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

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