macroafricaintel Daily Brief | 26 Nov

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

Global Markets
• Asian shares advance as vaccine, recovery hopes triumph soft US data
• Hit by pandemic, Americans line up for Thanksgiving meals
• Bitcoin price drops more than $1,000 in Asian trade
• Oil rally boosted by surprise fall in US stocks
• Brent up 0.9% at $49.06, WTI up 0.7% at $46.05 (0245GMT)
• Gold gains as weak US jobs data, virus worries dim recovery hopes
• Spot gold up 0.3% at $1,811.31/oz., futures up 0.2% at $1,808.70 (0324GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• AU envoys in Ethiopia to mediate Tigray conflict, as military assault on region about to begin
• Central Bank of Kenya decides interest rates [fcst. 7.0%, prev. 7.0%]
• South Africa producer inflation Oct-20 [fcst. 2.5% yy, prev. 2.5%]
• 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

Key African events or data releases yesterday & early a.m today
Reuters
• Exxon & Total in talks over Mozambique LNG resource-sharing deal – sources
• Ethiopia news agency says 10,000 people ‘destroyed’ in war
• Suspected militant attack kills four Chad soldiers
• Africa envoys head for Ethiopia as ultimatum expires for assault
• South Africa business confidence improves in fourth quarter as
lockdowns ease – survey
• Malawi ready to produce cannabis for industrial and medicinal use
• South Africa confirms going for COVAX vaccine scheme for 10% of population
• Tigrayans accused of massacre in Ethiopia war, both sides claim advances

Bloomberg
• South Africa hospitals warn of virus surge in holiday season
• The cost of shorting South Africa’s rand is higher than ever
• World’s outlier Nigeria on remittances has its currency woes to blame
• Top cocoa grower Ivory Coast says chocolatiers favor profit over farmers
• South Africa’s Mboweni says PIC willing to help Eskom resolve debt
• Burundi urges UN to push Rwanda for handover of dissidents
• Alleged member of Nigeria cybercrime ring arrested in Lagos
• Africa looks to China, Russia to boost scant vaccine supplies
• South Africa holds five days of mourning for coronavirus victims
• Pandemic created new class of Kenya poor, World Bank says
• UN fears for potential of civilian casaulties in Ethiopia
• Moody’s says Nigeria banks are more equipped for expansion push
• Coronavirus is helping Africa economies compete
• Senegal cautions against private-debt relief for Africa nations
• South Africa business mood jumps to highest in more than two years
• Kenya seeks to refinance foreign commercial debt at 5% ceiling
• South Africa stocks edge higher as upgrades boost Bidvest, Tiger
• South Africa inflation quickens to 7-mth high on food costs
• Israel should invest in its new ties to Sudan
• Ethiopia fighting leaves Sudan hosting refugees it can’t support
• South Africa could sells shares in restructured national airline

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

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