macroafricaintel Daily Brief | 17 Sep

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

Global Markets

  • Asian shares open weaker after Fed
  • Nikkei flat, Hang Seng down 0.15%
  • BoJ keeps policy steady
  • Brent down 0.8% at $41.86
  • Gold down 1.1% at $1,938.12

Oil Markets

  • Oil falls as demand worries re-emerge, crews return to US Gulf rigs
  • Brent down 0.8% at $41.86 a barrel (0355GMT)
  • WTI down 1.1% at $39.73

Precious metals

  • Gold drops 1% as dollar rises after Fed’s upbeat economic view
  • Spot gold down 1.1% at $1,938.12/oz. (0321GMT)
  • US gold futures down 1% at $1,951.30/oz.


  • Soybeans hit over 27-mth high on Chinese demand
  • Soybean futures up 0.6% at $10.17-1/2 a bushel (0134GMT)
  • Corn down 0.1% at $3.71-1/2 a bushel
  • Wheat down 0.1% at $5.41-1/2 a bushel

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

  • South Africa’s SARB decides on interest rates [fcst. 3.5%, prev. 3.5%]
  • Kenya counties shut down over revenue allocation standoff
  • South Africa ministerial briefings on ease of Covid-19 restrictions expected
  • Covid-19 updates by authorities across the continent

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

  • Ghana’s economy contracts for the first time in 37 years
  • Head of Libya’s Tripoli govt says he wants to quit
  • Egypt cuts highways across pyramids plateau, alarming conservationists
  • South Sudan president replaces finance minister, state TV reports
  • Covid-19 graft scandals fuel South Africans’ anger with ruling ANC
  • South Africa to open up for international travel from Oct.1, says President
  • Kenya county govts shut down services in dispute over revenue-sharing scheme
  • Mali junta moves toward selecting interim president after embargo threat
  • ‘Hotel Rwanda’ hero could face maximum life in prison, prosecution says
  • West Africa bloc fails to reach agreement with Mali junta
  • More than 50 prisoners starve to death in east Congo prison
  • South Africa’s Discovery reports 94% drop in full-year profit
  • Mozambique army condemns ‘horrifying’ shooting of naked woman at hands of fighters
  • Algeria upholds conviction of journalist; rights group fear new crackdown
  • UN chief to appoint special envoy to broker peace in Libya

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

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