macroafricaintel Daily Brief | 15 Jun

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

Global Markets

  • Asia stocks, oil fall as second wave fears grow
  • MSCI Asia-Pacific shares ex-Japan down 0.3%
  • Australia shares off 0.1%
  • South Korea easing 0.3%
  • Nikkei down 0.7%

Oil Markets

  • Oil prices drop as rising US coronavirus cases stoke fears of weak fuel demand
  • Brent down 1.7% at $38.07 a barrel (0016GMT)
  • WTI down 2.2% at $35.45

Precious metals

  • Gold steady as second wave fears weigh on risky assets
  • Spot gold steady at $1,729.40/oz. (0316GMT)
  • US gold futures down 0.1% at $1,734.90/oz.


  • Wheat falls on ample supplies, Chinese buying supports soybeans
  • Wheat futures down 0.3% at $5.00-3/4 a bushel (0039GMT)
  • Soybeans down 0.1% at $8.70-1/2 a bushel
  • Corn down 0.1% at $3.29-3/4 a bushel

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

  • Ghana starts phased reopening of schools
  • Nigeria inflation May-20 [fcst. 12.4% yy, prev. 12.3%]
  • Key African countries on lockdown or restricted; subdued economic activity
  • Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today

  • Tunisia PM decides against relying on more external debt, will freeze salaries
  • Morocco’s king undergoes successful heart surgery – agency
  • Ghana’s president says health minister tested positive for covid-19
  • Veteran Congo politician Pierre Lumbi dies from coronavirus
  • Tunisia prime minister decides against relying on more external debt
  • Orange eyes Nigeria, South Africa as possible new markets
  • Egypt to reopen all airports on July 1, aviation minister says
  • Zambia asks Paris Club for suspension of debt payments until December
  • Sudan to introduce direct cash payments to its neediest citizens
  • Sudan extends airport closures by another two weeks due to coronavirus
  • Police officer, two militants killed in Kenya, says security official
  • South Africa consults with industry on nuclear power plans
  • Turkey and Russia put off talks expected to tackle Libya and Syria
  • UN says two peacekeepers killed in an attack on a convoy in Mali
  • Militants kill 20 soldiers, 40 civilians in northeast Nigeria attacks
  • Algeria to further relax coronavirus lockdown
  • Egypt confirms highest daily rise of new covid-19 cases and deaths
  • Death toll in migrant ship disaster off Tunisia rises to 61
  • Egypt registers highest daily rise in coronavirus cases in nearly two weeks
  • Botswana reinstates strict coronavirus lockdown in capital city
  • Somalia’s [militant group] says sets up covid-19 treatment centre
  • Congo’s gold being smuggled out by the tonne, UN report finds
  • Tear gas fired as crowd seizes Kenya pop star’s body to halt hasty covid funeral
  • Nigeria’s daily oil output overfull OPEC+ deal – Kyari
  • Popular 25-yr old Uganda gorilla killed at UNESCO park
  • France launches Sahel coalition to fight rising violence
  • Africa Oil – Differentials slide as virus fears, margins weigh
  • South Africa’s rand recovers slightly after selloff
  • Kenya central bank to hold its rate-setting meeting on June 25
  • Coronavirus exposes ‘brutal inequality’ of South Africa townships
  • Burundi president-elect to take power immediately after death of ex-leader
  • Risk of new lockdowns rises with fear of second covid-19 wave
  • French court allows to access to archives on 1994 Rwanda genocide
  • US report on child labour on West Africa cocoa farms faces review after criticism
  • Leopold not to blame for Congo abuse, Belgian king’s brother says
  • South Africa mobile data-only operator plans 5G expansion
  • Malawi 2020 GDP to shrink if coronavirus persists, finmin says
  • New Lesotho PM Majoro says to focus on stability after scandal
  • Gambia ‘Jungler’ arrested in US for role in torture program
  • South Africa should consider zero-based budgeting, finmin says
  • Activists remove statue of Belgian colonial King Leopold II in Brussels
  • Kenya’s Centum confident can weather coronavirus crisis
  • Kenya shilling biased toward stronger side on remittance flows
  • Uganda shilling inches up as some banks trim positions
  • Ruth, 8, tags along as Great Ethiopian Run goes virtual
  • South Africa’s TymeBank rethinks unsecured loans after coronavirus
  • Coronavirus slams West Africa’s cashew market, some crops left to rot
  • South Africa’s rand bounces back after sell-off
  • Kenya’s Centum Investment says full year pretax profit up 85% to 8.2 bln shillings
  • Ethiopia moves children from streets to shelters to slow coronavirus
  • UN warns coronavirus may push millions of children into underage labour

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

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