macroafricaintel Daily Brief | 14 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks rally to record high ahead of trade deal; yen slips
  • Imminent trade deal drives optimism
  • World stocks hit record high, Nikkei hits month-high
  • Yen drops to 7-mth low

Oil Markets

  • Oil prices dip as Mideast tensions ease; market eyes trade deal
  • US crude oil inventories likely fell last week – poll
  • Brent down 0.1% at $64.12 a barrel (0124GMT)
  • WTI down 0.1% at $58.04

Precious metals

  • Gold falls ahead of US-China trade deal on improved risk appetite
  • Spot gold down 0.7% at $1,537.67/oz. (0126GMT)
  • US gold futures down 0.9% at $1,537.10/oz.

Grains

  • Soybeans drop for 2nd day; US-China trade deal eyed
  • Wheat futures down 0.1% at $5.61-1/2 a bushel (0213GMT)
  • Corn futures down about 0.1% at $3.89-1/4 a bushel
  • Soy futures down 0.1% at $9.41 a bushel
  • Rice futures unchanged at $13.23 per hundredweight

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

  • 2nd Business Unity South Africa Indaba; Ramaphosa attending
  • South Africa state capture inquiry resumes
  • Nigeria Supreme Court to decide 6 gubernatorial election appeals
  • South Africa consumer confidence Q4-19 [prev. -7]
  • South Africa central bank MPC meets on interest rates (14-16 Jan)
  • Egypt, Ethiopia & Sudan meet over Nile dam in Washington DC; 15 Jan deadline for agreement
  • South Africa’s Mabuza in South Sudan for consultations on peace agreement

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

  • US confirms ‘avoidable’ death of Egyptian-American Kassem in custody
  • Nigeria’s Lekoil halts London trading on finding loan was ‘complex façade’
  • France, West Africa to unite forces in fight against militants
  • Nigeria’s central bank reschedules monetary policy committee meeting to Jan.23-24
  • France to send extra 220 troops to fight militants in Sahel – Macron
  • Libya’s Haftar, Serraji did not meet officially during Moscow talks – Interfax
  • South Africa’s mining industry calls for action to end power crisis
  • Libya peace talks in Moscow fall short of ceasefire deal
  • Nigeria seeks to boost revenue, support small firms with new finance law
  • Africa Oil – India’s IOC issues two tenders, programmes awaited
  • Egypt’s Suez Canal Economic Zone to set up investment arm
  • South African rand soft ahead of data-packed week
  • US Supreme Court rebuffs Sudan bid to limit damages over embassy bombings
  • Ivory Coast pledges trafficking crackdown as 137 child victims are rescued
  • Trump, Germany’s Merkel discussed security, Libya – White House
  • Egypt’s central bank received no request from Bank Audi to sell Egyptian unit
  • Egypt’s Beltone to sell stake in brokerage Auerback in 2020
  • Niger sacks army chief after deadliest attacks in years
  • Zimbabwe finance minister sticks to 3% growth forecast despite poor rains
  • EU welcomes Libya ceasefire, says UN must lead reconciliation
  • Kenya’s stock exchange sees boost from repeal of rate cap
  • Angola holds off on chasing dos Santos’ assets abroad – prosecution
  • MTN Nigeria rises 10% after $2 bln tax case withdrawn
  • Ivory Coast 2019/20 cocoa arrivals reach 1.259 mln T by Jan. 12 – exporters
  • Germany plans to hold Libya summit on Jan 19 – participants
  • Ivory Coast cocoa arrivals reached 1.112 mln T by Dec. 31
  • Angolan courts could take action to seize dos Santos’ assets abroad ‘if necessary’ – prosecution
  • 3 teachers killed in suspected militant attack near Kenya’s Somalia border – police
  • South Africa’s Massmart could cut 1,440 jobs
  • Uganda shilling stronger on back of commodity flows

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

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