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

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