macroafricaintel Daily Brief | 10 Aug

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

Global Markets

  • Asia shares cautious as Sino-US tensions weigh
  • MSCI ex-Japan off recent 6-1/2 month high
  • Japan, Singapore on public holidays
  • US fiscal stimulus talks in focus
  • Brent up 40 cents at $44.80
  • Gold at $2,030/oz.

Oil Markets

  • Oil prices rise 1% on Saudi Aramco’s upbeat demand view, Iraq output cut
  • Brent up 0.9% at $44.80 a barrel (0301GMT)
  • WTI up 1.2% at $41.72

Precious metals

  • Gold dips as dollar holds onto gains; US-China spat in focus
  • Spot gold down 0.3% at $2,028.90/oz. (0336GMT)
  • US gold futures up 0.6% at $2,039.20/oz.

Grains

  • Soybeans rebound from 6-wk low, upbeat global supply outlook caps gains
  • Soybean futures up 0.2% at $8.69-1/2 a bushel
  • Wheat up 0.2% at $4.96-1/4 a bushel
  • Corn up 0.4% at $7.53-3/4 a bushel

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

  • AU, ECA, et al. commemorate 3rd Africa civil registration & vital statistics day
  • Ghana opposition NDC press briefing
  • 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

  • Gunmen kill six French aid workers, their driver and guide in Niger – minister
  • Aid group ACTED sasys its staff members caught up in Niger attack
  • Kenya female freedom fighter Mekatilili wa Menza celebrated on Google
  • Libya’s National Oil Corp warns of dangers at oil ports
  • Algeria eases more coronavirus restrictions, including travel curbs and curfew
  • Oil spill threatens ecological disaster as Mauritus declares emergency
  • Uganda presidential hopeful says police used bullets to disperse supporters
  • France offers aid as Mauritius declares emergency over oil spill from stranded vessel
  • Blast rocks military base in Somalia capital, at least 8 dead
  • US imposes sanctions on CAR militia leader
  • Gunmen kill about 20 in attack in eastern Burkina Faso
  • EU drops Morocco from safe country travel list
  • Quake causes panic, damages homes in Algeria
  • Jubilant worshippers return to Lagos mosques
  • Botswana diamond exports fall by two thirds on Covid-19
  • South Africa tries to recover over $23 mln from SAP for ‘unlawful’ contracts
  • World Bank approves $114 mln for Nigeria’s Covid-19 response
  • South Africa’s Denel can’t honour court ruling on salaries – letter
  • Rhino poaching in Namibia down 63% on tougher policing, penalties
  • AngloGold Ashanti moots higher dividend as gold price boosts earnings
  • Ivory Coast opposition says 3rd term for Ouattara would destabilise country
  • Co-op Bank Kenya to complete Jamii Bora Bank acquisition this month – central bank
  • Uganda prisoner population surges, raising fears of Covid-19 outbreak
  • Rape victims ‘denied justice’ in Ghana by costly medical fees
  • Record bullion prices give South Africa gold miners a lifeline, risks remain
  • Egypt’s sex assault accusations spotlight social stigmas

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

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