By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asian shares nudge up as virus spread slows, euro fragile
- Sentiment remains fragile due to worries about virus
- 3-mo/10-yr treasury yield curve inverts
- Weak German data pummels euro
Oil Markets
- Oil inches higher, but gains capped by widening economic impact of coronavirus outbreak
- Brent up 6 cents at $57.81 a barrel (0149GMT)
- WTI up 7 cents at $51.97
Precious metals
- Gold eases as drop in virus cases lifts risk appetite
- Spot gold down 0.1% at $1,600.67/oz. (0037GMT)
- US gold futures unchanged at $1,603.60/oz.
Grains
- Wheat retreats from 3-wk high as traders book profits
- Wheat futures down 0.4% at $5.64-1/4 a bushel (0149GMT)
- Soybean futures up 0.1% at $8.93-1/2 a bushel
- Corn futures down 0.3% at $3.82 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Bank of Namibia interest rate decision [fcst. 6.25%, prev. 6.5%]
- South Africa inflation Jan-20 [fcst. 4.4% yy, prev. 4.0%]
- Bank of Zambia post-MPC press briefing [fcst. 11.5%, prev. 11.5%]
- Global off-grid solar forum & expo 2020 in Nairobi; 18-20 Feb
- South Africa’s parliament debate Ramaphosa State of the Nation Address; 18-19 Feb
- South Africa state capture inquiry continues
Key African events or data releases yesterday & early a.m today
- Libya oil production at 123,537 bpd as of Feb. 18 – NOC statement
- Libya’s internationally recognized govt suspends ceasefire talks in Geneva
- Eastern Libyan forces strike Tripoli port in new escalation
- Libya’s NOC evacuates fuel vessels from Tripoli port, halts offloading after forces strike
- Zimbabwe threatens to withdraw mining licences over unpaid fees
- Locusts swarm into South Sudan as plague spreads
- IMF cuts Nigeria’s growth forecast on lower oil price outlook
- Africa Oil – Angolan programme emerges
- US to offer financial support for Ethiopia political reforms – PM
- South Africa’s rand ticks lower as Moody’s stokes downgrade fears
- South Africa’s statistics agency faces funding crisis
- Vessels at port of Libyan capital evacuated after attack – official
- UN Libya envoy says Tripoli port was attacked on Tuesday
- Uganda shilling weakens a touch on uptick in interbank demand
- South Africa’s Eskom needs cash injection to avoid debt crisis – CEO
- Emerging markets need policy mix, not just flexible FX, IMF chief says
- US secretary of state meets Ethiopia’s reformist prime minister
- Kenya sets belt-tightening target for 2021 financial year
- EU adds Seychelles, Cayman Islands, Panama to tax haven blacklist, spares Turkey
- Lesotho leader’s wife murder trial to start next month – court
- Nigeria annual inflation hits near 2-yr high in January; rises to 12.13%
- Kenya shilling weakens against the dollar
- South Africa’s Kumba Iron annual earnings rise on higher ore rates
N.B. Full stories of above headlines are available on Reuters
