macroafricaintel Daily Brief | 5 Jun

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

Global Markets

  • Asian stocks set for best weekly gain in 9 years, ECB stimulus boosts euro; US jobs eyed
  • US dollar slide continues
  • Euro maintains strength
  • US employment report in view

Oil Markets

  • Oil dips on uncertainty over producers’ commitment to output cuts
  • Brent down 0.1% at $39.94 a barrel (0051GMT)
  • WTI down 0.4% at $37.27

Precious metals

  • Gold gains as equity rally halts, dollar softens
  • Spot gold up 0.2% at $1,714.78/oz. (0056GMT)
  • US gold futures down 0.3% at $1,721.90/oz.

Grains

  • Soybeans set to mark biggest weekly gain in 8 mths
  • Soybean futures up nearly 3.5% so far this week
  • Corn up nearly 1% for the week
  • Wheat up 1% so far this week

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

  • Nigeria releases covid-19 households socio-economic effects survey
  • South Africa’s Ramaphosa in Cape Town to assess WC covid response
  • Ghana eases restrictions on religious gatherings
  • South Africa foreign exchange reserves May-20 [prev. $53B]
  • South Africa SACCI business confidence May-20 [prev. 77.8]
  • OPEC+ meets tomorrow
  • Key African countries on lockdown or restricted; subdued economic activity
  • Covid-19 updates by authorities across the continent

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

  • South Africa dehorns dozens of rhinos to prevent lockdown poaching surge
  • African Development Bank board stands by embattled chief
  • Algeria to ease coronavirus restrictions on Sunday
  • Guinea approves SMB-Winning deal for Simandou iron mine project
  • Vaccines group raises $8.8 bln for immunisation plans for poor countries
  • Uganda to allow firms to defer tax payments to buoy lockdown-battered economy
  • Africa Oil – Nigerian trade slows as IOC results awaited
  • Turkey vows more support to secure gains in Libya conflict
  • WHO says its representative told to leave Equatorial Guinea
  • Eastern forces quit Libya capital after year-long assault
  • ‘I lost my mind’: Ethiopian migrants forced home empty-handed by coronavirus
  • Profit-taking pauses rally in South Africa’s rand, stocks
  • Zambia reviews 2020 budget after covid-19 hits revenue
  • Egypt to prosecute doctor, father over genital cutting of three girls
  • South Africa govt to appeal ruling declaring some covid-19 measures invalid
  • Egypt pound slips to weakest in seven months
  • South Africa miners seek return of foreign mineworkers
  • Tunisia to allow resident firms to borrow from abroad in foreign currencies
  • African countries secure 90 million coronavirus test kits for next six months
  • African currencies seen stable next week
  • Senegal to ease coronavirus curfew as protests spread to capital
  • South Africa’s FirstRand warns profit could fall more than 20%
  • South Africa’s Barloworld hits hurdle over Tongaat’s starch business deal
  • South Africa – AngloGold Ashanti’s Mponeng mine restarts slowly after covid-19 closure
  • South Africa’s FirstRand warns of over 20% profit fall
  • Tunisians emerge from lockdown into mosques and cafes
  • Two girls’ lockdown learning underlines South Africa’s educational divide
  • Egypt bans white sugar imports for 3 months – document
  • Villagers in Togo mourn homes swallowed by the sea
  • Mali’s industrial gold production expected to slump in 2020
  • ‘Hunger or murder”: Lockdown poverty exposes African sex workers to more violence
  • Erdogan hosts Libya PM as Turkey looks to lock in gains
  • Libya’s GNA says it regains control of capital Tripoli
  • World food price index hits 17-mth low in May – UN
  • Kenya private sector up slightly in May, outlook poor – PMI
  • Mozambique expects Exxon gas project decision next year

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.