macroafricaintel Daily Brief | 14 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks retreat as China’s growth slowdown deepens
  • Chinese Oct economic indicators miss forecasts
  • Hopes for resolution to US-China trade war fade
  • Asian stocks drop, Hong Kong falls most

Oil Markets

  • Oil rises on decline in US crude stocks, Fed comments on economy
  • Brent up 0.3% at $62.54 a barrel (0111GMT)
  • WTI up 0.4% at $57.32

Precious metals

  • Gold inches down as hawkish Fed weighs on safe-haven demand
  • Spot gold down 0.1% at $1,461.50/oz. (0141GMT)
  • US gold futures flat at $1,462.40/oz

Grains

  • Soybeans firms, rebound from more than 1-mth low
  • Soybean futures up 0.2% at $9.17 a bushel (0133GMT)
  • Corn futures up 0.1% at $3.75-1/2 a bushel
  • Wheat futures unchanged at $5.09 a bushel

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

  • Nigeria digital economy summit; 14-15 Nov [Alibaba’s Jack Ma attending]
  • 11th BRICS summit in Brasilia, Ramaphosa attending; 13-14 Nov
  • South Africa inequality trends report by Stats SA
  • Nigeria inflation Oct-19 [fcst. 11.7% yy, prev. 11.2%]
  • South Africa mining production Sep-19 [fcst. -2.2% yy, prev. -3.2%]
  • Egypt triple-tranche dollar bond bookbuilding
  • International Conference on Population & Development (ICPD) in Nairobi; 12-14 Nov

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

  • Australia’s Fortescue loses bid to develop Guinea iron ore blocks
  • Nigeria security agency denies opening fire on supporters of detained activist
  • Fire after gas leak in Egypt kills 7, injures 16 – state newspaper
  • South Africa’s Absa to appoint former c.bank deputy Mminele as CEO – media
  • Setback for Tunisia’s ‘Me Too’ movement as new MP gets immunity
  • 2 Namibian ministers quit in bribery scandal involving Icelandic fishing firm
  • Tunisia’s parliament picks moderate Islamist party leader as speaker
  • South African rand edges firmer, stocks dip
  • IMF revises up Rwanda 2019 growth forecast to 8.5%
  • Sudan’s bourse maps out expansion plans amid uncertainty
  • South Africa’s SAA says strike could push airline towards collapse
  • US to reevaluate South Sudan ties after unity govt deadline passes
  • Ghana’s GDP growth to slow, budget deficit to rise in 2020
  • Africa Oil – Nigerian light sweet crude offered high but cracks ease
  • Malawi receives 17 black rhinos from South Africa
  • South African Airways says strike endangers future of airline
  • Norway’s DNB to investigate allegedly improper Icelandic payments to Namibia
  • Tanzania says gunmen kill 6 in ambush near Mozambique border
  • Kenya’s KCB Group’s 9-mth profit rises 6%
  • Ghana’s govt proposes 21% budget increase for 2020
  • Zimbabwe bans new electric water heaters to save energy
  • US presses Egypt on alleged torture, mass arrests at UN review
  • South Africa’s retail sales up 0.2% y/y in September
  • Award-winning film ‘Atlantics’ offers haunting take on life in Senegal
  • Kenya’s budget update sees higher 2019/20 spending, deficit
  • African Development Bank decides not to fund Kenya coal project
  • Tunisia’s divided parliament attempts to choose a speaker
  • Nigeria oil output 1.6-1.7 mln bpd, in line with OPEC cut – NNPC
  • Zimbabwe to enforce “use it or lose it” policy for mining assets
  • Mozambique GDP growth seen at 5.5% in 2020 – IMF
  • Egypt starts marketing triple-tranche dollar bonds
  • South Africa’s SPAR posts profit rise despite consumer pessimism
  • Zimbabwe central bank will not allow miners to keep all forex earnings
  • Egypt to auction $1.56 bln 1-yr dollar t-bills on Nov. 18 – cbank
  • Zimbabwe to rigorously enforce “use it or lose it” policy on mining claims
  • Kenyan shilling firms due to remittances, inflows to stock market
  • Kenyan finance ministry asks parliament to hike 2019/20 budget by 86 bln shillings – papers

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

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