macroafricaintel Daily Brief | 9 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks pulled higher by Wall St jobs rally but China caution prevails
  • US job data shows unexpected strength, calms recession fears
  • China Nov exports fall; import growth may signal demand recovery
  • Oil near multi-month high as OPEC+ agrees on deeper output cuts

Oil Markets

  • Oil prices stumble on weak China exports hangover
  • Brent down 0.5% at $64.06 a barrel (0055GMT)
  • WTI down 0.6% at $58.85

Precious metals

  • Gold rises as prospects of US tariffs lift safe-haven demand
  • Spot gold up 0.1% at $1,460.40/oz. (0158GMT)
  • US gold futures flat at $1,464.90/oz.

Grains

  • Soybeans rise for 5th day on tariff waivers by China
  • Soybean futures up 0.4% at $8.93-1/4 a bushel (0132GMT)
  • Corn futures up 0.3% at $3.77-3/4 a bushel
  • Wheat futures down 0.2% at $5.23-1/4 a bushel

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

  • 9th African, Carribean & Pacific Group of States (ACP) summit in Nairobi, Kenya; 9-10 Dec
  • Ethiopia’s Abiy heads to Oslo to receive Nobel Peace Prize
  • Kusi ideas festival: “The next 60 years in Africa” in Kigali; 8-9 Dec
  • Nigeria’s Osinbajo due in UAE, to meet Abu Dhabi Crown Prince

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

  • Sudan says it has reduced troops in Yemen to 5,000
  • South African Airways rescue aimed at saving jobs – minister
  • Congo authorities say ebola survivor falls ill a second time
  • 4 dead after rock collapse at South African gold mine
  • Egypt’s fuel subsidy bill drops by 69% year on year July – Sept – minister
  • Kenya police officers among 8 killed in bus attack
  • Algerian protesters march in last Friday rally before election
  • Mauritanian coast guard intercepts boat carrying 180 migrants – IOM
  • Nigeria files fraud charge in bid to overturn nearly $10 bln penalty
  • Africa Oil – Buyers await Nigerian discounts as gasoline cracks slip
  • President of South African agricultural lobby group resigns
  • South Africa’s power cuts may last the weekend if rain persists
  • 2 Tunisian parties reject coalition role
  • Kenya arrests gold-loving Nairobi governor on suspicion of corruption
  • Nigeria activist Sowore re-arrested hours after has was freed – lawyer
  • Turkey says Greek expulsion of Libyan envoy is ‘outrageous’
  • South African Airways to restructure under ‘business rescue’
  • South Africa’s Eskom tells customers about more power cuts
  • Uganda shilling holds steady against the dollar
  • Greece to expel Libyan ambassador over Turkey-Libya accord
  • IMF approves $247 mln reform loan to Angola
  • Kenyan shilling extends gains, helped by offshore investor flows
  • Sime Darby to sell Liberia plantation to local manufacturer
  • Kenya public prosecutor orders arrest of Nairobi governor on suspicion of economic crimes
  • South Africa’s net foreign reserves fall to $44.4 bln in Nov
  • Burundi ruling party militia forcing citizens to fund 2020 vote – rights group
  • Power cuts to continue in South Africa as Eskom units perform at low levels

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

 

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