macroafricaintel Daily Brief | 15 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks tread water ahead of signing of initial US-China trade deal
  • US-China Phase 1 trade deal to be signed later (1630GMT) on Weds [@macroafrica: Market neutral to negative event with tariffs still in place]
  • Tariffs to stay until there is Phase 2 agreement: Mnuchin
  • Wall St stocks flat; Yields inch lower; FX subdued except yuan

Oil Markets

  • Oil prices slip on concerns US-China trade deal may not boost demand
  • US output to rise in 2020 more than previously expected – EIA
  • Brent down 0.3% at $64.28 per barrel (0206GMT)
  • WTI down 0.4% at $58.00

Precious metals

  • Gold inches up as US says China tariffs in place till Phase 2 deal
  • Spot gold up 0.1% at $1,547.23/oz. (0117GMT)
  • US gold futures up 0.2% at $1,547.80/oz.

Grains

  • Wheat up for 2nd session, trades near 1-1/2 year high
  • Wheat futures up 0.3% at $5.70 per bushel (0156GMT)
  • Corn futures unchanged at $3.89 per bushel
  • Soy futures up about 0.1% at $9.42-3/4 per bushel
  • Rice futures up 0.1% at $13.37 per hundredweight

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

  • Mozambique’s Nyusi inauguration; South Africa’s Ramaphosa attending
  • Nigeria’s armed forces remembrance day; Buhari to preside over official event
  • South Africa retail sales Nov-19 [fcst. -0.2% yy, prev. 0.3%]
  • South Africa central bank MPC meets on interest rates (14-16 Jan)
  • Egypt, Ethiopia & Sudan meet over Nile dam in Washington DC; 15 Jan deadline for agreement
  • South Africa state capture inquiry continues

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

  • Sudan’s airspace is open, sovereign council chief says
  • Natural gas pumping from Israel to Egypt to start on Wednesday – statement
  • Sudan quells revolt of former spy service men after clashes
  • Sudan govt forces retake all intelligence buildings in capital – military source
  • World Court to rule on emergency measures in Myanmar genocide case on Jan. 23 – Gambia
  • Africa Oil – Nigerian offered in window, Angolan programme expected
  • South Africa will embrace private power generation, Ramaphosa says
  • South Africa rand slips as Woolworths, Old Mutual lead stocks higher
  • Kenya’s president reshuffles cabinet amid rift with deputy president
  • Turkey won’t shun “teaching a lesson” to Libyan commander Haftar if attacks continue
  • Germany invited Libya’s Serraj, Haftar to conference
  • Russia: Libya’s Haftar is taking 2 days to discuss ceasefire deal – Ifax
  • Reprieve for South Africa’s Old Mutual as court rules against fired CEO
  • Gunfire head in Sudanese capital – witness
  • South Africa’s Woolworths appoints Roy Bagattini CEO
  • Morocco 2020 economic growth seen rising to 3.5%
  • Kenya’s president reshuffles cabinet, confirms Yatani as finance minister
  • Turkey says ready to act against Haftar if Libya attacks continue
  • Kenyan shilling firms against the dollar
  • South African consumer confidence remains near 2-yr low – survey
  • South African court upholds Old Mutal appeal against reinstatement of ex-CEO
  • Kenya’s president urges the central bank to prevent predatory lending
  • Libya’s Haftar leaves Moscow without signing ceasefire – TASS
  • Eastern Libyan forces says ready and determined to achieve victory – website

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

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