macroafricaintel Daily Brief | 22 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

  • China stocks tumble on virus outbreak, but regional markets steady
  • Markets on edge amid fears of China virus spreading
  • Asian stocks, currencies mostly steady after risk-off shift
  • WHO meets Wednesday to consider severity of virus outbreak
  • Oil recovers from Libyan supply jitters

Oil Markets

  • Oil falls again as ample global supply seen offsetting Libyan outage
  • Brent down 0.2% at $64.46 a barrel (0119GMT)
  • WTI down 0.3% at $58.22

Precious metals

  • Gold eases as markets assess risks from China virus
  • Spot gold down 0.3% at $1,553.27/oz. (0133GMT)
  • US gold futures down 0.3% at $1,553.30/oz.

Grains

  • Soybeans edge lower, linger near 1-mth low
  • Soybean futures down 0.1% at $9.15-1/4 a bushel (0116GMT)
  • Corn futures up 0.2% at $3.88-1/4 a bushel
  • Wheat futures down 0.2% at $5.80-1/4 a bushel

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

  • South Africa inflation Dec-19 [fcst. 3.9% yy, prev. 3.6%]
  • Bank of Ghana MPC meeting; 22-24 Jan [decision on 27 Jan]
  • South Africa ruling ANC post-NEC press briefing
  • World Economic Forum in Davos; 21-24 Jan
  • Police question Lesotho PM Thabane over ex-wife’s murder
  • Court to rule on Kenya’s Nairobi governor Sonko assault case
  • South Africa state capture inquiry continues

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

  • Australia’s FAR inks marketing deal with Glencore for Senegal’s Sangomar project
  • Trump administration plans to add Nigeria & 6 other nations to travel ban list – reports
  • Sudan doesn’t have foreign reserves to protect value of the pound – prime minister
  • Maltreated tigers and lions, rescued from Guatemala circuses, arrive in South Africa
  • Militants kill 36 civilians in Burkina Faso market attack
  • Libya’s NOC says oil operations can only be resumed by ending closures – Tweet
  • Ivory Coast leader says fears of age limit for presidential candidates unfounded
  • Angola pleads for help to claw back assets lost to corruption
  • Africa Oil – Nigerian glut appears to dwindle, offers steady
  • South African Airways cancels flights in fight for survival
  • African fintech Flutterwave gets $35 mln, partners with WorldPay
  • Angola to kick off Sonangol IPO before 2022 – minister Azevedo
  • Spain’s ACS withdraws from Inga 3 hydro project in Congo
  • Angola says has reached out to other countries in corruption crackdown
  • Weak growth outlook keeps South African rand on back foot
  • South Africa appoints new board at state nuclear firm
  • Nigeria’s Lekoil reaches deal to keep oilfield after loan fraud
  • Ivory Coast gold output up 35% in 2019 after new mine starts
  • Namibia looks to import cattle as drought decimates local herds
  • Cameroonian soldiers go on trial over shooting of women and children
  • Turkey says Libya’s Haftar must choose political solution
  • Nigeria charges ex-attorney general with financial crimes in $1.3 bln oil deal
  • South African Airways cancels some flights to Munich to save cash
  • Ugandan shilling holds steady against the dollar
  • Tunisia’s designated PM vows to tackle economic, social ills
  • 9 injured in Somali bombing flown to Turkey for treatment

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

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