macroafricaintel Daily Brief | 6 Aug

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

Global Markets

  • Dollar wallows and stocks inch higher as stimulus eyed
  • MSCI AxJ up 0.3% to highest since January
  • BoE, RBI, US fiscal deal eyed
  • Brent up 0.1% at $45.23, WTI steady at $42.15

Oil Markets

  • Oil prices struggle to hold 5-mth high amid pandemic worries
  • Brent up 6 cents at $45.23 a barrel
  • WTI down 3 cents at $42.16

Precious metals

  • Gold steadies near record high as dollar stumbles
  • Spot gold steady at $2,039.75/oz. (0042GMT)
  • US gold futures up 0.3% at $2,055.90/oz.

Grains

  • Soybeans slip for 3rd session as US weather boosts crop outlook
  • Rains in US Midwest to boost corn, soybean crops
  • Wheat falls on lack of demand for US supplies
  • Soybean futures down 0.1% at $8.77-3/4 a bushel (0313GMT)
  • Corn up 0.2% at $3.22-3/4 a bushel
  • Wheat down 0.4% at $5.08-3/4 a bushel

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

  • Kenya senators go on retreat to resolve county revenue allocation row
  • WHO experts arrive South Africa to help with Covid-19 response
  • 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

  • Gambia imposes curfew as coronavirus cases surge 60% in a week
  • Somalia expects to announce winners of first petroleum auction early 2021
  • US imposes sanctions on Zimbabwe businessman, company
  • Telkom Kenya pulls the plug on merger with Bharti Airtel
  • Egypt-operated ship was unloading wheat in Beirut as port blast hit – director
  • Covid-19 cases slow in South Africa hotspot provinces, minister says
  • Moderna says discussing supply deals with countries for Covid-19 vaccine
  • Uganda tough approach curbs Covid, even as Africa nears 1 mln cases
  • South Africa diamond polishers look to lockdown lovers to add shine
  • EU effort to stem African migration leaves some ex-smugglers empty handed

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

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