Monthly Archives: September 2020

macroafricaintel Daily Brief | 30 Sep

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

Global Markets

  • Asian markets dip as investors brace for US presidential debate
  • MSCI Asia ex-Japan shares down 0.1%, Nikkei down 0.2%
  • Spot gold down 0.1% at $1,896.03/oz.
  • Brent down 0.6% at $41.03

Oil Markets

  • Oil drops 2nd day as surging coronavirus cases prompt demand worries
  • Brent down 0.6% at $41.03 a barrel (0048GMT)
  • WTI down 0.7% at $39.29

Precious metals

  • Gold inches lower on caution over Trump-Biden debate
  • Spot gold down 0.1% at $1,896.03/oz. (0034GMT)
  • US gold futures down 0.1% at $1,889.70/oz.

Grains (29 Sep)

  • Corn, soy eases as US harvest advances; USDA data awaited
  • Corn futures settled down 2 cents at $3.64-3/4 a bushel
  • Soybeans ended down 3-1/4 cents at $9.93 a bushel
  • Wheat finished down ¾ cent at $5.49-1/2 a bushel

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

  • Kenya’s Kenyatta meets France’s Macron in Paris; to sign PPP infrastructure deals
  • Central Bank of Kenya’s Njoroge briefs press on MPC decision
  • South Africa consumer inflation Aug-20 (30 Sep) [fcst. 3.7% yy, prev. 3.2%]
  • 2nd Ghana presidential debate; Akufo-Addo yet to agree to debate Mahama
  • Ghana’s ruling NPP flagbearer Akufo-Addo campaigns in Ashanti region
  • Ghana’s NDC flagbearer Mahama campaigns in Bono region
  • South Africa PSCE Aug-20 (30 Sep) [fcst. 3.5% yy, prev. 5.1%]
  • South Africa M3 Aug-20 (30 Sep) [fcst. 10.1% yy, prev. 10.5%]
  • Nigeria FX reserves Sep-20 [prev. $35.7B]
  • South Africa trade balance Aug-20 [prev. ZAR37.42B]
  • 75th session of UN General Assembly (15-30 Sep); speeches & engagements by African leaders
  • Potential constitutional crisis in Kenya in focus; 12th Oct deadline by lawyers’ body LSK for dissolution of parliament
  • Covid-19 updates by authorities across the continent

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

  • Algeria’s wheat suppliers to feel impact of Black Sea shift next season
  • Women entrepreneurs in Kenya industry struggle to access credit – study
  • Libya’s Sarir oilfield restarts production, AGOCO says
  • Zambia aims to clinch debt restructuring deal by April – finmin
  • South Africa’s SAA administrators suspend all operations until funding found
  • Zimbabwe suspects bacterial disease behind elephant deaths
  • Nigeria’s FX reserves swell by $200 mln after court ruling, central bank says
  • Ghana cocoa regulator signs $1.3 bln finance deal for 2020/21 season
  • Senegal on verge of unprecedented growth from oil, gas, president says
  • Senegal president sees growth at 13.7% by 2023 thanks to oil, gas
  • South Africa’s Covid-hit carmakers ask govt to cut taxes on new cars
  • Puzzled scientists seek reasons behind Africa’s low fatality rates from pandemic
  • Zimbabwe plans to send dead elephants’ brain tissue to US for toxin tests
  • Pandemic spurs Africa’s mobile telcos to ramp up banking bid
  • Angola energy giant made no money from oil in 2019 as debt bites
  • AngloGold prices $700 mln notes offering

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

macroafricaintel Daily Brief | 29 Sep

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

Global Markets

  • Asian markets push higher after US bounce
  • MSCI Asia ex-Japan up 0.4%, Nikkei down 0.6%
  • Australia shares up 0.2%
  • Gold up 0.2% at $1,884.77/oz.

Oil Markets

  • Oil slips as demand worries offset hopes for stimulus
  • Brent down 0.4% at $42.26 a barrel (0120GMT)
  • WTI down 0.4% at $40.43

Precious metals

  • Gold nudges up as dollar tepid ahead of Trump-Biden debate
  • Spot gold up 0.1% at $1,883.51/oz. (0313GMT)
  • US gold futures up 0.3% at $1,888.40/oz.

Grains

  • Soybeans ease as rapid pace of US harvest weighs, wheat falls
  • Soybean futures down 0.1% at $9.95 a bushel (0334GMT)
  • Corn down 0.3% at $3.65-1/2 a bushel
  • Wheat down 0.5% at $5.47-3/4 a bushel

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

  • South Africa releases Q2 labour statistics
  • Nigeria parliament resumes
  • Central Bank of Kenya decides on rates [fcst. 7.0%, prev. 7.0%]
  • Ghana’s ruling NPP flagbearer Akufo-Addo campaigns in Ashanti region
  • Ghana’s NDC flagbearer Mahama campaigns in Bono region
  • 75th session of UN General Assembly (15-30 Sep); speeches & engagements by African leaders
  • Potential constitutional crisis in Kenya in focus; 12th Oct deadline by lawyers’ body LSK for dissolution of parliament
  • South Africa state capture inquiry continues
  • Covid-19 updates by authorities across the continent
  • South Africa consumer inflation Aug-20 (30 Sep) [fcst. 3.7% yy, prev. 3.2%]
  • South Africa PSCE Aug-20 (30 Sep) [fcst. 3.5% yy, prev. 5.1%]
  • South Africa M3 Aug-20 (30 Sep) [fcst. 10.1% yy, prev. 10.5%]

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

  • Illegal money flows from Africa near $90 bln, UN study says
  • Poorer countries to get 120 million $5 coronavirus tests, WHO says
  • Nigeria would turn NNPC into LLC, amend royalties under draft oil reform bill
  • Zimbabwe accuses opposition of gun-smuggling plot
  • Nigeria’s senate confirms it received oil reform bill – senate president
  • Several hundred arrests amid protest calls in Egypt – rights group
  • Nigeria says Mali transition govt yet to satisfy regional demands
  • Togo president names Victoire Tomegah-Dogbe as prime minister
  • Kenya extends Covid curfew for 2 months but reduces hours
  • Ivory Coast rains boost cocoa main crop, farmers say
  • UN experts urge Nigeria to lift singer’s blasphemy deat sentence
  • Zambia chamber of mines says double taxation hurting investment

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

macroafricaintel Daily Brief | 28 Sep

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

Global Markets

  • Chinese stocks underpin Asia; markets wary of virus spike, US presidential debate
  • Asia ex-Japan shares gain led by China; Nikkei rises too
  • Oil prices lower on rising virus cases
  • Investors jittery ahead of US presidential debate on Tues

Oil Markets

  • Oil slips as surge in virus cases cloud demand recovery
  • Iran ramps up shipments in Sept; Libya resuming exports
  • Workers’ strike threatens Norway’s output
  • Brent down 0.6% to $41.69 a barrel (0243GMT)
  • WTI down 0.5% at $40.04

Precious metals

  • Gold inches higher on subdued dollar; Trump-Biden debate in focus
  • Spot gold up 0.1% at $1,861.02/oz. (0326GMT)
  • US gold futures down 0.1% at $1,863.70/oz.

Grains

  • Corn, soybeans rise on S.American dryness; wheat firms
  • Soybean futures up 0.2% at $10.00-3/4 a bushel (0321GMT)
  • Corn up 0.1% at $3.65-1/2 a bushel
  • Wheat up 0.2% at $5.45-1/4 a bushel

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

  • Nigerians wake up to news they have to go to work
  • Bank of Ghana decides on rates [fcst. 14.5%, prev. 14.5%]
  • Ghana’s NDC flagbearer Mahama campaigns in Bono region
  • South Africa producer inflation Aug-20 [fcst. 2.5% yy, prev. 1.9%]
  • 75th session of UN General Assembly (15-30 Sep); speeches & engagements by African leaders
  • Potential constitutional crisis in Kenya in focus; 12th Oct deadline by lawyers’ body LSK for dissolution of parliament
  • South Africa state capture inquiry continues
  • Covid-19 updates by authorities across the continent
  • Central Bank of Kenya decides on rates (29 Sep) [fcst. 7.0%, prev. 7.0%]
  • South Africa consumer inflation Aug-20 (30 Sep) [fcst. 3.7% yy, prev. 3.2%]
  • South Africa PSCE Aug-20 (30 Sep) [fcst. 3.5% yy, prev. 5.1%]
  • South Africa M3 Aug-20 (30 Sep) [fcst. 10.1% yy, prev. 10.5%]

Key African events or data releases over the weekend & early a.m today

  • Nigeria’s main unions suspend planned strike after govt talks
  • Diplomat named Mali PM, meeting regional bloc demand for civilian
  • Mali president names diplomat Moctar Ouane as interim prime minister
  • South Africa defence minister’s pay docked over use of military plane
  • Sudan rejects linking removal from US terrorism list with Israel ties
  • Suspected militants kill at least 11 in attack on convoy in northeastern Nigeria
  • Tremors felt in Cape Town after earthquake off South Africa coast
  • CAR President Touadera announces second term bid
  • Ivory Coast says new West Africa currency launch may take five years
  • Palestinians say Egypt fire killed two Gaza fishermen
  • Congo security forces thwart rebel attempt to seize mining hub
  • Armed militia kills at least 15 people in western Ethiopia
  • Togo’s prime minister & govt resign, presidency says
  • Nigeria air travel could shut as unions pledge to join strike
  • Ethiopia tells UN ‘no intention’ of using dam to harm Egypt, Sudan
  • US to provide $720 mln Syria aid & funds for Sahel, South Sudan
  • ‘Hotel Rwanda’ inspiration tells court he did not direct attacks
  • For Uganda activist, Covid curbs set new hurdle in climate fight
  • ‘Groundbreaking’ Lesotho study reveals high cost of domestic violence
  • Shell books tanker to load crude at Libya’s Zueitina oil port
  • Severe flooding in South Sudan displaces more than 600,000 – UN
  • Israel becomes new obstacle for Sudan in quest to leave US terrorism list
  • South Africa to purchase 6,800 MW of solar, wind power, says energy minister
  • Land hunters: App matches Zimbabwe’s farmers with vacant plots

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

macroafricaintel Daily Brief | 25 Sep

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

Global Markets

  • Asian shares rise on tech rally, renewed stimulus hopes
  • MSCI Asia ex-Japan +0.66%; Nikkei +0.62%
  • Asian shares posted biggest drop in more than 3 mths Thursday
  • Dollar steady after retreating from 2-mth highs

Oil Markets

  • Oil gains but heading for weekly fall over coronavirus demand concerns
  • Brent up 17 cents at $42.11 a barrel (0346GMT)
  • WTI up 16 cents at $40.47

Precious metals

  • Gold edges higher on US stimulus hopes; set for worst week in six
  • Spot gold up 0.1% at $1,869.47/oz. (0341GMT)
  • US gold futures down 0.4% at $1,870.30/oz.

Grains

  • Soybeans flat, set for first weekly loss in 7 on US harvest pressure
  • Soybeans slid 4.1% this week
  • Wheat set to end week with nearly 5% decline
  • Corn has lost more than 3% in week thus far

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

  • Mali swears in interim civilian president
  • South Africa’s Ramaphosa meets education & health workers’ union
  • Ghana’s president & NPP flagbearer Akufo-Addo tours Western North region
  • Bank of Ghana meets on rates; decision on 28 Sep [fcst. 14.5%, prev. 14.5%]
  • Ghana’s EC displays new voters register; 18-25 Sep
  • 75th session of UN General Assembly (15-30 Sep); speeches & engagements by African leaders
  • Potential consititutional crisis in Kenya in focus; 12th Oct deadline for dissolution of parliament by lawyers’ body LSK
  • South Africa state capture inquiry continues
  • Covid-19 updates by authorities across the continent

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

  • US to provide $720 mln Syria aid and funds for Sahel, South Sudan
  • Egypt cuts interest rates by 50 bps as inflation subsides
  • Ethiopia charges 2,000 over violence after singer’s killing – attorney general
  • Kenya anti-graft agency slams procurement of Covid-19 equipment
  • Kenya High Court suspends move to dissolve parliament over lack of women
  • Somalia meeting most targets on road to debt relief, says IMF
  • France opens probe into BNP Paribas over its role in Sudan
  • Ghana raises 2020/21 cocoa farmgate price by 28%
  • South Africa hit ‘Jerusalema’ inspires people worldwide to shake off Covid-19 blues
  • UK seeks to seize $39 mln from lawyer who helped corrupt Nigeria politician
  • Kenya should renegotiate China rail loan, parliamentary panel says
  • Kenya’s WTO candidate says she will focus on climate change if selected
  • Could Egypt’s MeToo movement be the tinder for a ‘feminist revolution’?
  • ‘Be prepared’: With water scarcer, Egypt pushes farmers to use much less
  • Nigeria collector hopes to boost local pride in artistic heritage amid Black Lives Matter backdrop

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

macroafricaintel Daily Brief | 24 Sep

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

Global Markets

  • Asian shares tumble as global recovery hopes falter
  • MSCI Asia ex-Japan -1.32%; Nikkei -0.74%
  • US Fed officials call for more fiscal support
  • Gold near 2-mth lows on strong greenback

Oil Markets

  • Oil falls on fuel demand growth concerns as coronavirus lingers
  • Brent down 0.7% at $41.49 a barrel (0217GMT)
  • WTI down 0.9% at $39.57

Precious metals

  • Gold falls to over 2-mth low on stronger dollar
  • Spot gold down 0.3% at $1,858.08/oz. (0049GMT)
  • US gold futures down 0.3% at $1,862.30/oz.

Grains

  • Soybeans, corn hit 1-wk low as US harvest advances
  • Soybean futures down 1.2% at $10.02-3/4 a bushel (0305GMT)
  • Corn down 0.9% at $3.65-1/4 a bushel
  • Wheat down 1.1% at $5.42-3/4 a bushel

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

  • South Africa marks Heritage Day; Ramaphosa to speak
  • Ghana’s president & NPP flagbearer Akufo-Addo tours Western North region
  • Ghana NDC flagbearer Mahama speaks on electoral process thus far
  • Nigeria’s Buhari commissions key SGR line in oil-rich region
  • Bank of Ghana meets on rates; decision on 28 Sep [fcst. 14.5%, prev. 14.5%]
  • Ghana’s EC displays new voters register; 18-25 Sep
  • 75th session of UN General Assembly (15-30 Sep); speeches & engagements by African leaders
  • South Africa state capture inquiry continues
  • Covid-19 updates by authorities across the continent

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

  • CAR MPs vote to keep Dec. 27 election on track
  • Nigeria pop star Yemi Alade wants to hleop women in new UN role
  • Ivory Coast to free opposition leader’s allies in pre-vote peace gesture, spokesman says
  • Nigeria auction bonds at lower yields after surprise rate cut
  • West Africa bloc may lift Mali sanctions soon, says envoy
  • Gambia opposition laments failure of bid to curb term limits
  • Eastern Libya forces say they killed militant group leader
  • Somalia president names newcomer Roble premier as elections loom
  • Nigeria gas tanker explosion kills at least 28
  • Three Egypt policeman, four militants killed in prison break attempt
  • Kenya’s Maasai gather for once-in-a-decade ceremony to turn warriors into elders
  • Gambia MPs reject retroactive bill curbing term limits as unlawful
  • Mali risks “economic paralysis” from post-coup embargo – trade group
  • Egypt orchestra for visually-impaired women resumes concerts amid coronavirus
  • Sudan discusses Arab-Israel peace & terrorism list with US – statement
  • First tanker to load crude at Libya’s Hariga port since January
  • Mozambique asks EU for help in tackling insurgency
  • Tanker to enter Libya’s Hariga port, load 1 million barrels of oil
  • Nigeria’s Buhari to send long-awaited oil reform bill to Senate – sources
  • Kenya harnesses fly larvae’s appetite to process food waste
  • China’s BGI wins 1.5 mln coronavirus test kit order from Ethiopia
  • South Africa set for wave of equity fundraising as banks shun risk

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

macroafricaintel Daily Brief | 23 Sep

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

Global Markets

  • Asian stocks struggle to build on Wall Street gains, dollar rises
  • MSCI AxJ index trades either side of flat
  • Dollar strength points to persistent caution
  • Brent at $41.34, gold steady at $1,900

Oil Markets

  • Oil down after US crude inventories rise against expectations
  • Brent down 0.7% at $41.42 a barrel (0347GMT)
  • WTI down 0.9% at $39.46

Precious metals

  • Gold loses sheen as robust dollar weighs
  • Spot gold down 0.2% at $1,894.69/oz. (0348GMT)
  • US gold futures down 0.5% at $1,898/oz.

Grains

  • Soybeans slips for third day on US harvest pressure, wheat eases
  • Harvest-friendly US weather to boost soybean, corn supplies
  • Soybean futures down 0.2% at $10.17-1/2 a bushel (0326GMT)
  • Corn down 0.3% at $3.68 a bushel
  • Wheat down 0.4% at $5.56 a bushel

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

  • Bank of Mauritius decides interest rates [fcst. 1.85%, prev. 1.85%]
  • Ghana NDC flagbearer Mahama briefing on voters register expected
  • Ghana health workers continue strike
  • Bank of Ghana meets on rates; decision on 28 Sep [fcst. 14.5%, prev. 14.5%]
  • Ghana’s EC displays new voters register; 18-25 Sep
  • 75th session of UN General Assembly (15-30 Sep); speeches & engagements by African leaders
  • South Africa state capture inquiry continues
  • Covid-19 updates by authorities across the continent

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

  • Nigeria’s main unions to strike over petrol, power price hikes
  • Egypt’s Sisi committed to ridding Libya of militia, regional interference
  • Ivory Coast ruling party says will hold election with or without opposition
  • Glencore says DRC Kamato Copper Company ramping up to full production
  • Macron tells Mali junta to hand power back to civilians quickly
  • Cameroon opposition say one killed in protest against veteran ruler
  • Zimbabwe to gradually re-open schools from Oct 26
  • France’s Macron says working for new Libya meeting to solve crisis
  • Uganda’s public debt surges in coronavirus crisis, central bank says
  • South Africa’s rand recovers after sell-off, stocks slide
  • Libya’s NOC says output to rise as it seeks to revive oil industry
  • Kenya’s parliament to challenge dissolution bid over lack of women
  • Nigeria’s central bank cuts benchmark rate to 11.5% in unexpected move
  • Ivory Coast to boost cocoa processing with 2 new factories
  • Libya’s NOC lifts force majeure at Zueitina oil terminal
  • Angola’s Sonangol reports EBITDA of $4.8 bln in 2019 – statement
  • Cameroon police break up opposition protests with tear gas, water cannon
  • East Mediterranean states formally establish Egypt-based gas forum
  • Insurgency in Mozambique threatens food security, says World Food Programme
  • Coronavirus accelerates Nigeria’s digital banking push
  • Meet the woman driving a motorbike taxi in eastern Congo
  • South Africa’s rand falls again on second wave infection fears
  • Turkey says EU sanctions on Turkish firm over Libya embargo show bias

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

macroafricaintel Daily Brief | 22 Sep

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

Global Markets

  • Stocks down on fresh lockdown worries, banking sell-off; dollar rises
  • Asian shares extend losses for 2nd consecutive day
  • Banking sector sell-off continues on dirty money reports
  • Fresh lockdown worries, stimulus delay spook investors
  • Brent up 0.3% at $41.95, gold last at $1,908.76

Oil Markets

  • Oil rises as US storm eases, but demand worries linger
  • Brent up 0.3% at $41.57 a barrel (0224GMT)
  • WTI up 0.7% at $39.57

 
Precious metals

  • Gold edges higher as dollar halts surge on Covid worries
  • Spot gold up 0.3% at $1,918.20/oz. (0052GMT)
  • US gold futures up 0.6% at $1,921.50/oz.

Grains

  • Corn rebounds on China demand, though improved crop ratings cap gains
  • Corn futures up 0.2% at $3.70-1/2 a bushel (0332GMT)
  • Soybeans up 0.3% at $10.26 a bushel
  • Wheat up 0.5% at $5.57-1/2 a bushel

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

  • Nigeria’s central bank decides interest rates [fcst. 12.5%, prev. 12.5%]
  • Ghana health workers on strike
  • Cameroon opposition protest expected
  • Nigeria petrol tanker drivers go on strike
  • Ghana’s EC displays new voters register; 18-25 Sep
  • 75th session of UN General Assembly (15-30 Sep); high-level general debate starts
  • South Africa state capture inquiry continues
  • Covid-19 updates by authorities across the continent

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

  • B2Gold says Mali political situation ‘headed in right direction’
  • Kenya’s top judge advises parliament to dissolve over lack of women
  • Former Mali colonel Ndaw named interim president, junta leader VP
  • Cameroon soldiers jailed for killing women and children
  • Armed men kill at least a dozen civilians in northeast Congo
  • Botswana says toxins in water killed hundreds of elephants
  • Nigeria health workers end strike despite no coronavirus harzard pay
  • Kinross Gold CEO sees ‘very low’ risk of unrest spreading to Mauritania
  • Ivory Coast opposition calls for protests to stop Ouattara’s third term bid
  • Sibanye-Stillwater looking to buy gold mines outside South Africa – CEO
  • Coronavirus rumours and regulations mar Burkina Faso’s malaria fight
  • South Africa’s stocks, rand plunge on risk-off market sentiment
  • Senegal’s economy to contract 0.7% in 2002, IMF says
  • Ivory Coast dry spell supports cocoa main crop
  • OPEC watching Libya oil restart closely, needs time to assess – sources
  • Egypt discovers 27 sarcophagi more than 2,500 years old
  • Zimbabwe teachers to boycott work over pay, demand Covid-19 allowance
  • Oil tanker heads to Libya’s Hariga terminal as NOC partially lifts force majeure
  • Turkey will keep supporting Libya’s GNA despite Sarraji plan to quit
  • Botswana says cyanobacteria cause of mysterious elephant deaths
  • Algeria announces early legislative election
  • Algeria names new central bank governor, says President Tebboune
  • Morocco orders Covid-19 vaccine as cases approach 100,000
  • South Africa to allow travel from all of Africa from Oct. 1
  • South Africa’s Investec profit warning increases heat from investors

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

macroafricaintel Daily Brief | 21 Sep

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

Global Markets

  • Asian shares cling to tight ranges as attention shifts to US election, stimulus
  • MSCI ex-Japan down 0.1%, China blue-chips down 0.3%
  • Brent down 1 cent at $41.1
  • Spot gold slightly lower at $1,951.3

Oil Markets

  • Oil prices steady as third storm in month takes aims at US
  • Brent up 0.2% at $43.24 a barrel (0230GMT)
  • WTI up 0.2% at $42.21

Precious metals

  • Gold prices firm as tepid dollar lends support
  • Spot gold up 0.2% at $1,953.37/oz. (0334GMT)
  • US gold futures down 0.1% at $1,960.50/oz.

Grains

  • Soybeans ease from 28-mth high, Chinese demand curbs losses
  • Soybean futures down 0.1% at $10.42 a bushel (0258GMT)
  • Corn down 0.4% at $3.77 a bushel
  • Wheat unmoved at $5.75 a bushel

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

  • Ghana’s Akufo-Addo visits Nigeria; 20-22 Sep
  • Uganda eases Covid-19 restrictions, allows in tourists
  • Nigeria’s central bank decides interest rates; 21-22 Sep [fcst. 12.5%, prev. 12.5%]
  • South Africa state capture inquiry continues
  • Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today

  • World leaders to mark United Nations at 75 as pandemic challenges organization
  • Sudan to discuss removal from US terrorism list in UAE
  • Covid-19 graft scandals fuel South Africans’ anger with ruling ANC
  • Banks agree $545 mln for Congo Republic economy
  • Libya’s NOC lifts force majeure on oil, except where fighters remain
  • Morocco orders Covid-19 vaccine as cases approach 100,000
  • Former execs of South Africa’s Comair to buy out firm in restructuring
  • South Africa commits $650 mln to airline SAA, adminstrator says
  • Turkey upset by Sarraj’s plan to step down in Libya – Erdogan
  • With tourists slow to return, Egypt’s resorts and ancient sites face tough winter
  • Three women in final five for WTO leadership race
  • Libya’s Haftar says he will lift oil blockade
  • Dutch court freezes stake in Angola’s former first family oil feud
  • Somalia president names newcomer Roble premier as elections loom
  • Japan sending team to probe Mauritius ship grounding
  • Ivory Coast opposition calls for protests to stop Ouattara’s third term bid
  • Ethiopia files terrorism charges against leading opposition activist
  • ‘Hotel Rwanda’ hero says he was duped into coming to Rwanda, NYT reports
  • Convoy ambush in eastern Congo kills one aid worker
  • Ivory Coast ex-PM, barred from standing for president, says Ouattara must be blocked
  • Burundi impunity for abuses continues, says UN report, as another mass grave opened
  • Militant group claims killing of France aid workers in Niger
  • More than 30 killed in militia attacks in western Ethiopia
  • Suspected arms dealers moved millions in Somalia money transfers, report says
  • ‘Hotel Rwanda’ hero denied bail during terror trial

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

macroafricaintel Daily Brief | 18 Sep

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

Global Markets

  • Asia defies Wall Street weakness but economy, election worries cap gains
  • MSCI ex-Japan up 0.2%, Nikkei 0.1% higher
  • S&P down 0.2%, Nasdaq up 0.07%
  • Brent last 0.2% firmer at $43.39

Oil Markets

  • Oil eases as US production returns after storm
  • Brent down 6 cents at $43.24 a barrel (0112GMT)
  • WTI down 6 cents at $40.91

Precious metals

  • Gold firms on economic worries, stimulus hopes
  • Spot gold up 0.5% at $1,951.32/oz. (0348GMT)
  • US gold futures up 0.5% at $1,959/oz.

Grains

  • Soybeans set for sixth weekly gain as China steps up purchases
  • Soybean futures up more than 4% this week, set for more than 20% rally in 6 weeks
  • Corn up nearly 3% this week
  • Wheat up close to 4% in the week

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

  • South Africa ministerial briefings on ease of Covid-19 restrictions expected
  • South Africa SACCI business confidence Aug-20 [prev. 82.8]
  • Covid-19 updates by authorities across the continent

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

  • Burundi impunity for abuses continues, says UN report, as another mass grave opened
  • Suspected arms dealers moved millions in Somalia money transfers, report says
  • Somalia’s president names Mohamed Hussein Roble as prime minister
  • Convoy ambush in eastern Congo kills one aid worker
  • Militant groupu claims killing of France aid workers in Niger
  • More than 30 killed in militia attacks in western Ethiopia
  • Head of Libya’s Tripoli govt says he wants to quit
  • ‘Hotel Rwanda’ hero denied bail during terror trial
  • Ivory Coast ex-PM, barred from standing for president, says Ouattara must be blocked
  • Uganda reverses forest destruction by inviting in…loggers
  • Algeria referendum looms as test for president and opposition
  • Uganda says 219 prisoners escape, some with guns and ammunition
  • South Sudan president replaces finance minister, state TV reports
  • Covid-19 graft scandals fuel South Africans’ anger with ruling ANC
  • South Africa to open up for international travel from Oct.1, says president
  • Kenya county govts shut down services in dispute over revenue-sharing scheme
  • Mali junta moves toward selecting interim president after embargo threat

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

macroafricaintel Daily Brief | 17 Sep

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

Global Markets

  • Asian shares open weaker after Fed
  • Nikkei flat, Hang Seng down 0.15%
  • BoJ keeps policy steady
  • Brent down 0.8% at $41.86
  • Gold down 1.1% at $1,938.12

Oil Markets

  • Oil falls as demand worries re-emerge, crews return to US Gulf rigs
  • Brent down 0.8% at $41.86 a barrel (0355GMT)
  • WTI down 1.1% at $39.73

Precious metals

  • Gold drops 1% as dollar rises after Fed’s upbeat economic view
  • Spot gold down 1.1% at $1,938.12/oz. (0321GMT)
  • US gold futures down 1% at $1,951.30/oz.

Grains

  • Soybeans hit over 27-mth high on Chinese demand
  • Soybean futures up 0.6% at $10.17-1/2 a bushel (0134GMT)
  • Corn down 0.1% at $3.71-1/2 a bushel
  • Wheat down 0.1% at $5.41-1/2 a bushel

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

  • South Africa’s SARB decides on interest rates [fcst. 3.5%, prev. 3.5%]
  • Kenya counties shut down over revenue allocation standoff
  • South Africa ministerial briefings on ease of Covid-19 restrictions expected
  • Covid-19 updates by authorities across the continent

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

  • Ghana’s economy contracts for the first time in 37 years
  • Head of Libya’s Tripoli govt says he wants to quit
  • Egypt cuts highways across pyramids plateau, alarming conservationists
  • South Sudan president replaces finance minister, state TV reports
  • Covid-19 graft scandals fuel South Africans’ anger with ruling ANC
  • South Africa to open up for international travel from Oct.1, says President
  • Kenya county govts shut down services in dispute over revenue-sharing scheme
  • Mali junta moves toward selecting interim president after embargo threat
  • ‘Hotel Rwanda’ hero could face maximum life in prison, prosecution says
  • West Africa bloc fails to reach agreement with Mali junta
  • More than 50 prisoners starve to death in east Congo prison
  • South Africa’s Discovery reports 94% drop in full-year profit
  • Mozambique army condemns ‘horrifying’ shooting of naked woman at hands of fighters
  • Algeria upholds conviction of journalist; rights group fear new crackdown
  • UN chief to appoint special envoy to broker peace in Libya

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