macroafricaintel Daily Brief | 1-2 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares rise on China’s policy easing, trade deal hopes
  • MSCI Asia ex-Japan +0.35%
  • China blue-chips jump after PBOC announces RRR cut
  • Trump says Phase 1 trade deal to be signed Jan. 15.

Oil Markets

  • Oil climbs on US-China trade optimism, Middle East tensions
  • Brent to hold near $63 in 2020, WTI around $57 – poll
  • US crude stocks fell by 7.8 mln bbls last week – API
  • Brent up 0.3% at $66.21 a barrel (0130GMT)
  • WTI up 0.3% at $61.27

Precious metals

  • Gold prices edge higher on soft dollar
  • Spot gold up 0.1% at $1,518.60/oz. (0043GMT)
  • US gold futures down 0.1% at $1,521.60/oz.

Grains (31 Dec)

  • US grain futures notch yearly rises on China demand hopes
  • Soybean futures ended up 3 cents at $9.55-1/2 a bushel; up 6.8% for 2019
  • Wheat futures up 2-3/4 cents at $5.58-3/4 a bushel; up 11% for 2019
  • Corn slipped ½ cent to $3.87-3/4 a bushel; up 3.4% for 2019

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

  • South Africa ABSA manufacturing PMI Dec-19 [prev. 47.7]

Key African events or data releases yesterday (31 Dec – 1 Jan) & early a.m today

  • Ex-Guinea Bissau PM Embalo wins presidency; opponent disputes vote
  • Tunisia’s designated PM says he has formed a govt
  • More than 20 dead, many displaced after violence in Sudan’s West Darfur
  • Turkey may not send forces to Libya if conflict eases
  • Loser in Guinea Bissau election cries foul, will contest result in court
  • New Year brings hope, grief to Somali family devastated by bomb blast
  • Angola hits ‘Princess’ dos Santos with asset freeze
  • Arab League warns against deployment of foreign fighters in Libya
  • Egypt’s Stock Exchange targets IPOs of 3-4 private companies in 2020
  • Egypt’s M2 money supply up 13.16% y/y in November – c.bank
  • South Africa’s rand weathers risks to end 2019 higher, stocks down
  • Kenya’s economy expanded 5.1% y/y in Q3 2019
  • Ivory Coast street militia leader sentenced to 20 years for role in civil war
  • Kenya shilling trades steady on remittance flows
  • Kenyan inflation rises to 5.82% y/y in December, stats office says
  • Africa Oil – Angolan differentials steady
  • Seychelles’ y/y GDP growth slows to 3.8% in Q3 2019 – stats office
  • Kenya’s y/y GDP growth slows to 3.8% in Q3 2019 – stats office
  • South Africa’s credit growth slows to 6.6% y/y in Nov

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

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