macroafricaintel Daily Brief | 11 Aug

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

Global Markets

  • Asian stocks shrug off Sino-US tension to resume gains
  • Dollar slipping and stocks on the march
  • MSCI AxJ +1%, Nikkei +1.7%, Hang Seng +2.2%
  • US-China trade talks eyed
  • Brent last up 0.4% at $45.16

Oil Markets

  • Oil firms on US stimulus hopes, Asian demand recovery
  • Brent up 0.2% at $45.06 a barrel (0027GMT)
  • WTI up 0.3% at $42.08

Precious metals

  • Gold slips as dollar bounces, focus on US-China row
  • Spot gold down 0.5% at $2,017.98/oz. (0234GMT)
  • US gold futures down 0.6% at $2,028.10/oz.

Grains

  • Corn jumps 1% on USDA crop condition report
  • Corn futures up 0.9% at $3.25-3/4 a bushel (0056GMT)
  • Soybeans up 0.1% at $8.74-1/2 a bushel
  • Wheat up 0.5% at $4.93-1/2 a bushel

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

  • South Africa manufacturing production Jun-20 [fcst. -51.6% yy prev. -49.4%]
  • South Africa state capture inquiry continues
  • Key African countries on lockdown or restricted; subdued economic activity
  • Covid-19 updates by authorities across the continent

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

  • At least 10 dead in Ethiopia protests over autonomy – health officials
  • Tunisia PM designate to form techncratic govt without parties
  • At least 6 killed as Somalia security forces put out prison uprising
  • Mauritius must brace for ‘worst case scenario’ after oil spill, says PM
  • Islamic court in northern Nigeria sentences man to death for blasphemy
  • Egypt’s annual urban consumer price inflation fell to 4.2% in July – CAPMAS
  • France helps hunt for killers of aid workers in Niger
  • Namibia to auction fishing quota to raise money for Covid-19 medicines
  • Aid group ACTED says 4 women, 4 men killed in Niger
  • Army says east Congo militia killed 16 villagers
  • Algeria court jails journalist three years
  • Ivory Coast cocoa outlook good despite below-average rain – farmers
  • Anxious Mauritians uses hair to stem Japan ship’s oil spill
  • France & Niger determined in battle against terrorists in Sahel – Le Drian
  • France’s counter-terrorism prosecutor investigates Niger killings
  • Kenya’s famed wildebeest migration begins without foreign tourist crowds
  • Residents fight upscale evictions in Kenya conservation push
  • Egypt mulls law to protect women’s identities as MeToo movement escalates

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

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