macroafricaintel Daily Brief | 20 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks digest meaty gains, sterling starved for love
  • MSCI Asia ex-Japan up slightly; up 1.2% week so far
  • Nikkei up 0.1%, up 2.5% month thus far
  • £ huddled at $1.3017, down from $1.3514 Boris win peak

Oil Markets

  • Oil prices hold near 3-mth highs on US-China trade deal progress
  • Brent, WTI hover near highest levels since mid-Sept
  • Brent up 2 cents at $66.56 a barrel (0145GMT)
  • WTI down 9 cents at $61.09

Precious metals

  • Gold inches lower on trade optimism; all eyes on US GDP data
  • Spot gold down 0.1% at $1,478/oz. (0135GMT)
  • US gold futures down 0.2% at $1,482/oz.

Grains

  • Soybeans firm, set to gain 2% for the week
  • Soybean futures up 0.2% at $9.26 a bushel
  • Corn futures up 1.5% for the week
  • Wheat futures up 2.5% for the week

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

  • France’s Macron visits Ivory Coast, Niger; 20-22 Dec
  • 17th annual Rwanda national dialogue (“Umushyikirano”); 19-20 Dec
  • ECOWAS heads of state meet on single currency, etc. in Abuja; 21 Dec

Key African events or data releases yesterday & early a.m today

  • Sudanese celebrate uprising anniversay, demand justice for victims
  • Africa Oil – Nigerian OSPs raised, programmes begin to emerge
  • AngloGold aims to produce 350,000 – 400,000 oz of gold a year from Ghana
  • South Africa’s rand firms, stocks pause 3-day winning streak
  • Libya’s internationally recognized govt ratifies security deal with Turkey
  • Libya’s GNA activates security MoU agreed with Turkey – statement
  • Algeria names Sabri Boukadoum interim PM – state TV
  • South Africa’s Boris the BabyBot opens children’s eyes to digital privacy
  • South Africa arrests 2 former Eskom managers for alleged $50 mln fraud
  • Russia’s Putin seeks end to Libya conflict and talks between two sides
  • Algeria swears in new president, protest movement debates response
  • Kenya shilling, Zambian kwacha seen strengthening; in week ahead
  • Japan’s Toyota Tsusho wins contract to build Egyptian vehicle terminal
  • IMF approves lending program with Equatorial Guinea
  • Kenyan shilling strengthens to 8-mth high
  • Ethiopia to get $140 mln in loans from Saudi Arabia
  • Uganda shilling little-changed amid thin importer demand
  • Zambia suspends 15% export duty on gemstones – minister
  • South Africa’s rand nearly unchanged after Fitch’s ratings decision

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

 

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