macroafricaintel Daily Brief | 29 Jun

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

Global Markets

  • Asia stocks wary as coronavirus threatens economic reopening
  • Asia ex-Japan eases off 4-mth top, S&P 500 futures steady
  • Deaths from covid-19 reached half a million on Sunday
  • Dollar, bonds supported on safe haven appeal

Oil Markets

  • Oil falls in second straight session as virus cools demand
  • Brent down 1.6% at $40.36 a barrel (2350GMT)
  • WTI down 1.6% at $37.86

Precious metals

  • Gold climbs as fears over surging virus cases boost demand
  • Spot gold up 0.1% at $1,772.61/oz. (0015GMT)
  • US gold futures up 0.3% at $1,785.90/oz.


  • Corn rebounds from 6-wk low, bearish fundamentals cap gains
  • Corn futures up 0.4% at $3.18-1/4 a bushel (0218GMT)
  • Soybeans up 0.2% at $16.73-1/2 a bushel
  • Wheat up 0.2% at $4.76-3/4 a bushel

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

  • South Africa state capture inquiry resumes
  • Electoral Commission Ghana press briefing on new voters register
  • 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

  • Guinea-Bissau president sacks five ministers
  • Sudan extends coronaviru lockdown in Khartoum state
  • Sudan says it will rein in state firms, including those owned by security
  • Egypt court jails belly dancer for ‘debauchery’ in social media crackdown
  • Malawi’s Chakwera sworn in as president after re-run election
  • Congo PM threatens govt resignation over minister’s arrest
  • Sudan extends closure of Khartoum international airport by two weeks
  • Congo’s justice minister released hours after arrest
  • Egypt, Ethiopia & Sudan hope for Nile dam deal in weeks
  • More than 90% of issues in Nile dam negotiations resolved, AU chief says
  • Facing defeat, Malawi president says election re-run had irregularities
  • Insurgents stage ‘very violent’ attack close to gas projects in Mozambique
  • Ghana’s President Akufo-Addo choses by ruling party for poll rematch against Mahama
  • Guinea-Bissau braces for rise in coronavirus cases, enlists Cuban medical help
  • Tunisia reopens borders to tourists after halting spread of coronavirus
  • Sudan, Egypt say Ethiopia will not fill Nile dam without reaching deal
  • Morocco rejects Amnesty’s allegations on spying on journalist
  • IMF board approves $5.2 bln, 12-mth loan program for Egypt
  • Zimbabwe suspends stock exchange, mobile payments over ‘economic sabotage’
  • Ivory Coast’s Air Cote d’Ivoire says propped up by $24 mln from govt
  • East Congo ebola outbreak no longer an international emergency, says WHO
  • South Afriac to reopen casinos and cinemas despite covid-19 spread
  • UK Export Finance set to back Total’s $20 bln Mozambique LNG project – source
  • MTN to challenge Ghana regulator’s move to reduce market dominance
  • Ivory Coast flash floods kill at least seven, more rain expected
  • Congo president wins approval for state mining company nominees
  • South Africa’s Sasol to sell stakes in Mozambique pipeline, power plant – sources
  • Nigeria needs to deepen reforms to boost growth, revenues – World Bank
  • Ethiopia receives 12 bids for two telco licences – regulator
  • Libya’a NOC says Russia mercenaries entered oilfield, with output blocked
  • Congo aims to launch state cobalt monopoly in two mths, mines minister says
  • Kenya Airways estimates coronavirus revenue loss at $100 mln – CEO
  • Kenya central banker sees silver lining in economic gloom
  • Uganda – Hit the brakes on reform, say Kampala’s transport workers
  • Kenya cbank says current account gap could be narrower than forecast

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

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