macroafricaintel Daily Brief | 26 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks cheered by fresh trade talk momentum
  • Share edge higher in risk-on mood
  • Yen & Swiss franc on back foot in Asia
  • Oil prices reverse losses on trade outlook

Oil Markets

  • Oil prices steady amid hopes for US-China trade deal
  • Brent down 1 cent at $63.64 a barrel (0121GMT)
  • WTI down 3 cents at $57.98

Precious metals

  • Gold dips as China-US trade optimism dents safe-haven demand
  • Spot gold down 0.1% at $1,453.24/oz. (0108GMT)
  • US gold futures down 0.2% at $1,453.50/oz.

Grains

  • Wheat eases from 1-mth top, soybeans tick up after 4 sessions of losses
  • Wheat futures down 0.4% at $5.31 per bushel (0150GMT)
  • Corn futures down 0.3% at $3.69-1/4 per bushel
  • Soy futures up 0.2% at $8.94-1/2 per bushel
  • Rice futures nearly unchanged at $12.20 per hundredweight

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

  • Central Bank of Nigeria interest rate decision [fcst. 13.5%, prev. 13.5%]
  • Central Bank of Kenya’s Njoroge post-MPC press briefing
  • Guinea-Bissau vote-counting ongoing
  • Global gender summit in Kigali; 25-27 Nov
  • Final campaigns for 27 Nov. Namibia elections
  • South Africa state capture inquiry continues

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

  • US officials meet with Libya’s Haftar amid push to end Tripoli offensive
  • Moroccan court jails rapper for insulting police
  • Vedanta warns it may have to process ore outside South Africa
  • 2 killed in Congo after protesters torch UN buildings over massacre
  • Africa Oil – Angolan spot cargoes offered, Nigerian strong
  • Malawi clinches $43 mln from IMF credit programme
  • Cameroon’s main opposition party to boycott February elections
  • South Africa’s big supermarkets told to drop exclusivity clauses in mall leases
  • US recalls ambassador from South Sudan after unity govt failure
  • South Africa’s rand slips back into range as trade jitters resurface
  • Congo rape victims take to catwalk to show female strength
  • South Africa’s Checkers supermarket promises to deliver groceries in an hour
  • Africa urged to diversify export markets amid US-China trade war
  • South Africa at risk unless it rapidly reforms economy – IMF
  • Ivory Coast issues 7-yr 150 bln CFA franc ($255 mln) bond
  • Kenya central bank cuts loan rate to 8.5% for first time in over a year
  • South Africa’s RBPlat concludes 5-yr wage deal with unions
  • Egypt’s central bank governor appointed for second term – state media
  • Ivory Coast 2019/20 cocoa port arrivals seen at 607k T by Nov. 24 – exporters
  • Ethiopia vows to remove barriers to investment in mining
  • Protesters torch DR Congo mayor’s office after massacre
  • Namibian court throws out case against voting machines
  • South Africa expected to sow fewer maizae hectares than in previous season – survey
  • Nigeria’s SecureID taps into Africa’s move from cash to plastic
  • Kenya shilling weakens against the dollar amid end-month demand
  • Uganda shilling weakens amid a rise in demand by banks and importers
  • Waste storage at Africa’s only nuclear plant brimming
  • Potash a key focus for Ethiopia’s mining push – draft document
  • South Africa blocks arms sales to Saudi & UAE in inspection row
  • South Africa’s Pepkor to close loss-making Zimbabwe business
  • South Africa’s Sasol expects H1 profit to slump by at least 20%
  • South Africa’s Pepkor FY profit rises 14.5%

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

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