macroafricaintel Daily Brief | 24 Sep

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

Global Markets

  • Asian shares tumble as global recovery hopes falter
  • MSCI Asia ex-Japan -1.32%; Nikkei -0.74%
  • US Fed officials call for more fiscal support
  • Gold near 2-mth lows on strong greenback

Oil Markets

  • Oil falls on fuel demand growth concerns as coronavirus lingers
  • Brent down 0.7% at $41.49 a barrel (0217GMT)
  • WTI down 0.9% at $39.57

Precious metals

  • Gold falls to over 2-mth low on stronger dollar
  • Spot gold down 0.3% at $1,858.08/oz. (0049GMT)
  • US gold futures down 0.3% at $1,862.30/oz.

Grains

  • Soybeans, corn hit 1-wk low as US harvest advances
  • Soybean futures down 1.2% at $10.02-3/4 a bushel (0305GMT)
  • Corn down 0.9% at $3.65-1/4 a bushel
  • Wheat down 1.1% at $5.42-3/4 a bushel

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

  • South Africa marks Heritage Day; Ramaphosa to speak
  • Ghana’s president & NPP flagbearer Akufo-Addo tours Western North region
  • Ghana NDC flagbearer Mahama speaks on electoral process thus far
  • Nigeria’s Buhari commissions key SGR line in oil-rich region
  • 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

  • CAR MPs vote to keep Dec. 27 election on track
  • Nigeria pop star Yemi Alade wants to hleop women in new UN role
  • Ivory Coast to free opposition leader’s allies in pre-vote peace gesture, spokesman says
  • Nigeria auction bonds at lower yields after surprise rate cut
  • West Africa bloc may lift Mali sanctions soon, says envoy
  • Gambia opposition laments failure of bid to curb term limits
  • Eastern Libya forces say they killed militant group leader
  • Somalia president names newcomer Roble premier as elections loom
  • Nigeria gas tanker explosion kills at least 28
  • Three Egypt policeman, four militants killed in prison break attempt
  • Kenya’s Maasai gather for once-in-a-decade ceremony to turn warriors into elders
  • Gambia MPs reject retroactive bill curbing term limits as unlawful
  • Mali risks “economic paralysis” from post-coup embargo – trade group
  • Egypt orchestra for visually-impaired women resumes concerts amid coronavirus
  • Sudan discusses Arab-Israel peace & terrorism list with US – statement
  • First tanker to load crude at Libya’s Hariga port since January
  • Mozambique asks EU for help in tackling insurgency
  • Tanker to enter Libya’s Hariga port, load 1 million barrels of oil
  • Nigeria’s Buhari to send long-awaited oil reform bill to Senate – sources
  • Kenya harnesses fly larvae’s appetite to process food waste
  • China’s BGI wins 1.5 mln coronavirus test kit order from Ethiopia
  • South Africa set for wave of equity fundraising as banks shun risk

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

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