macroafricaintel Daily Brief | 18 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares eke out another peak, pound fears Brexit redux
  • Nikkei hovers near 2019 highs as markets consolidate
  • Sterling slips further after sharpest fall in a year
  • BofA fund manager survey shows bullish mood swing
  • China trims 14-day repo rate 5 bps to 2.65%

Oil Markets

  • Oil dips after US stock build, but demand hopes support
  • Brent down 0.3% at $65.89 a barrel (0110GMT)
  • WTI down 0.5% at $60.63

Precious metals

  • Gold steady as trade deal doubts offset positive US data
  • Spot gold trading at $1,475.55/oz. (0118GMT)
  • US gold futures flat at $1,480.20/oz.


  • Wheat falls on profit booking; soybeans snap 4-day rally
  • Hopes of increased North American supply demand caps wheat losses
  • US-China deal continues to buoy soybeans
  • Wheat futures down 0.9% at $5.51-1/4 a bushel (0304GMT)
  • Corn futures little changed at $3.89-3/4 a bushel
  • Soybean futures down 0.1% at $9.28-1/4 a bushel

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

  • Tanzania’s opposition Chadema elects leaders
  • South Africa’s Mbeki mediates in Zimbabwe’s political crisis

Key African events or data releases yesterday & early a.m today

  • Hitachi, Mitsubishi Heavy Industries in talks to settle to South Africa dispute
  • Young Chadians seek to solve blackouts, joblessness with social businesses
  • Slain student caught in ‘web’ spun by Egyptian security services – Italian prosecutors
  • Giant solar park in the desert jump starts Egypt’s renewables push
  • Morocco holds benchmark interest rate steady at 2.25%
  • Sudan’s Nile Bank signs deal with Oracle, signaling thaw with US
  • Africa Oil – Angola to export fewer cargoes, Nigerian OSPs awaited
  • Chocolate makers hobble Ivory Coast, Ghana cocoa premium with discounts
  • South African rand slips, stocks boosted by electricity supply relief
  • Nigeria’s Buhari approves record 2020 budget, on time for his first time
  • South Africa energy minister vows to keep burning coal for power
  • Egyptian pound breaks through 16 per dollar, first time since Feb 2017
  • Russia and Turkey to discuss Libya military support in January – Kremlin
  • South Sudan’s Kiir and Machar say they will form govt
  • Smart solar pumps use big data to stop Africa being sucked dry
  • Ethiopia’s surveillance network crumbles, meaning less fear and less control
  • Angola retrieves more than $5 bln in stolen assets amid crackdown on graft
  • Room for the night: Lagos priced-out residents seek shelter in abandoned buildings
  • Tesla, Apple among firms accused of aiding child labour in Congo
  • Ugandan shilling a notch firmer on offshore flows
  • Nigerian inflation climbs for third month in November at 11.85% as prices rise across the board
  • IMF approves $368 mln loan to Congo to meet ‘urgent’ balance of payment needs

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

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