By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia shares fight for footing after turbulent week
- Nikkei bounces 1.3%, still down for week
- China Jan PMI at 50 as expected, services stronger
- WHO confident China steps will contain virus
- Amazon surges 11% as sales beat expectations
Oil Markets
- Oil jumps as WHO declares emergency but recommends no travel, trade restrictions
- Brent up 90 cents at $59.19 a barrel (0243GMT)
- WTI up $1.03 at $53.17
Precious metals
- Spot gold only a shade firmer for the week at $1,572.11/oz.
- Failed to get much of a safe-haven bid [on China virus fears]
- Spot gold up 0.5% at $1,583.93/oz. (1902GMT; 30 Jan)
- US gold futures settles 0.8% higher at $1,583.50/oz. (30 Jan)
Grains
- Soybeans rise for first time in 9 sessions, set to close week 2% lower
- Soybeans remain under pressure as coronavirus fears mount
- Corn firms, set to finish week down more than 1.5%
- Wheat heads for first weekly decline in a month
- Soybean futures up 0.6% at $8.81-1/2 a bushel (0322GMT)
- Wheat futures little changed at $5.60-1/4 a bushel
- Corn futures up 0.3% at $3.80-3/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Bank of Ghana MPC decision & press briefing [fcst. 15.0%, prev. 16.0%]
- US review of preferential trade agreement with South Africa et al.
- Swearing-in of new Kenya’s Kiambu county governor Nyoro
- Kenya inflation Jan-20 [fcst. 6.1% yy, prev. 5.8%]
- Uganda inflation Jan-20 [fcst. 3.8% yy, prev. 3.6%]
- Nigeria FX reserves Jan-20 [prev. $38.68B]
- Nigeria manufacturing PMI Jan-20 [prev. 60.8]
- South Africa trade balance Dec-19 [prev. ZAR6.1B]
- Brexit day; crucial Trump impeachment trial vote also
Key African events or data releases yesterday & early a.m today
- Taiwan’s CPC buys African, US crude for April – sources
- Joint venture between Libya’s National Oil Corp and Italy’s Eni losing 155,000 bpd of oil due to blockade – NOC
- Trump’s Mideast plan is ‘injustice of the century’, US-allied Tunisian president says
- Morocco’s RAM airline suspends flights to China amid coronavirus – state news agency
- US will not completely withdraw forces from Africa – Pentagon chief
- Malawi central bank keeps benchmark rate flat, raises GDP forecast
- Cheap as bread, girls sell sex to survive crisis in Africa
- Ethiopia passes new investment law in bid to reform economy
- Senegal turns to eco-farming to protect food supply as climate change
- Liberia running low on gasoline after reserves go missing
- Ethiopian airlines denies suspending flights to China amid coronavirus
- EU wheat off 3-week low as sale to Egypt lends some support
- Africa Oil – Middle distillate margins weigh amid coronavirus jitters
- UN shuts refugee centre in Libya’s capital as truce crumbles
- Burundi court jails four journalists for harming state security
- Tanzania says may switch off 15 mln SIM cards in biometric registration
- South Africa’s rand falls, stocks lifted by Massmart bounce
- African economic growth to accelerate to around 4% over next 2 years – AfDB
- IMF says South Africa’s economic growth weakened by bailouts
- Egypt’s M2 money supply up 13.28% y/y in December – c.bank
- Egyptair to suspend mainland China flights over coronavirus
- Algeria captures man planning suicide attack – defence ministry
- Egypt preparing special flight to evacuate citizens from China’s Wuhan
- Algerian protests blunted without a shot fired in anger
- Nigeria court issues warrant for former oil minister in OPL 245 case
- South Africa’s resumes power blackouts as emergency capacity dwindles
- MTN South Africa bets on mobile money relaunch to reach millions without bank accounts
- South Africa’s Wescoal to break ground at new coal mine in February – CEO
- Gulf bourses mixed; Telecom Egypt continues rally
- South Africa’s struggling carrier SAA to cut flights to ease cash flow
- College burnt in militant attack in northern Mozambique
- Telecoms firm MTN to invest $1.6 bln in Nigeria – statement
- Nigeria tells travellers to avoid China because of virus
- MTN Uganda says forcing foreign telcos to list locally may not boost Ugandan ownership
- Vodafone stake sale needs Egyptian regulatory approval
- Tech heaven: Drone academy students help map out Africa’s future
- Kenyan logistics platform Sendy raises $20 mln for expansion
- Telecom Egypt’s shares open up 10% following Saudi Telecom bid for Vodafone Egypt
- Kenya shilling strengthens against the dollar
- South Africa’s Massmart forecasts annual loss, to reorganise business
- South Africa’s rand weakens as China virus knocks risk appetite
- South Africa’s credit growth in Dec slows to 6.14% y/y
N.B. Full stories of above headlines are available on Reuters