macroafricaintel Daily Brief | 12 Jan

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

Global Markets
• Democrats push impeachment Wednesday, FBI warns of armed protests ahead of inauguration
• Stocks pause for breath as bond selloff extends
• US bank quarterly profits expected to fall again from pre-covid levels
• Oil prices dip on rising virus cases; expected stock draw stems losses
• Brent down 0.2% at $55.56, WTI down 0.2% at $52.17 (0500GMT)
• Gold steadies as weaker stocks offset stronger dollar, bond yields
• Spot gold little changed at $1,845.19/oz., futures down 0.3% at $1,845.90 (0037GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Nigeria finmin Ahmed presents details of 2021 appropriation act
• South Africa manufacturing production Nov-20 [fcst. -1.3% yy, prev. -3.4%]
• South Africa state capture inquiry continues
• South Africa retail sales Nov-20 [fcst. -4.9% yy, prev. -1.8%] (13 Jan)
• Uganda holds general elections (14 Jan)
• Ghana supreme court hears Mahama petition (14 Jan)
• Nigeria inflation Dec-20 [fcst. 15.8% yy, prev. 14.9%] (14 Jan)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• IMF says board approves $487.5 mln disbursement to Angola
• In Senegal, lack of cold storage limits covid vaccine options
• South Africa secures 20 mln vaccines from manufacturers, Ramaphosa says
• World Bank to invest $5 bln in 11 Africa countries
• Paris Club of international creditors accept Kenya debt relief request
• Facebook takes down Uganda pro-Museveni accounts ahead of election
• Africa free trade tariff rules should be completed by July – official
• Guinea: Steinmetz trial on corruption charges opens in Geneva
• 3-way talks on Ethiopia dam reach new impasse
• Uganda presidential election pits Museveni against popular singer
• Seychelles rolls out covid-19 vaccination using China’s Sinopharm, says president’s office
• Zambia president dismisses health minister, no reason given

Bloomberg
• IMF to disburse $488 mln to Angola as it seeks to curb debt
• South Africa extends alcohol ban, curbs travel amid virus surge
• Credit Suisse’s former CEO Thiam to start blank-check firm
• J&J plans to submit South Africa vaccine trial data by Jan. 21
• Virus resurgence leaves South Africa at risk of oxygen shortfall
• Almost half of South Africa’s oil refining seen shut until 2022
• Africa exceeds 3 mln covid-19 cases, 30% in South Africa

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

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