macroafricaintel Daily Brief | 20 Aug

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

Global Markets

  • Asia stocks, oil buckle on uncertain US recovery
  • Equities weak across Asia in wake of Fed minutes
  • China tensions, coronavirus weigh on some markets
  • Oil falls, gold rises as sentiment weakens
  • Brent down 0.8% at $45.03, gold up 0.5% at $1,939.28/oz.

Oil Markets

  • Oil eases on demand risks, US stockpile data
  • Brent down 0.6% at $45.09 a barrel (0049GMT)
  • WTI down 0.7% at $42.62

Precious metals

  • Gold rebounds as recovery fears resurface post Fed minutes
  • Spot gold up 0.9% at $1,946.09/oz. (0307GMT)
  • US gold futures down 0.9% at $1,952.90/oz.

Grains

  • Soybeans ease from 7-mth high, US dryness limits decline
  • Soybean futures down 0.1% at $9.13-1/2 a bushel (0307GMT)
  • Corn down 0.2% at $3.39-1/4 a bushel
  • Wheat down 0.2% at $5.21 a bushel

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

  • ECOWAS heads of state & govt meet virtually on Mali
  • Bank of Botswana decides interest rates [fcst. 4.25%, prev. 4.25%]
  • Nigeria finance minister Ahmed et al. appear before Senate committee on 2012-23 MTEF
  • Ghana presidential frontrunners Akufo-Addo & Mahama tour regions
  • South Africa state capture inquiry continues
  • Kenya’s Kenyatta cabinet reshuffle back in focus
  • 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

  • Mali protest leader steps back as coup leaders promise election
  • Ivory Coast finance ministry suspends financial ties with Mali
  • South Sudan central bank says foreign exchange reserves have run out
  • Supporters of Egypt’s Sisi set to dominate newly created Senate
  • After meeting Mali mutineers, protest leader Dicko to step back from politics
  • OPEC+ presses for compliance with oil cuts
  • At least 45 African migrants die off Libya in worst shipwreck of 2020 – UN
  • UN Security Council condemns mutiny in Mali, urges soldiers to return to barracks
  • France demands immediate release of Mali’s ousted president
  • Equatorial Guinea reappoints Prime Minister Asue after govt resignation
  • Mauritius to scuttle oil-spill tanker, Japanese owner apologises
  • Zambia vice president tests positive for Covid-19
  • South Sudan central bank says it has run out of FX reserves
  • Mali’s gold miners carry on digging despite coup, shares hit
  • Nespresso launches coffee range sourced from eastern Congo
  • Egypt says from Sept all those entering country must show virus test results
  • South African fraudster tricks credit bureau Experian into handing over data
  • Egypt electoral list dominated by Sisi supporters wins Senate election
  • EU wheat consolidates as traders weigh Algeria purchase
  • South Africa’s Eskom extends power cuts into Thursday
  • AU suspends Mali’s membership after coup
  • Russia’s Novak calls for strict OPEC+ deal compliance
  • EU says Mali coup crisis could destabilize whole region
  • South Africa investigates Covid-linked corruption of $290 mln
  • Sierra Leone court freezes Steinmetz’s Octea assets
  • Stored crude, condensate could be shipped from shuttered Libya ports
  • Sudan fires foreign ministry spokesman following Israel remarks
  • West Africa’s G5 Sahel force calls for release of Mali president
  • South Africa’s Denel made $99 mln annual loss, ministry says
  • Mining companies in Mali say gold production continues despite crisis
  • Kenya woman’s ordeal highlights newly identified sex trafficking route
  • South Africa game reserve turns to meat sales to survive pandemic
  • China, on Mali president resignation, says opposes regime change by force
  • South Africa’s Truworths flags full-year profit decline, impairs Office
  • Mali soldiers promise civilian transition after president’s ouster
  • Saudi King Salman, Nigeria president discuss oil market – SPA

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

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