macroafricaintel Daily Brief | 30 Jun

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

Global Markets

  • Asia stocks up as China PMI, US data cheer markets worried over coronavirus surge
  • Equities see positives in economic data
  • Hong Kong shares not phased by China security bill
  • Coronavirus surge remains a risk to markets

Oil Markets

  • Oil prices slip as weak Japan data exposes market jitters over fragile demand
  • Brent down 0.8% at $41.53 a barrel (0038GMT)
  • WTI down 1% at $39.32

Precious metals

  • Gold poised for best quarter in four years as virus fears persist
  • Spot gold steady at $1,771.30/oz. (0306GMT)
  • US gold futures up 0.2% at $1,783.80/oz.

Grains

  • Soybeans edge higher ahead of USDA report
  • Soybean futures up 0.3% at $8.69 a bushel (0101GMT)
  • Corn down 0.2% at $3.25-1/4 a bushel
  • Wheat down 0.5% at $4.84 a bushel

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

  • Electoral Commission Ghana starts voter re-registration exercise
  • EU leaders meet G5 Sahel heads of state in Mauritania
  • Nigeria’s Buhari flags off section of Trans-Nigeria gas pipeline
  • Kenya & Uganda publish June inflation data
  • South Africa’s central bank publishes money & credit statistics
  • South Africa state capture inquiry continues
  • 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

  • Nigeria’s slave descendants hope race protests help end discrimination
  • Congo president vows not to accept judicial reforms that cause ‘harm’
  • Senegal lifts covid-19 state of emergency to protect economy
  • Macron slams Turkey’s ‘criminal’ role in Libya, Putin’s ambivalence
  • Saudi crown prince, Nigerian president discuss OPEC+ deal compliance
  • South Africa court sides with Eskom in clawback dispute
  • Libya’s NOC confirms international talks on resuming oil output
  • South Africa’s Naspers posts 4.5% fall in full-year profit
  • South Africa’s MTN allows customers to pay for online shopping using mobile money
  • Algeria annual inflation rises in May
  • Four aid workers say militants abducted them in northeast Nigeria
  • Nigeria to ease covid-19 curbs on inter-state travel and students
  • Matonge, An African home in Brussels
  • Nigeria to allow travel between states outside curfew hours from July 1
  • Lesotho’s former first lady granted bail in murder case
  • Libya tribal leaders says oil output to resume
  • Uganda power distributor Umeme to invest $83 mln to boost network
  • “On our knees”: Kenya tourism revenue collapses
  • Malawi names former insurance executive as finance minister
  • Kenya shilling holds steady against the dollar
  • Burundi’s new cabinet includes two under Western sanctions over rights abuses
  • Kenya loses 80 bln shillings in tourism revenue due to coronavirus
  • Libya’s NOC confirms international talks on resuming oil output
  • Potato diplomacy as Malta seeks new era of Namibia relations
  • West Africa instability risks gains against militants – French official
  • South Africa firm aims to plug covid-19 test kits shortage as virus spreads
  • France warns political uncertainty in Mali, Burkina risks recent progress
  • Uganda shilling a touch stronger as charity flows offer support
  • Spain says PM off to Africa, EU’s list of safe nations ready soon

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

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