macroafricaintel Daily Brief | 1 Sep

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

Global Markets

  • Asian stocks edge up after strong China manufacturing survey
  • Dollar hits 2-yr trough as Fed commits to easy policy
  • Despite stock pullback, S&P posts best August since 1986
  • Brent up 0.6% at $45.55/barrel
  • Gold up 0.6% at $1,980/oz.

Oil Markets

  • Oil prices rise on falling US dollar
  • Brent up 1.1% at $45.77 a barrel (0406GMT)
  • WTI up 0.9% at $42.98

Precious metals

  • Gold rises to 2-wk high as dollar stumbles
  • Spot gold up 0.7% at $1,983.77/oz. (0041GMT)
  • US gold futures up 0.6% at $1,990/oz.


  • Corn drops 1% on US crop report, soybeans ease after rally
  • Corn futures down 0.8% at $3.55 a bushel (0335GMT)
  • Soybeans down 0.1% at $9.53 a bushel
  • Wheat up 0.2% at $5.53-1/2 a bushel

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

  • Ghana resumes international flights
  • AfDB chief Adesina takes oath of office for 2nd term
  • South Africa ABSA manufacturing PMI Aug-20 [prev. 51.2]
  • Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today

  • Guinea’s Conde accepts nomination to seek third term
  • Algeria approves more measures to ease coronavirus lockdown
  • Sudan signs peace deal with key rebel groups, some hold out
  • South Africa’s Ramaphosa seeks to stamp authority on ANC after corruption scandals
  • Zimbabwe says foreign white farmers can apply to get back seized land
  • Niger floods kill 51, drive thousands from their homes
  • Nigeria sets capital rules for mobile money licences
  • South Africa’s ruling party says officials charged with corruption must step aside
  • US, UK, Norway, welcome peace agreement in Sudan
  • ‘Hotel Rwanda’ hero arrested on terrorism charges
  • Ivory Coast rain sufficient for developing cocoa pods, say farmers
  • Zimbabwe tobacco sales down 23.5% after poor rains
  • South Africa’s Sasol Lake Charles plant remains shut following Hurricane Laura
  • South Africa’s RCL Foods points to recovery after annual loss
  • Sudan signs historic peace deal with five rebel groups
  • With borders closed, South Africa pins hopes on cash-strapped local tourists
  • AngloGold Ashanti, Barrick Gold to sell ‘Morila the gorilla’ stakes

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

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