macroafricaintel Daily Brief | 13 Jul

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

Global Markets

  • Asian shares extend rally, US earnings to test optimism
  • Asia ex-Japan share index near 5-mth top
  • Markets brace for US earnings season
  • Investors upbeat even as coronavirus cases surge in US

Oil Markets

  • Oil slips as traders eye supply cut easing at OPEC meeting
  • OPEC JMMC to meet Tues-Wed to decide on supply cuts
  • Libya exports first crude cargo in 6 mths
  • Brent down 27 cents at $42.97 a barrel (0114GMT)
  • WTI down 28 cents at $40.27

Precious metals

  • Gold holds firm above $1,800/oz. on virus fears, weaker dollar
  • Spot gold up 0.3% at $1,803.80/oz. (0303GMT)
  • US gold futures up 0.4% at $1,809.10/oz.

Grains

  • Corn drops 2.5% on US rain relief
  • Corn futures down 2.5% at $3.36-1/4 a bushel (0022GMT)
  • Soybeans down 0.7% at $8.84-1/2 a bushel
  • Wheat down 1.5% at $5.26-1/4 a bushel

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

  • Nigeria presents 2nd national voluntary review on SDGs to the UN
  • Electoral Commission of Ghana briefs press on ongoing voter registration
  • Kenya SGR resumes operations
  • Nigeria suspended anti-graft chief reappears before probe committee
  • Nigeria doctors in Lagos go on 3-day strike
  • 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 parties seek to oust parliament speaker, Islamists want new govt
  • South Africa reimposes alcohol ban, curfew as coronavirus cases spike
  • Libya’s NOC resumes force majeure, says UAE behind oil blockade
  • Sudan to allow drinking alcohol for non-Muslims, ban FGM
  • Mali opposition rejects president’s concessions aimed at ending impasse
  • Saudi Telecom extends Vodafone Egypt stake purchase for second time
  • Mali opposition says more leaders arrested after mass protest
  • Libya’s LNA says blockade on oil will continue
  • Congo justice minister resigns after judicial reform dispute
  • Five killed in attack on South Africa church, hostages freed
  • Mali police fire gunshots and tear gas to disperse protesters
  • Mali’s state television ORTM goes off-air after protesters occupy building
  • Africa Oil – Nigeria likely to slip, Angola lingers
  • South Africa set to make SAA funding commitment, official says
  • Ethiopia arrests suspects in the killing of popular singer
  • South Africa’s Denel seeks to revise bailout conditions to survive
  • Nigeria suspends anti-graft chief during investigation into agency
  • Germany says suspected Egypt spy had no access to sensitive data
  • Moody’s: Ethiopia political tensions are credit negative
  • South Africa’s banks mull how to avoid loan defaults when virus relief ends
  • South Africa’s Eskom implements first power outages in months
  • Uganda cracks down on media ahead of elections in 2021, watchdog says
  • Burkina Faso queries Human Rights Watch report on army killings
  • Libya lifts exports force majeure but says output recovery to be slow
  • Botswana gets first test results on elephant deaths
  • Nigeria president signs revised 2020 budget into law – aide
  • Premier of South Africa’s Gauteng province tests positive for covid-19
  • Uganda shilling firms on low demand for dollars
  • Kenya shilling under pressure against dollar

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

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