macroafricaintel Daily Brief | 23 Sep

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

Global Markets

  • Asian stocks struggle to build on Wall Street gains, dollar rises
  • MSCI AxJ index trades either side of flat
  • Dollar strength points to persistent caution
  • Brent at $41.34, gold steady at $1,900

Oil Markets

  • Oil down after US crude inventories rise against expectations
  • Brent down 0.7% at $41.42 a barrel (0347GMT)
  • WTI down 0.9% at $39.46

Precious metals

  • Gold loses sheen as robust dollar weighs
  • Spot gold down 0.2% at $1,894.69/oz. (0348GMT)
  • US gold futures down 0.5% at $1,898/oz.


  • Soybeans slips for third day on US harvest pressure, wheat eases
  • Harvest-friendly US weather to boost soybean, corn supplies
  • Soybean futures down 0.2% at $10.17-1/2 a bushel (0326GMT)
  • Corn down 0.3% at $3.68 a bushel
  • Wheat down 0.4% at $5.56 a bushel

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

  • Bank of Mauritius decides interest rates [fcst. 1.85%, prev. 1.85%]
  • Ghana NDC flagbearer Mahama briefing on voters register expected
  • Ghana health workers continue strike
  • Bank of Ghana meets on rates; decision on 28 Sep [fcst. 14.5%, prev. 14.5%]
  • Ghana’s EC displays new voters register; 18-25 Sep
  • 75th session of UN General Assembly (15-30 Sep); speeches & engagements by African leaders
  • South Africa state capture inquiry continues
  • Covid-19 updates by authorities across the continent

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

  • Nigeria’s main unions to strike over petrol, power price hikes
  • Egypt’s Sisi committed to ridding Libya of militia, regional interference
  • Ivory Coast ruling party says will hold election with or without opposition
  • Glencore says DRC Kamato Copper Company ramping up to full production
  • Macron tells Mali junta to hand power back to civilians quickly
  • Cameroon opposition say one killed in protest against veteran ruler
  • Zimbabwe to gradually re-open schools from Oct 26
  • France’s Macron says working for new Libya meeting to solve crisis
  • Uganda’s public debt surges in coronavirus crisis, central bank says
  • South Africa’s rand recovers after sell-off, stocks slide
  • Libya’s NOC says output to rise as it seeks to revive oil industry
  • Kenya’s parliament to challenge dissolution bid over lack of women
  • Nigeria’s central bank cuts benchmark rate to 11.5% in unexpected move
  • Ivory Coast to boost cocoa processing with 2 new factories
  • Libya’s NOC lifts force majeure at Zueitina oil terminal
  • Angola’s Sonangol reports EBITDA of $4.8 bln in 2019 – statement
  • Cameroon police break up opposition protests with tear gas, water cannon
  • East Mediterranean states formally establish Egypt-based gas forum
  • Insurgency in Mozambique threatens food security, says World Food Programme
  • Coronavirus accelerates Nigeria’s digital banking push
  • Meet the woman driving a motorbike taxi in eastern Congo
  • South Africa’s rand falls again on second wave infection fears
  • Turkey says EU sanctions on Turkish firm over Libya embargo show bias

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

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