#Africa #Markets | 8 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global markets

  • Japanese shares rally for 2nd day as yen ease
  • Dollar holds firm, but sidelined by bitcoin frenzy
  • Sterling twitchy amid UK/Ireland talks on Brexit

Oil markets

  • Oil prices dip on stronger dollar (up 0.8 pct in Dec.)
  • But OPEC-led supply cuts prevent further crude price falls

Precious metals

  • Gold inches up after slumping to over 4-mth low
  • Spot gold was up nearly 0.2 pct at $1,248.29 an ounce (0102GMT), after hitting its lowest since July 26 at $1,243.71 on Thursday
  • U.S. gold futures were 0.2 pct lower at $1,250.10

Key African events or data releases in the coming week
[Posts & comments at my Twitter handle @DrRafiqRaji; see published MacroWeekly (11 Dec) for forecasts]

  • South Africa Manufacturing production (Oct-17) (12 Dec)
  • South Africa inflation (Nov-17) (13 Dec)
  • South Africa retail sales (Oct-17) (14 Dec)
  • South Africa PPI (Nov-17) (14 Dec)
  • Uganda interest rate decision (13 Dec)

Key African events or data releases yesterday
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Liberian court clears way for presidential run-off vote
  • Zimbabwe judge frees ousted finance minister on bail
  • Zimbabwe pledges to curb spending, re-engage global lenders
  • South Africa to scale down nuclear expansion plan
  • South Africa police summon author of book critical of Zuma
  • Yields on Kenya’s 182-day and 364-day T-bills rise at auction
  • Nigeria oil union PENGASSAN threatens nationwide strike
  • South Africa egg prices seen rising 20 pct after avian flu outbreak
  • Evicted white Zimbabwe farmer told he’s going home
  • Vedanta’s Zambia arm to set up new processing plants
  • Mozambique CPI slows to 7.15 pct y/y in November
  • Kenya to sell 10-year, 15-year Treasury bonds in December – central bank
  • South Africa’s mining output up 5.2 pct y/y in October
  • Kenya AG says any attempt to swear in parallel president is treason
  • Zambia’s economy to expand more slowly than expected in 2017 – WB
  • Cameroon escalates military crackdown on Anglophone seperatists
  • Seychelles inflation falls to 2.99 pct y/y in November
  • South Africa’s net foreign reserves rise to $42.7 bln in November
  • IMF approves $44.5 mln credit for Madagascar

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

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