macroafricaintel Daily Brief | 6 Nov

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

Global Markets
• Vote counts push Biden closer to victory as Trump falsely claims
election being ‘stolen’
• Trump campaign loses legal fights in Georgia & Michigan, vows Nevada lawsuit
• Trump lawsuits unlikely to impact outcome of US election, experts say
• Wall Street rallies as investors eye split US Congress
• US oil drops as pandemic rages while presidential vote counting continues
• WTI down 0.8% at $38.47 (0040GMT), Brent down 0.7% in previous session.
• Gold eases on stronger dollar; investors eye close US election outcome
• Spot gold down 0.4% at $1,940.86/oz., futures down 0.1% at
$1,944.70/oz. (0105GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Ethiopia enters state of war, as Tigray regional forces attack federal ones
• Ghana election chief answers questions in parliament on polls
preparedness (7 Nov)
• Results of US presidential elections awaited
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa FX reserves Oct-20 [prev. $54.42B]
• Harrassment of opposition in Zimbabwe, Tanzania, Guinea & Ivory
Coast in focus; rising risk of civil war in Ethiopia also
• 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
Reuters
• Ethiopia mobilises for war in northern region
• 11 kidnapped teachers freed in Cameroon
• Africans amused but alarmed by US election’s aftermath
• Egypt sentences dozens to jail over 2013 sit-in
• Ethiopia’s Abiy resists diplomatic pressure to halt offensive
• Doctor’s self-funded test lab leads way in Somalia’s Covid fight
• Ivory Coast & Guinea election crises spur fears of prolonged unrest
• Mauritius oil spill clean-up likely to be completed by January: ship owner

Bloomberg
• Nigeria banks to fail stress tests should economic slump deepen
• IMF, World Bank postpone late-2021 Morocco meeting by a year
• Tanzania president sworn for 2nd term after disputed election
• Tanzania finalizing permit for its first rare-earth metals mine
• A stalled conflict in Sahara risks reigniting as trade blocked
• Ethiopia army plans further strikes in restive Tigray region
• Why Ethiopia’s internal tensions risk boiling over
• Renewable energy drive threatens 120,000 South Africa jobs

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

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