macroafricaintel Daily Brief | 9 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares erase losses as Mideast tensions ease
  • [Oil up after sharp fall on Wed.], stocks rise
  • Safety rush turns to relief rally as Mideast tension ebbs
  • Gold & yen give back gains

Oil Markets

  • Oil edges up after plunge, as market recovers poise
  • Brent up 0.8% at $65.99 a barrel (0109GMT); after tumbling 4.1% on Wed.
  • WTI up 1% at $60.22; after nearly 5% drop on Wed.

Precious metals

  • Gold inches up as investors still wary of US-Iran conflict risk
  • Spot gold up 0.3% at $1,560.36/oz. (0300GMT)
  • US gold futures flat at $1,560.50/oz.

Grains

  • Soybeans flat ahead of USDA report
  • Soybean futures steady at $9.47-3/4 a bushel (0201GMT)
  • Corn futures unchanged at $3.84-1/4 a bushel
  • Wheat futures up 0.2% at $5.53-3/4 a bushel

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

  • Ethiopia’s Abiy Ahmed in Guinea on state visit
  • South Africa manufacturing production Nov-19 [fcst. -0.6% yy, prev. -0.8%]
  • South Africa SACCI business confidence Dec-19 [prev. 92.7]
  • Kenya’s Nairobi county assembly special sitting on Sonko crisis; county executive meeting also called
  • South Africa’s Ramaphosa in Northern Cape for ANC Pre-Jan. 8 mass mobilization drive

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

  • Turkey, Russia seek Libya ceasefire on Jan. 12 as rivals clash
  • Militant attack in Nigerian town kills 20 soldiers, displaces 1,000 residents
  • Norway to take 600 Libya evacuees from Rwanda camp
  • Libya’s NOC Sanalla says production rates reached 1.174 mln bpd – NOC Facebook
  • Niger urged to work with traffickers to curb violence
  • US imposes sanctions on South Sudan vice president
  • Sudan seizes assets of Bashir’s former ruling party
  • South Africa’s Eskonm cuts power for 2nd night in a row
  • Africa Oil – More Angolan crude trades, but cargoes linger
  • EU pushes Libya’s PM Serraji for ceasefire, warns on Turkey deal
  • South African edges up after Iran-US fears abate
  • Libyan PM Serraj to meet Italy PM – Italian govt source
  • Algeria names panel to amend constitution as protests persist
  • Stowaway found dead at Paris airport after Ivory Coast flight – airline
  • Rival Libyan forces clash west of Sirte
  • EM stocks fall as Iran retaliates against US; South African rand firms
  • Kenyan shilling holds steady against dollar
  • Loud explosion heard in Somalia’s Mogadishu at a busy junction
  • South Africa’s net foreign reserves rise to $44.897 bln in December

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

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