By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asian shares hover around 3-wk highs on Chinese support measures
- MSCI ex-Japan ticks up , Japan’s Nikkei stumbles
- Chinese shares on firm footing on stimulus hopes
- Japan’s GDP shrinks at fastest pace in 6 yrs
- Singapore downgrades growth outlook due to coronavirus
Oil Markets
- Oil prices slip ahead of data pointers on impact of coronavirus on demand
- Global oil demand could fall by 435,000 bpd in Q1 – IEA
- Russia may support further OPEC+ cuts on growing oil glut
- Brent down 33 cents at $56.99 a barrel (0121GMT)
- WTI down 13 cents at $51.92
Precious metals
- Gold holds near 2-wk high on uncertainty over virus impact
- Spot gold little changed at $1,582.27/oz. (0226GMT)
- US gold futures down 0.1% at $1,585.40/oz.
Grains (15 Feb)
- Corn, soy, wheat futures end lower ahead of US holiday weekend
- Wheat futures settled up 0.1% at $5.42-3/4 a bushel
- Corn futures settled down 0.5% at $3.77-3/4 a bushel
- Soybeans futures settled down 0.4% at $8.93-3/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- US Secretary of State Pompeo tours Africa (Senegal, Angola & Ethiopia); 16-19 Feb
- Nigeria inflation Jan-20 [fcst. 12.1% yy, prev. 12.0%]
- Bank of Zambia MPC meeting; 17-18 Feb [fcst. 11.5% , prev. 11.5%]
- Protests on insecurity expected in Nigeria
- South Africa state capture inquiry resumes
Key African events or data releases over the weekend & early a.m today
- Netanyahu says Israeli airliners have started overflying Sudan
- Burundi opposition picks presidential contender as UN warns of rights abuses
- UN says Libya arms embargo a ‘joke’, demands accountability
- Zimbabwe inflation falls to 2.23% m/m in January
- Armed gang kills at least 30 in northwest Nigeria, police say
- Tunisia talks on cabinet press on amid risk of new election
- Tunisia PM designate proposes new govt, negotiations to continue
- Libya faces financial crisis due to oil blockade – PM
- Turkey’s Erdogan says Russia managing Libya conflict “at highest level” – NTV
- Over 6,000 bodies found in Burundi’s mass graves
- South Sudan cuts number of states from 32 to 10, unlocking peace process
- Egypt agrees with five energy firms on exploration in Mediterranean – minister
- Attackers kill 31 in Mali village, after massacre last year at same site
- Turkey says Libya’s Haftar violating ceasefire, must be stopped
- South Sudan cuts number of states from 32 to 10, unlocking peace process
- Egypt’s jobless rate drops to 8% in fourth quarter 2019 – state agency
- Egypt confirms first coronavirus case, says affected person is a foreigner
- In new attack on site of massacre, 21 killed or missing in Mali
- Africa Oil – Spot trade grinds to a halt
- South Africa’s rand firmer after Ramaphosa’s speech, stocks flat
- First Quantum says no expansion at Zambia copper mine until 2024
- Algerians keep up protests a year after demonstrations began
- Ethiopia to hold parliamentary elections on Aug. 29
- Nigeria’s military razed villages in war on insurgents – Amnesty
- South African court rejects union bid to block SAA job cuts
- Kenya’s KCB sees loan growth tripling to 15% after rate cap appeal
- South African public sector union says wage deal not open for review
- Nigeria to pick advisers for $3.3 bln eurobond via open bids – OMO
- Ramaphosa’s speech underscores weak South Africa credit outlook – Fitch
- No reform, no cash: majors hold out for new Nigerian oil law
- eSwatini’s economy likely grew 1.4% in 2019 – finin
- Zimbabwe court clears opposition official facing subversion charges
- Zimbabwe police fire teargas as court rules on opposition leader’s subversion case
- Tough livestock farmers touched by South Africa drought donations
- South Africa’s central bank moves to sell stake in African Bank
- Lenders cheered as Kenya binged on medical equipment. Did patients get help?
- African Development Bank says World Bank chief’s criticism “misleading”
N.B. Full stories of above headlines are available on Reuters
