macroafricaintel Daily Brief | 2 Oct

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

Global Markets
• US stock futures extend losses after Trump says going into quarantine
• Traders await payrolls, but sentiment is weak
• US stimulus talks bog down
• Tokyo bourse reopens after trading halt on Thursday
• China, South Korea & Hong Kong markets shut for holiday

Oil Markets
• Oil drops for 2nd day as worsening pandemic threatens demand drop
• Brent down 0.9% at $40.57 a barrel (0055GMT)
• WTI down 0.9% at $38.36

Precious metals
• Gold dips as dollar ticks up; set for best week in nearly 2 mths
• Spot gold down 0.7% at $1,892.06/oz. (0306GMT)
• US gold futures down 1% at $1,898/oz.

Grains
• Corn set for weekly gains of 4% on upbeat global demand
• Corn up 4% so far this week
• Soybeans up 1.5% for the week
• Wheat up 3.6% week thus far

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Ghana ruling NPP’s Akufo-Addo campaigns in Eastern region
• South Africa’s Ramaphosa addresses UNGA on elimination of nuclear weapons
• Kenya’s Kenyatta in Paris, meets France’s Macron, etc.
• 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
• Sierra Leone court lifts Octea asset freeze after complaint thrown out
• US defense chief’s rare Algeria visit points to Sahel region threats
• Family of ‘Hotel Rwanda hero’ calls on US, EU & Belgium to help free him
• Inequality seen as a root cause of West Africa’s Sahel crisis
• Namibia faces tough challenge to reverse apartheid legacy – president
• Zimbabwe power tariffs up 50%, another hike set for next month
• Libya professor also mends cars and sells dates to make ends meet
• Libya oil output rises to 270,000 bpd as exports ramp up
• GAVI providing $150 mln to poorer countries to prepare for Covid-19 vaccines
• Rwana genocide survivors want speedy trial for Kabuga, but court faces delays
• Rugby saves school girls from child marriage in rural Zimbabwe
• South Africa has released about a fifth of earmarked state-owned
land to farmers
• Outflows point to “risk-off” brewing in emerging markets – IIF
• South Africa ends foreign travel ban, but airports deserted amid
selective curbs

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

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