macroafricaintel Daily Brief | 9 Nov

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

Global Markets
• Investors celebrate Biden winning US presidency
• Brent crude tops $40, dollar hit 10-wk low; after Biden clinches US presidency
• Brent up 2.1% at $40.27, WTI up 2.3% at $37.98 (0101GMT)
• Gold prices firm as dollar eases after Biden win
• Spot gold up 0.1% at $1,953.45/oz., futures up 0.2% at $1,955.60 (0049GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• UN deputy SG Mohammed visits Nigeria (8-11 Nov), Niger, Sierra Leone & Ghana on post-covid recovery efforts
• South Africa SACCI business confidence Oct-20 [prev. 85.7]
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa state capture inquiry continues
• Covid-19 updates by authorities across the continent
• South Africa manufacturing production Sep-20 [fcst. -9.0% yy, prev. -10.8%] (10 Nov)
• South Africa mining production Sep-20 [fcst. 1.9% yy, prev. -3.3%] (12 Nov)
• South Africa releases labour statistics (12 Nov)
• South Africa’s Ramaphosa briefs parliament on a range of issues (12 Nov)

Key African events or data releases over the weekend & early a.m today
Reuters
• Ethiopia’s Tigray region’s president says it is good to try to negotiate
• Ethiopia minister fires top officials as conflict in Tigray region escalates
• Nigeria central bank freezes accounts of police brutality protesters
• In escalating conflict, people of Ethiopia’s Tigray risk displacement, UN says
• Sudan partially closes border with Ethiopia – agency
• Ivory Coast opposition leader arrested for creating rival govt
• Ethiopia air strikes in Tigray will continue, says PM as civil war risks grow
• Ivory Coast opposition leaders face prison for forming rival govt – prosecutor
• Ethiopia’s Abiy vows to disarm ‘fugitives from justice’ in Tigray region
• Cameroon buries 7 children killed in school shooting
• De Beers-owned Debswana to close diamond mine on weak demand – union leader
• UN chief ‘deeply alarmed’ by armed clashes in Ethiopia’s Tigray
• South Africa eases defence firm Denel’s bailout terms
• IMF, World Bank postpone planned 2021 meeting in Morocco by one year
• Barrick sees no risk to mining conventions in Mali, hikes dividend
as gold soars
• Coronavirus knock-on effect hitting vital health services in Africa: WHO
• Ethiopia mobilises for war in northern region

Bloomberg
• Ethiopia replaces top security officials as conflict escalates
• Biden win emboldens bulls as emerging markets scream buy
• J&J covid-19 vaccine trial cleared to begin in South Africa
• South Africa’s economic blueprint lacks funding details, Mbeki says
• Guinea constitutional court validates Conde electoral victory
• Libya reviewing oil output passes million-barrel milestone
• Nigeria central bank gets court order to block protest accounts
• Renewable energy drive threatens 120,000 South Africa jobs
• Tanzania opposition leader seeks refuge with Germany ambassador
• Clashes in Ethiopia’s Tigray region put horn of Africa on edge
• Ivory Coast accuses opposition leaders of terrorism after vote
• South Africa treasury denies that budget cuts will stifle growth
• Nedbank analyst who predicted South Africa rand rally says it’s time to pause
• Sewage tests show virus cases rise in South Africa
• Airtel Africa plans tower sales to reduce $3.5 bln debt
• Ivory Coast cocoa arrivals slow on election unrest, fuel supply woes
• Shipping camels to China is goal of Sudan’s $140 mln port
• World’s hunger problem means some nations risk famine, UN says
• Nigeria banks to fail stress tests should economic slump deepen
• Tanzania finalizing permit for its first rare-earth metals mine

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

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