macroafricaintel Daily Brief | 28 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares waver, Hong Kong tensions spoil festive mood after upbeat US data
  • Hong Kong law dents optimistic mood
  • Australian shares briefly touch record high, then retreat
  • Currencies in risk-off mode
  • US markets closed for holiday

Oil Markets

  • Oil drops as US inventory build, record output rekindles supply worries
  • Brent down 0.3% at $63.90 a barrel (0141GMT)
  • WTI down 0.4% at $57.90

Precious metals

  • Gold gains as US bill backing HK protesters fuels trade deal doubts
  • Spot gold up 0.2% at $1,457.60/oz. (0132GMT)
  • US gold futures up 0.2% at $1,456.30/oz.

Grains (27 Nov)

  • Soybeans steady as traders weigh chances for US-China trade deal
  • Hopes of US-China trade deal lend some support to soybeans
  • Corn, wheat slip in run-up to Thanksgiving closure
  • South American crop weather looks favourable – analysts
  • Soybean futures down 0.1% at $8.83-1/2 a bushel (1740GMT)
  • Corn futures down 0.8% at $3.75-1/4 a bushel
  • Wheat down 0.5% at $5.28-1/2 a bushel

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

  • South Africa producer inflation Oct-19 [fcst. 2.9% yy, prev. 4.1%]
  • African continental peace summit in Niamey
  • Namibia general election results expected

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

  • Nigeria meets with West African neighbours on border closure
  • Eastern Libyan forces regain control of El Feel oilfield – LNA
  • Nigeria meets with West African neighbours on border closure
  • 2 Guinea-Bissau ex-premiers through to presidential runoff
  • New sex offenders register may deter Nigerians with ‘no conscience’
  • Billion-dollar LNG project in southern Mozambique expected in 2020
  • South African govt working to ensure SAA’s survival
  • Africa Oil – More Nigerian progs emerge, new tender issued
  • Egypt sentences top militant suspect Ashmawy to death
  • South Africa’s rand firms on risk-on mood, stocks inch up
  • As France mourns 13 soldiers, top general says full victory in Africa impossible
  • French defence minister heads to Mali to honour troops killed in helicopter crash
  • Appeals judges uphold sentence for Congolese ex-vice president Bemba
  • Fastjet looks to sell Zimbabwe business in effort to survive till 2021
  • Kenyan govt says approves set price for household heating tariffs
  • Kenyan shilling weakens on increased importer demand
  • Namibians vote in tight contest clouded by economic crisis
  • South Africa business confidence improves after 2 years –survey
  • Former Guinea-Bissau PM’s through to run-off in presidential vote
  • In rain-short Niger, wasps deployed in war on crop-munching worm
  • Namibia arrests former justice minister in fishing scandal
  • Uganda shilling unchanged as banks and importers trim appetite
  • Egypt’s Rameda Pharmaceutical to float 49% stake on EGX
  • Botswana’s GDP to slow to 3.5% in 2019 – IMF
  • South Africa’s Woolworths posts 2.2% rise in 20-week sales
  • Shrinking lake in Mali spells end of line for family of fishermen
  • France to start probing black boxes from fatal Mali helicopter crash
  • Kenya parliament body cuts finance ministry’s request for extra spending

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

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