macroafricaintel Daily Brief | 15 Sep

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

Global Markets

  • Asian stocks head higher on China data, markets eye Fed meeting
  • MSCI ex-Japan index rises, most Asian markets in green
  • Central bank meetings dominate week’s agenda
  • Brent down 0.1% at $39.58, WTI down 0.1% at $37.24

Oil Markets

  • Oil inches lower as bleaker demand outlook weighs
  • Brent down 0.1% at $39.58 a barrel (0102GMT)
  • WTI down 0.1% at $37.24

Precious metals

  • Gold rises on softer dollar, investors focus on Fed meet
  • Spot gold up 0.3% at $1,962.78/oz. (0259GMT)
  • US gold futures up 0.5% at $1,972.60/oz.

Grains

  • Soybeans near 2-yr high on Chinese demand, US crop woes
  • Soybean futures up 0.4% at $10.03 a bushel (0248GMT)
  • Corn down 0.3% at $3.68-1/2 a bushel
  • Wheat up 0.1% at $5.46-1/4 a bushel

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

  • ECOWAS leaders meet on Mali in Aburi, Ghana
  • South Africa’s Ramaphosa presides over meetings of councils on the economy (NEDLAC) & covid-19 response (PCC)
  • South Africa business confidence Aug-20 [prev. 82.8]
  • 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 yesterday & early a.m today

  • Canada’s First Quantum eyes operations expansion at Zambia mine
  • Ivory Coast council approves President Ouattara for third term
  • US slaps more election-related visa restrictions on Nigerians
  • ‘Hotel Rwanda’ hero declines to plead to terrorism charges
  • Egypt real estate firms’ profit hit by coronavirus crisis
  • Protest erupt in Ivory Coast against Ouattara’s third term bid
  • Nigeria reels from twin crisis that threaten food availability
  • OPEC+ Sept meeting unlikely to advocate deeper oil output cuts – sources
  • Egypt to allow wedding ceremonies, cultural events in open-air venues
  • Iran says it supports OPEC as long as its interests are protected
  • AngloGold Ashanti says South Africa gives “unconditional” approval for asset sale to Harmony
  • Ten Tanzanian school children killed in dormitory fire
  • Morocco medics protest over conditions, staff shortages as pandemic surges
  • Ivory Coast rains boost cocoa main crop
  • Coronavirus prompts major pre-emptive Egypt wheat buying spree
  • Vodafone says STC ‘substantively’ completed due diligence on Egypt unit stake sale

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

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