macroafricaintel Daily Brief | 16 Sep

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

Global Markets

  • Asian stocks cheer upbeat data but temper appetite ahead of Fed
  • MSCI Asia ex-Japan +0.5%
  • Yen hits 2-wk high, dollar treads water
  • Gold, US treasury yields flat before Fed statement
  • Brent up 0.8% at $40.85

Oil Markets

  • Oil gains as hurricane shuts US output, stockpiles fall
  • Brent up 0.4% at $40.68 a barrel (0055GMT)
  • WTI up 0.5% at $38.46

Precious metals

  • Gold off 2-wk high as dollar firms ahead of Fed decision
  • Spot gold down 0.2% at $1,952.15/oz. (0026GMT)
  • US gold futures down 0.3% at $1,960.50/oz.

Grains

  • Soybeans extend decline on lower US crush; corn falls
  • Soybean futures down 0.2% at $9.89-3/4 a bushel (0226GMT)
  • Corn down 0.5% at $3.64-1/4 a bushel
  • Wheat down 0.5% at $5.35-3/4 a bushel

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

  • Nigeria banking & finance industry conference; day 2
  • South Africa retail sales Jul-20 [fcst. -6.6% yy, prev. -7.5%]
  • South Africa business confidence Aug-20 [prev. 82.8]
  • South Africa’s SARB decides on interest rates [fcst. 3.5%, prev. 3.5%]
  • Covid-19 updates by authorities across the continent

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

  • South Sudan fighter for women’s voices honored by US peace group
  • West Africa bloc fails to reach agreement with Mali junta
  • UN chief to appoint special envoy to broker peace in Libya
  • Mozambique army condemns ‘horrifying’ shooting of naked woman at hands of fighters
  • Moussa Traore, who led Mali’s first military coup, dies at 83
  • Zimbabwe eases Covid-19 restrictions as exam classes start
  • Gambia’s former first lady Zineb Jammeh hit with US sanctions
  • Egypt TV host’s comments on hijab spark debate, probe by media watchdog
  • AstraZeneca resumes Covid-19 vaccine trials in South Africa, health dept says
  • More than 50 prisoners starve to death in east Congo prison
  • UK says following court case of Zimbabwe journalist
  • Egypt cuts highways across pyramids plateau, alarming conservationists
  • Algeria upholds conviction of journalist; rights groups fear new crackdown
  • At least 24 migrants drowned off Libya – IOM
  • Kenya’s budget deficit likely to swell, finance minister says
  • Mali must appoint civilian govt immediately, says regional bloc
  • ‘There’s nothing we can do’, striking South Africa undertakers tell bereaved
  • Guinea-Bissau migration agency boss arrested for alleged cocaine trafficking
  • Millions of Africa children rely on TV education during pandemic
  • Nigeria health workers strike over coronavirus allowance
  • South Africa coronavirus loan scheme lags, hobbling govt relief package
  • Nigeria’s petrol and power price rises upset business owners

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

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