macroafricaintel Daily Brief | 21 Aug

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

Global Markets

  • Record-breaking stocks take a breather, data weighs on dollar
  • Lull in momentum as Wall Street scales record peaks
  • MSCI AxJ heads for steady week, softest in a month
  • Dollar bounce runs out of puff as US labour market looks weak
  • Brent last up 0.4% at $45.06, gold steady at $1,947.66/oz.

Oil Markets

  • Oil climbs for third straight week, buoyed by producers holding back output
  • Brent up 0.4% at $44.07 a barrel (0158GMT)
  • WTI up 0.2% at $42.90

Precious metals

  • Gold rises as softer dollar, recovery concerns lift demand
  • Spot gold up 0.4% at $1,949.83/oz. (0030GMT)
  • US gold futures up 0.6% at $1,958.30/oz.


  • Soybeans, corn set for 2nd week of gains; US crop outlook weighs
  • Wheat futures up 5.8% so far this week
  • Soybeans on course for weekly gain of 1%
  • Corn set to add 0.7% for the week

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

  • Ghana presidential frontrunners Akufo-Addo & Mahama tour regions
  • Ghana’s ruling NPP launches 2020 manifesto (22 Aug)
  • Kenya’s Kenyatta cabinet reshuffle back in focus
  • 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

  • On Libya’s front lines, Sirte is focus for regional rivalries
  • Morocco may reimpose full lockdown as Covid-19 cases surge – King
  • Miner B2Gold says Mali border shutdown to be short-lived after coup
  • Regional delegation to visit Mali to try to reverse coup as junta, opposition close ranks
  • Mali junta orders border re-opened after coup
  • Somalia pirates release last 3 hostages as armed men attack Panama-flagged ship
  • Scientists peer inside ancient Egypt cat, snake and bird mummies
  • Nigeria to bar flights from countries that block Nigerians – minister
  • Ivory Coast, Ghana create joint body to coordinate cocoa policies
  • France’s Macron asks for quick transition to civilian rule in Mali
  • Senegal port seeks removal of 2,700 tonnes of chemical that caused Beirut blast
  • Mauritius starts to scuttle Japan oil-spill vessel
  • South Africa’s Gold Fields profit jumps on surging bullion prices
  • Libya’s humanitarian crisis deepens, talks needed – Red Cross says
  • Ethiopia protest clashes kill at least nine, most by gunshot, doctors say
  • African beginning to “bend the curve” of coronavirus – Africa CDC
  • Nigeria considers using private firms to coronavirus tests after foreign flights resume
  • OPEC+ needs to fix daily oversupply of more than 2 mln barrels – document
  • Sonae ditches partnership with Angola’s dos Santos in Portugal’s NOS
  • South Africa airports group ACSA gets new funding, shelves projects
  • France says its military operation Barkhane will continue in Mali
  • Uproar after Somali lawmaker presents bill to legalise child marriage
  • Nigeria’s wet market thrive desipite coronavirus pandemic

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

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