macroafricaintel Daily Brief | 19 Aug

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

Global Markets

  • Asia stocks at 7-mth highs after Wall Street cracks more records
  • MSCI ex-Japan at highest since late January
  • Australia, South Korea lead gains; Chinese shares in red
  • Dollar at 27-mth low on easy monetary policy
  • Fed meeting minutes awaited
  • Brent down 26 cents at $45.20, Gold back above $2,000

Oil Markets

  • Oil prices skid as concerns over US demand recovery seep through market
  • API says US crude stocks fall 4.3 mln bbls, more than forecast
  • OPEC+ ministerial panel meets later to review compliance on output cuts
  • Brent down 0.8% at $45.08 a barrel (0029GMT)
  • WTI down 0.6% at $42.64

Precious metals

  • Gold inches higher as dollar extends fall; focus on Fed minutes
  • Spot gold up 0.1% at $2,002.12/oz. (0029GMT)
  • US gold futures down 0.1% at $2,011.60/oz.


  • Corn eases as US crop tour forecasts above-average yields
  • Corn futures down 0.7% at $3.39-1/4 a bushel (0250GMT)
  • Soybeans down 0.3% at $9.11 a bushel
  • Wheat up 0.5% at $5.20 a bushel

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

  • Bank of Zambia decides interest rates [fcst. 9.25%, prev. 9.25%]
  • Bank of Namibia decides interest rates [fcst. 3.75%, prev. 4.0%]
  • OPEC+ ministers meet
  • Kenya auctions 11-year infrastructure bond
  • Ghana presidential frontrunners Akufo-Addo & Mahama tour regions
  • South Africa state capture inquiry continues
  • Kenya Senate adhoc committee meets on revenue allocation impasse; after passage failure for umpteenth time
  • Kenya’s Kenyatta cabinet reshuffle back in focus; after cabinet et al. sent on compulsory leave
  • 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

  • Mali president resigns after detention by military, deepening crisis
  • West Africa regional bloc closes borders with Mali after president detained
  • Sudan ‘astonished’ at spokesman’s remarks about ‘contacts’ with Israel
  • UN chief calls for immediate release of Mali president, others
  • Mauritius arrests captain of stricken Japan oil tanker
  • Plaintiffs in Sierra Leone diamond mine lawsuit request freeze of Steinmetz subisidiary’s assets
  • Egypt passes law shielding sex crime victims’ identities
  • Algeria to allow private banks, airlines, sea transport firms
  • Mali protest movement seays detention of president “not a military coup”
  • Mali state television channel goes offline after president detained
  • Mali PM also detained by mutinying soldiers, African Union condemns
  • Zimbabwe shortens coronavirus curfew, extends business hours
  • South Africa smokers empty shops of cigarettes after ban lifted
  • Sudan confirms ‘contacts’ with Israel, says UAE move is ‘brave’
  • Faction of DR Congo rebel group surrenders after internal revolt
  • France condemns mutiny in Mali – foreign minister
  • Ethiopia PM fires defence minister, a one-time ally, in major reshuffle
  • Dozens of Kenya doctors strike over lack of PPE, delayed pay
  • Nigeria’s long-awaited oil reform bill to go to president – sources
  • Ivanhoe Mines & China’s CNMC announce Africa partnership
  • Namibia warns about elephant dung cure for coronavirus as cases rise
  • Sudan, major rebel group sign deal to integrate rebels into army
  • Egypt bank Beltone diversifies in hunt for profitability
  • From Africa to America, businesses and insures face survival showdowns
  • Overfishing in Congo threatens endangered sharks, report warns
  • Mauritius oil clean-up team turns focus from sea to mangroves

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

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