macroafricaintel Daily Brief | 14 Sep

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

Global Markets

  • Asian shares buoyed by coronavirus vaccine hopes
  • MSCI ex-Japan rises, most Asian markets in green
  • AstraZeneca resumes phase-3 trial for coronavirus vaccine
  • UK, US, Japan central bank meetings expected this week
  • Brent up 0.5% at $40, gold firm at $1,949.7/oz.

Oil Markets

  • Oil mixed as storm threatens US gulf production
  • Brent down 3 cents at $39.80 a barrel (0050GMT)
  • WTI up 9 cents at $37.42

Precious metals

  • Gold gains on weaker dollar, investors await Fed meeting
  • Spot gold up 0.4% at $1,949.92/oz. (0309GMT)
  • US gold futures up 0.6% at $1,958.60/oz.

Grains

  • Soybeans rise above $10/bushel on Chinese demand, corn at 5-mth peak
  • Soybean futures up 0.8% at $10.04-1/2 a bushel (0347GMT)
  • Corn up 0.6% at $3.70-3/4 a bushel
  • Wheat up 0.4% at $5.44 a bushel

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

  • Nigeria health workers embark on 7-day strike
  • South Africa SACCI business confidence Aug-20 [prev. 82.8]
  • ECOWAS leaders meet on Mali in Accra (15 Sep)
  • South Africa’s SARB MPC meets on rates; 15-17 Sep [fcst. 3.5%, prev. 3.5%]
  • Nigeria inflation Aug-20 [fcst. 12.8% yy, prev. 12.8%]
  • Covid-19 updates by authorities across the continent

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

  • Protesters set govt building on fire in eastern Libya
  • Uganda, Tanzania sign agreement for construction of crude oil pipeline
  • Mali’s M5-RFP coalition rejects junta’s post-coup charter
  • South Africa economy to shrink by more than govt’s 7% forecast in 2020 – Mboweni
  • Libya medics already faced war, now the pandemic is surging there too
  • Saudi Telecom says no deal reached on Vodafone Egypt stake
  • Libya’s Haftar committed to ending oil blockade, US says
  • Ivory Coast’s Bedie promises to let exiles return if elected president
  • Mali negotiators back charter that could see soldier as interim president
  • Congo gold miners scour rubble for bodies after cave-in
  • Mali interim president can be soldier or civilian – rapporteur
  • Congo says it will reimburse VAT to mining companies after audit
  • Ambulance hits landmine in southern Mali, killing six
  • At least 50 killed in collapsed gold mine in east Congo – NGO
  • Uganda, Total reach agreement bringing to fresh 4-wk low on cooler forecasts
  • Ivory Coast govt seeks end to violence ahead of October election
  • Egypt’s Sisi says appreciates ‘important step’ of Israel, Bahrain establishing diplomatic ties
  • Can a tooth settle the mystery over Congo’s independence hero?
  • Unilever South Africa takes further steps after ‘racist’ TRESemme advert
  • Regional party wins vote in Ethiopia’s Tigray, challenging federal govt
  • Six killed in Burundi gun attack, weeks after similar incident
  • Risk appetite aids South Africa’s rand recovery, stocks up
  • Almost 100 Senegal soldiers test positive for coronavirus
  • Junta to appoint Mali leader in 2-yr transition, proposal says
  • South Africa bank profits seen taking years to recover from Covid-19 hit
  • Malawi’s economy to grow 4.5% in 2021 – finmin
  • Zimbabwe divorce law spurs women’s fight for property

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

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