum mining firms, top union end ‘titanic battle’ as they seal wage deal
  • Ugandan shilling a touch stronger on sagging appetite from banks, importers
  • Renamo’s appeal to have election result annulled dismissed – Mozambique’s top court
  • Zimbabwe October inflation soars to 38.75% m/m – Zimstats
  • Investec Namibia MD resigns amid fishing bribery scandal
  • South Africa rand at 1-wk high as trade hopes stoke risk appetite
  • Hit by drought and power cuts, Zimbabwe steps up battery storage

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

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