macroafricaintel Daily Brief | 5 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares near July peak as optimism grows on trade, economy
  • US, China seen nearing truce in trade war
  • Strong US jobs data underpins optimism on economy

Oil Markets

  • Oil edges lower amid doubts over OPEC cuts
  • Brent down 0.2% at $61.99 a barrel
  • WTI down 0.3% at $56.36

Precious metals

  • Gold prices slip as dollar climbs on trade deal optimism
  • Spot gold down 0.1% at $1,507.31/oz. (0110GMT)
  • US gold futures down 0.1% at $1,509.60/oz.

Grains

  • Corn rebounds from 1-wk low on USDA harvest report
  • Corn futures up 0.1% at $3.83-1/2 per bushel (0130GMT)
  • Soybean futures little changed at $9.38-1/4 per bushel
  • Wheat futures little changed at $5.10 per bushel

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

  • South Sudan’s Kiir & Machar meet in Kampala
  • South Africa Standard Bank PMI Oct-19 [fcst. 49.1, prev. 49.2]
  • US-East Africa trade & investment forum/AmCham Business Summit in Nairobi, Kenya; 4-5 Nov
  • Week-long celebrations in South Africa; after Rugby World Cup win
  • South Africa Investment Conference; 5-7 Nov
  • Ghana’s Akufo-Addo tours Volta region; 4-5 Nov
  • Nigeria’s Buhari in UK on private visit

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

  • Trump speaks with Egypt’s Sisi, backs talks on disputed Ethiopia dam
  • In Guinea, 2 more killed in clashes between police and protesters
  • Sudan discussing cash transfers to poor as part of food subsidies plan – PM
  • Algerian court detains former minister over corruption allegations
  • eSwatini’s economic growth to sink to 1% without urgent reforms – IMF
  • Nigerian president signs bill amending offshore oil output act
  • Zimbabwe police give unions green light for public sector protest
  • Kenya starving judiciary of funds, chief justice says
  • Africa Oil – Flurry of Angolan on offer, ICC issues tender
  • South Africa rand bounds on Moody’s ratings reprieve
  • Uganda police detain journalists protesting rights violations
  • Wanted: Artists to live and work in Lagos, Nigeria
  • Zimbabwe minister charged with corruption costing $3.7 mln
  • Pirates kidnap four crew from Greek boat off Togo – Togo navy
  • Benin authorities open investigation after 9 people abducted by pirates
  • Egypt forces say they kill 83 militants in Sinai
  • Moody’s relief boosts South Africa, emerging FX at 3-mth high
  • Shoprite’s USave a bright spot in South Africa’s slowing economy
  • Mauritius’ PM touts achievements to fend off challenge in Nov. 7 poll
  • Uganda shilling firms on slumping importer demand
  • South African bonds rally after Moody’s rating reprieve
  • Debt relief a double-edged sword for South Africans living on loans

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

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