macroafricaintel Daily Brief | 23 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares hold near 18-mth highs in holiday lead-up
  • MSCI ex-Japan up nearly 5% this month
  • E-mini futures at all-time highs, up 2.7% this month
  • Currencies tread water, Sterling near 3-wk lows

Oil Markets

  • Oil steady amid optimism US-China close to signing trade deal
  • Brent down 4 cents at $66.10 a barrel (0100GMT)
  • WTI down 4 cents at $60.40

Precious metals

  • Gold holds steady in holiday-thinned trading
  • Spot gold up 0.1% at $1,479.05/oz. (0106GMT)
  • US gold futures up 0.1% at $1,482.90/oz.

Grains

  • Wheat, soybeans edge higher as trade uncertainty lingers
  • Wheat futures up 0.2% at $5.43-1/4 a bushel
  • Soybean futures up 0.1% at $9.29 a bushel
  • Corn futures flat at $3.87-3/4 a bushel

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

  • Ghana parliament to vet chief justice nominee
  • Nigeria manufacturing PMI Dec-19 [prev. 59.3]
  • Nigeria non-manufacturing PMI Dec-19 [prev. 60.1]

Key African events or data releases over the weekend & early a.m today

  • Eastern Libyan force warns against transporting military equipment in civilian planes
  • Egypt’s ex-military chief of staff releases after near 2-yr detention
  • Erdogan says Turkey will increase military support to Libya if necessary
  • Egypt, Ethiopia, Sudan views come closer on giant Nile dam – Sudanese minister
  • Egypt to being gas imports from Israel by mid-Jan 2020
  • Egypt reinstates information ministry in cabinet portfolio reshuffle
  • Somali militants claim responsibility for attack outside Somali hotel: spokesman
  • Eastern Libyan forces seize ship with a Turkish crew – spokesman
  • West Africa renames CFA franc but keeps it pegged to euro
  • France kills 33 militants in Mali raid – president
  • Revamped West African currency to be launched in 2020 – Macron
  • West Africa economic bloc agrees changes to CFA franc with France – Ivorian president
  • 5 arrested in Ethiopia for arson attack on mosques – state govt
  • Locust invasion threatens Somali farmers with starvation
  • US says concerned as Libyan conflict turning bloodier with Russian mercenaries – official
  • Turkey’s parliament ratifies security accord with Libya – report
  • Merck says ebola vaccine to be available at lowest access price for poor nations
  • Tanzanian police arrest activist whose employers thought had been abducted
  • Cameroon grants special status to Anglophone regions
  • Africa Oil – Angolan term allocations, Nigerian programmes emerge
  • South African Airways has reasonable chance of survival – rescue specialist
  • South Africa’s rand flat, stocks subdued in thin holiday trade
  • Morocco’s CPI slows to 0.4% y/y in November – planning agency
  • eSwatini opposition leaders, activists targeted in police raids
  • Zimbabwe to spend $133 mln on maize subsidies after drought
  • Algerians protest after new president inaugurated
  • 4 MSF workers detained in Central African Republic – MSF
  • First ebola relapse recorded in Congo outbreak, WHO says
  • Security worker killed in attempted robbery at Harmony Gold plant in South Africa
  • Kenya shilling firms, helped by remittances, subdued importer demand
  • Water around Rio Tinto’s Madagascar mine is high in lead, uranium – study
  • Russia concerned by prospect of Turkey sending troops to Libya – Ifax
  • AngloGold aims to produce 350,000 – 400,000 oz of gold a year from Ghana mine
  • Tanzania secures $272 mln African Development Bank loan for new airport
  • Egypt’s ‘history of humanity’ monuments face climate change threat
  • South Africa’s treasury says working to step up timeline for Eskom restructuring
  • Ethiopia launches first satellite into space

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

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