macroafricaintel Daily Brief | 3 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks extend New Year cheer, Mideast air strikes drive oil higher
  • Oil surges after reports Iran officials killed in US air strike
  • MSCI Asia ex-Japan +0.4%
  • Brent up 1.9% at $67.48
  • Spot gold up 0.5% at $1,536.54/oz.
  • China easing, positive China, Korea data seen supporting

Oil Markets

  • Oil prices jump $1 after US air strike kills Iran, Iraq military personnel
  • Brent up 1.9% at $67.48 a barrel (0202GMT)
  • WTI up 1.7% at $62.21

Grains

  • Soybeans set for 5th week of gains on Chinese demand hopes
  • Wheat futures up 0.2% at $5.61-1/4 a bushel (0152GMT)
  • Corn futures up 0.1% at $3.92 a bushel
  • Soy futures up 0.1% at $9.57 a bushel
  • Rice futures down 0.4% at $13.11 per hundredweight

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

  • Uganda parliament to vet new Museveni ministers
  • South Africa ABSA manufacturing PMI Dec-19 [prev. 47.7]

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

  • Billionaire dos Santos’ suitability as shareholder in question after asset freeze – Bank of Portugal
  • Military plane crash in Sudan’s West Darfur leaves 18 dead
  • South African photographer kidnapped in Syria back home – source
  • Algeria appoints new govt amid worst political crisis in decades
  • Turkish parliament passes Libya deployment bill, but troops unlikely for now
  • Trump tells Erdogan foreign interference complicating Libya – White House
  • Prominent South Sudan economist, 30 others pardoned by President Kiir
  • Ethiopia relaxes curbs on political gatherings with new anti-terror law
  • Algeria releases protest detainees
  • Egypt holds domestic fuel prices steady
  • South Africa’s rand weaker as dollar recovers; stocks gain
  • Africa Oil – Asking prices reduced amid slow holiday sales
  • Turkey says Trump, Erdogan discussed Libya on phone call
  • Egypt condemns Turkey decision to allow troop deployment to Libya
  • Tunisian president says parliament to vote on government
  • South Africa’s MTN exits towers businesses in Ghana and Uganda
  • Armed assailants kill 3 in Kenya’s Lamu county
  • Kenyan shilling seen rising, Zambia’s kwacha under pressure
  • Turkey to back Libya deployment bill but troops unlikely for now
  • Nigerian teen in pink aims to ‘take the golf world by storm’
  • Zimbabwe’s parched Bulawayo rations to save dwindling water

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

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