macroafricaintel Daily Brief | 19 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares ease from highs, reaction to impeachment muted
  • Sentiment positive but markets lack momentum
  • Pound hurt by renewed worries of a hard Brexit

Oil Markets

  • Oil prices surf near 3-mth highs after US crude inventories fall
  • US crude inventories fell 1.1 mln bbls last week – EIA
  • Gasoline, distillates stockpiles rose – EIA
  • Brent down 1 cent at $66.16 a barrel (0224GMT)
  • WTI down 3 cents at $60.90

Precious metals (18 Dec)

  • Gold dips as dollar rises; palladium falls back from near $2,000
  • Spot gold dipped 0.1% to $1,474.91/oz. (1907GMT)
  • US gold futures settles down 0.1% at $1,478.70/oz.


  • Soybeans edge lower, US-China trade deal optimism caps losses
  • Soybean futures down 0.2% at $9.26-3/4 a bushel (0233GMT)
  • Corn futures up 0.2% at $3.87-3/4 a bushel
  • Wheat futures little changed at $5.48 a bushel

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

  • 2020 appropriations act press briefing by Nigeria’s finmin
  • ECOWAS ministers meet in Abuja (17-19 Dec); heads of state meet on 21 Dec
  • France’s Macron heads to Ivory Coast, Niger; 20-22 Dec

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

  • Chad – New York rents in the Sahara? Living in Africa’s most expensive city
  • IMF board approves financing package to pave way for Somalia debt relief
  • Egypt’s sovereign fund to revamp historic area under citadel
  • US citizenship path for thousands of Liberians tucked in spending bill
  • Fire interrupts coal supply to South Africa’s 2nd biggest power plant
  • Egypt’s wheat inspectors to resume cargo checks at origin ports
  • Canada’s SNC-Lavalin unit pleads guilty to fraud charge in Libya case
  • South Africa’ rand leaps to 4-mth best as risks ease, Fitch holds fire
  • Africa Oil – Angolan allocations yet to emerge, Nigerian programmes awaited
  • Algeria shuts Skida LNG unit for 2 months, exports affected
  • Militants kill 14 Chad civilians in overnight raid
  • South Africa says Fitch reprieve will focus efforts on bringing down debt
  • Somalia hit by worst desert locust invasion in 25 years
  • MTN South Africa’s mobile money service to go live in Jan 2020
  • Erdogan says Turkey to boost cooperation with Libya – NTV
  • Namibia’s power supply squeezed as drought hits hydropower plant
  • Kenyan shilling strengthens against the dollar
  • Hitachi, MHI reach settlement over South African project

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


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