macroafricaintel Daily Brief | 27 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares hit 18-mth top in festive cheer; oil, gold hold gains
  • MSCI ex-Japan at highest since June 2018, up 16% this year
  • Q4 earnings will come to focus in January
  • MSCI world index, Dow, S&P 500 hit record closing highs Thursday
  • Brent at 2-1/2 month peak, gold at 2-mth highs

Oil Markets

  • Oil hits 3-mth highs as strong US consumer spending underpins growth hopes
  • Brent up 0.2% at $68.05 a barrel (0150GMT)
  • WTI up 0.2% at $61.81

Precious metals

  • Gold eases as stocks gain; set for best weekly jump in over 4 mths
  • Spot gold down 0.1% at $1,509.56/oz. (0136GMT)
  • US gold futures unchanged at $1,514.40/oz.

Grains

  • US soybeans rise on China purchase hopes
  • Wheat futures up 0.4% at $5.51-1/4 a bushel (0215GMT)
  • Soybean futures up 0.1% at $9.47 a bushel
  • Corn futures down 0.1% at $3.88 a bushel

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

  • Ghana’s Menzgold expected to pay longsuffering customers
  • South Africa balance of trade Nov-19 [prev. ZAR3.09B]
  • Nigeria manufacturing PMI Dec-19 [prev. 59.3]
  • Nigeria non-manufacturing PMI Dec-19 [prev. 60.1]

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

  • Turkey to send troops to Libya at Tripoli’s request – Erdogan
  • Trump, Egypt’s Sisi agree on need to end Libya conflict – White House
  • Morocco jails one man, detains another over criticism of authorities on social media
  • Libya makes formal request for Turkish military support – official
  • Ivory Coast says presidential candidate Soro plotted a coup
  • Russia & Italy call for peaceful solution to Libya crisis
  • Zambia plans to compel copper miners to account for gold
  • Russia & Turkey extended talks on Syria/Libya in quest for compromise – Vedomosti

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

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