macroafricaintel Daily Brief | 3 Jul

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

Global Markets

  • US markets closed for July 4 holiday
  • Asia shares hit 4-mth high as US, China recoveries gather pace
  • Shanghai shares hit 14-mth high on service sector recovery
  • US payrolls jump 4.8 mln but hurdles lie ahead
  • Rising US covid-19 cases threaten US recovery

Oil Markets

  • Oil falls as growing coronavirus cases stoke fuel demand worries
  • Brent down 0.9% at $42.77 a barrel (0042GMT)
  • WTI down 0.8% at $40.31

Precious metals

  • Gold steadies in tight range as virus fears offset solid US jobs data
  • Spot gold unchanged at $1,775.12/oz. (0232GMT)
  • US gold futures down 0.1% at $1,787.80/oz.

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

  • South Africa’s Ramaphosa visits Mpumalanga to assess province’s covid-19 response
  • Kenya roadmap on reopening worship centres expected; Kenyatta covid-19 measures speech expected on Monday [Or during weekend; cabinet reshuffle could be announced]
  • Electoral Commission Ghana voter re-registration continues
  • 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

  • US welcomes independent probe of report that cleared African Development Bank chief
  • Mining magnate Gertler denies skirting US sanctions in Congo
  • Attackers on motorbikes kill 32 Mali villagers, local officials say
  • Small homemade bomb explodes in Cameroon capital, official says
  • South Africa to keep 20,000 soldiers on covid-19 duty until September
  • Botswana investigating mystery deaths of at least 275 elephants
  • Portugal to take then selll majority stake in Efacec firm of Angola’s dos Santos
  • Lockdown ends in Nigeria’s Kano, where coronavirus killed hundreds
  • Namibia considering options for struggling national flag carrier – finmin
  • South Africa telecoms regulator moves to finalise spectrum licensing
  • Slain Ethiopia singer electrified a generation with songs of freedom and protest
  • Sierra Leone doctors’ strike leaves covid-19 patients stranded
  • Pump or dump? With oil in decline, Africa ponders its energy future
  • Two killed in clashes as mourners struggle to get into Ethiopia singer’s funeral
  • South Africa man dragged naked from shack sparks legal action against evictions
  • Six hurt in scuffles with security forces at Ethiopia singer’s funeral
  • South Africa rand firmer as currnet account surplus adds to global risk boost
  • OPEC basket oil price rises above $40 for first time in 4 months
  • South Africa’s SAA administrators aim to publish revised plan on July 7
  • Canadian arrested in Egypt early in 2019 returns home after release, needs medical treatment
  • Pirates kidnap nine in attack on vessel off Nigeria, says ship owner
  • South Africa refinery explosion kills two, injures seven
  • Pandemic costs Africa travel, tourism almost $55 bln
  • Kenya shilling seen on back foot, Tanzania’s firming; in week ahead
  • Africa does not have manifold undetected coronavirus infections – WHO
  • As pandemic spreads, Congo poet warns in music video of ‘empty cooking pots’
  • South Africa – CMA CGM drops port congestion surcharge for Cape Town
  • Angola resists OPEC pressure to comply fully with oil cuts – sources
  • Eight years after bombing, Somalia reopens national theatre
  • Kenya shilling holds steady against the dollar
  • South Africa records first current account surplus in 17 years
  • Explosion at Astron Energy’s South Africa refinery kills at least 2 – source
  • World food price index rises in June, first increase in 2020 – UN
  • How to rid East Africa of locusts? Serve them in a kebab or drive them to cannibalism

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

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