macroafricaintel Daily Brief | 6 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks grind lower as markets await clues on trade talks
  • Asian equities swing between gains and losses
  • Treasury yields reverse course and fall in Asia
  • Traders looking for more progress in US-China trade row

Oil Markets

  • Oil slips on huge US crude build; hopes for US-China trade talks check losses
  • Brent down 0.4% at $62.73 a barrel (0120GMT)
  • WTI down 0.4% at $57.05

Precious metals

  • Gold firms as markets await clarity on trade talks
  • Spot gold up 0.2% at $1,486.53/oz (0121GMT)
  • US gold futures up 0.3% at $1,488/oz

Grains

  • Corn firms for first time in five sessions
  • Corn futures up 0.3% at $3.83 a bushel (0013GMT)
  • Soybean futures little changed at $9.34-1/2 a bushel
  • Wheat futures up 0.3% at $5.16-3/4 a bushel

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

  • Ethiopia dam talks in Washington DC
  • Africa oil week; 4-8 Nov
  • Week-long celebrations in South Africa; after Rugby World Cup win
  • South Africa Investment Conference; 5-7 Nov

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

  • Tunisian TV channel owner arrested on corruption allegations
  • Kenya vows to cut emissions as dirty stoves and fuels kill 21,500 a year
  • Zimbabwe public workers to press ahead with pay protest
  • African Oil – Angolan offers steady, fewer December cargoes remain
  • Tunisian inflation slows to 6.5 percent
  • South Africa’s rand flat as Moody’s relief wanes
  • Angola forms consortium with 5 oil firms for $2 bln LNG project
  • Nigerian police free 259 people from Islamic institution
  • Moody’s lowers South African Eskom’s rating deeper into junk
  • Kenya ditches cap on banks’ commercial lending rates
  • Total aiming for 2 additional LNG trains in Mozambique LNG
  • Kenyan president’s bid to remove lending rate cap passes parliament
  • Goldman’s sub-Saharan Africa CEO Coleman to leave firm
  • South Africa’s PetroSA eyes Russia for $359 mln farmout deal
  • Moody’s lowers South African Eskom’s junk rating on restructuring doubts
  • Total to drill another offshore well in South Africa early 2020
  • Senegal announces launch of oil and gas licensing round
  • Portfolio investors help support Kenyan shilling
  • South African consumer confidence hits lowest since 2017
  • Kenya private sector growth slows in Oct – Markit Stanbic Bank
  • South Africa’s private sector contracts again in Oct – PMI
  • South African fuel prices to drop in Nov
  • Rwanda appoints new foreign minister, internal security minister
  • Egypt non-oil private sector shrinks for third straight month in Oct – PMI
  • Trump speaks with Egypt’s Sisi, backs talks on disputed Ethiopia dam

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

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