#Africa #Markets | 20 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares slip from 6-mth high ahead of Fed policy decision
  • Ex-Japan Asia down 0.4 pct; Japan flat, China up
  • Fed seen cutting rate projections, unveiling end of QT

Oil Markets

  • Oil prices pressured by economic slowdown, but OPEC cuts support
  • Brent down 0.1 pct at $67.55 a barrel (0432GMT)
  • WTI down 0.2 pct at $58.92 a barrel

Precious metals

  • Gold eases on firm dollar; markets await Fed guidance
  • Spot gold down 0.1 pct at $1,304.85 per ounce (0428GMT)
  • US gold futures down 0.2 pct at $1,304.60 an ounce


  • Soybeans fall on concerns over slow pace of trade talks
  • Most active CBOT wheat futures down 0.1 pct at $4.56 per bushel (0132GMT)
  • Most active corn futures up about 0.1 pct at $3.71-1/2 per bushel
  • Most active soy futures down 0.3 pct at $9.01-1/4 per bushel
  • Most active rice futures up 0.4 pct at $10.82 per hundredweight

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

  • Ethiopia’s Abiy Ahmed in Qatar
  • Bank of Ghana MPC meeting starts
  • South Africa inflation for Feb-19 expected [fcst. 3.3% yy, prev. 4.0%]
  • South Africa retail sales for Jan-19 expected [fcst. 2.8% yy, prev. -1.4%]
  • South Africa state capture inquiry continues
  • South Africa PIC inquiry continues

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

  • Growing pains in Ethiopia: film spotlights hidden cost of urban growth
  • Over 200 dead in Mozambique after Cyclone Idai, millions hit
  • Tunisia forces kill 3 Islamic State militants near Algeria border
  • Burkina Faso’s Onatel 2018 net profits rise 12.5 pct
  • Angola’s Isabel dos Santos reappointed to Unitel board
  • With photos, Kenyans say #WeCannotIgnore mln hungry people
  • African Crude – Asian demand seen slowing, Nigerian programmes awaited
  • Morocco keeps benchmark interest rate unchanged at 2.25 pct
  • South Africa’s rand steadies, investors eye Fed meeting
  • Thousands demonstrate in Algiers as protest leaders tell army to stay away
  • Egypt, Nissan agree to produce 100,000 cars a year – minister
  • Zimbabwe seeks to raise $350 mln selling shares in state firms
  • Morocco to issue two international bonds in 2019 and 2020 – cenbank
  • Air strike kills four people in Somalia – relatives
  • 2 killed in accident at Glencore’s Zambia mine
  • Ex-CEO, 7 others responsible for Steinhoff fraud, new CEO tells lawmakers
  • Robots compete with child jockeys in Egypt camel races
  • Lenders and travellers stick with Ethiopian Airlines, for now
  • No end in sight for South Africa power cuts
  • Morocco’s BCP 2018 net profit up 3.5 pct
  • South African watchdog demands Steinhoff produce report about fraud – CEO
  • Gunmen kill 5 miners in Ethiopia, TV says foreigners among dead
  • IMF urges South Sudan to stop taking oil-backed loans
  • UN says 1.7 mln in path of cyclone in Mozambique
  • Algeria’s Bouteflika will hand over power to elected president – Lamamra
  • Morocco’s Attijariwafa Bank reports 3.4 pct rise in 2018 net profit
  • At least 10 migrants died when their boat sank off Libya coast – official
  • Uganda shilling steady, expected to firm due to inflows from charities
  • Uganda investigates UN food aid after 3 die, police say
  • Egypt targets budget deficit of 7.2 pct, GDP growth of 6.1 pct in FY 19/20 – minister
  • Algeria protest leaders tell army to stay out of politics
  • IMF mission to visit Tunisia next week to discuss fifth review of loan
  • Ethiopia crash investigators return home after reviewing black box data – sources
  • Zimbabwe finim sees inflation below 10 pct by year-end
  • Kenya shilling weakens against dollar amid increased demand from importers
  • Kenya Re sees 25 pct dive in full-year net earnings

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

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