macroafricaintel Daily Brief | 29 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

  • Asian shares turn red as Hong Kong tumbles on China virus
  • Pessimism about China virus recedes
  • Treasury yield rise shows risk appetite has improved
  • Oil market eyes OPEC output cuts

Oil Markets

  • Oil rises as investors take stock of economic hit from virus
  • Brent up 0.6% at $59.84 a barrel (0103GMT)
  • WTI up 0.6% at $53.79

Precious metals

  • Gold steady as markets gauge virus impact, await Fed decision
  • Spot gold steady at $1,565.69/oz. (0134GMT)
  • US gold futures down 0.3% at $1,565.10/oz.

Grains

  • Soybeans tick up, gains capped by concerns over Chinese demand
  • Soybean futures up 0.8% at $9.01-3/4 a bushel (0129GMT)
  • Corn futures up 0.4% at $3.88 a bushel
  • Wheat futures up 0.1% at $5.70-1/2 a bushel

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

  • Kenya senate special sitting for Kiambu governor Waititu impeachment hearing continues
  • Egypt, Sudan & Ethiopia GERD talks in Washington; 28-29 Jan
  • Bank of Ghana MPC meeting; 27-31 Jan

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

  • Sudan investigating transfer of guards from UAE to Libyan oil port – ministry
  • Militia clashes in Central African Replubic kill around 40
  • Vodafone to sign MoU with Saudi Telecom for Egypt unit stake sale – Egyptian govt
  • Egypt calls for dialogue over US Mideast peace plan
  • 31 killed in militant attack on Burkina Faso village – govt
  • West Libyan forces claim downed drone as Turkish support arrives
  • Africa Oil – Bonny Light pipeline fixed, coronavirus weighs
  • Vanguard weighs trimming oil exposure within emerging market debt fund
  • South Africa’s rand, bonds recover slightly from virus-related selloff
  • Crowded Lagos to ban motorbikes from most of Nigerian metropolis
  • South African photographer of ‘black lives’ Santu Mofokeng dies aged 63
  • South African Airways gets 3.5 bln rand emergency funding from state-owned bank
  • IMF: Ethiopia GDP to grow at 6.2% at 2020 fiscal year
  • Ivory Coast’s Soro says he remains presidential candidate despite warrant
  • Kenyan GDP expected to grow 6.2% in 2020, central bank says
  • Burkina Faso farming town struggles to cope with fallout of violence
  • Ghana 2019/20 cocoa arrivals reach 596,000 T by Jan. 16 – Cocobod
  • Uganda shilling unchanged as banks, importers stay on sidelines
  • Ethiopian who demanded justice now has a half a year to deliver it
  • Nigeria and the Oxford English Dictionary ‘rub minds’
  • South Africa’s Eskom could need 20 years to meet new emissions rules
  • Telecom Egypt shares rise on reports of Vodafone Egypt stake sale
  • Egypt signs 2 Mediterranean deals with Exxon Mobil – ministry
  • South Africa’s rand firms slightly but sentiment stays weak on coronavirus

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

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