macroafricaintel Daily Brief | 17 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares firm as China’s GDP raises hopes of recovery
  • MSCI Asia ex-Japan +0.1%, Nikkei +0.49%
  • Global stock index inches up to record highs
  • China 2019, Q4 GDP growth in line with expectations

Oil Markets

  • China’s 2019 & Dec crude oil runs hit record highs; up 7.6% y/y
  • Brent up 3 cents at $64.65 a barrel (0123GMT)
  • WTI up 6 cents at $58.58 a barrel

Precious metals

  • Gold eases on demand for riskier assets, set for week in 2 mths
  • Gold down 0.1% at $1,550.96/oz. (0118GMT)
  • US gold futures flat at $1,550.80/oz.

Grains

  • Soybeans fall, set for biggest weekly loss in 5 mths
  • Soybeans fall as China says US buys dependent on market
  • Soybean futures down 2.3% week thus far; little changed at $9.24-1/2 a bushel (0206GMT)
  • Corn futures up 0.5% at $3.77-1/2 a bushel; down 2% for the week
  • Wheat futures little changed at $5.65-3/4 a bushel; up nearly 0.5% for the week

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

  • Nigeria inflation Dec-19 [fcst. 12.2% yy, prev. 11.9%]
  • South Africa – India joint ministerial commission in New Delhi; Pandor co-chairing
  • Comoros parliamentary elections
  • Nigeria’s Buhari heads to London today for UK-Africa summit (20 Jan)
  • Libya Berlin conference (19 Jan)

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

  • South African central bank surprises with rate cut by 25bps to 6.25%
  • South Africa’s rand firms on surprise rate cut
  • Sibanye cuts fewer jobs than planned in Marikana restructuring
  • South Africa’s finance minister seeking funding for airline SAA
  • Senegal rape law offers hope after years of silence
  • German foreign minister says Libya’s Haftar backs ceasefire: n-tv
  • Lesotho PM Thabane says he intends to resign: SABC
  • Record 45 mln people across Southern Africa face hunger: UN food agency
  • EU parliament condemns rights crackdown in Burundi ahead of 2020 election
  • UK seeks to confiscate convicted Nigerian politician’s loot
  • Angola’s dos Santos moots presidency run despite charges
  • Nigerian militants free 3 aid workers, other civilian hostages: U.N
  • Seeking peace in Libya & Iran, past inaction haunts EU diplomacy
  • MTN Group appoints Kyomukama as South Sudan CEO
  • South Africa scours state coffers in bid to rescue SAA
  • Firm linked to Nigerian oil firm Lekoil welcomes loan scam probe
  • Makgoba appointed interim chair at South Africa’s Eskom
  • Erdogan says Turkey starting troop deployment to Libya
  • South African Airways selling nine Airbus aircraft – tender document
  • Kenyan shiiling firms against dollar on back of remittances, investors buying stocks

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

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