macroafricaintel Daily Brief | 25 Sep

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

Global Markets

  • Asian shares rise on tech rally, renewed stimulus hopes
  • MSCI Asia ex-Japan +0.66%; Nikkei +0.62%
  • Asian shares posted biggest drop in more than 3 mths Thursday
  • Dollar steady after retreating from 2-mth highs

Oil Markets

  • Oil gains but heading for weekly fall over coronavirus demand concerns
  • Brent up 17 cents at $42.11 a barrel (0346GMT)
  • WTI up 16 cents at $40.47

Precious metals

  • Gold edges higher on US stimulus hopes; set for worst week in six
  • Spot gold up 0.1% at $1,869.47/oz. (0341GMT)
  • US gold futures down 0.4% at $1,870.30/oz.

Grains

  • Soybeans flat, set for first weekly loss in 7 on US harvest pressure
  • Soybeans slid 4.1% this week
  • Wheat set to end week with nearly 5% decline
  • Corn has lost more than 3% in week thus far

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

  • Mali swears in interim civilian president
  • South Africa’s Ramaphosa meets education & health workers’ union
  • Ghana’s president & NPP flagbearer Akufo-Addo tours Western North 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
  • Potential consititutional crisis in Kenya in focus; 12th Oct deadline for dissolution of parliament by lawyers’ body LSK
  • 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

  • US to provide $720 mln Syria aid and funds for Sahel, South Sudan
  • Egypt cuts interest rates by 50 bps as inflation subsides
  • Ethiopia charges 2,000 over violence after singer’s killing – attorney general
  • Kenya anti-graft agency slams procurement of Covid-19 equipment
  • Kenya High Court suspends move to dissolve parliament over lack of women
  • Somalia meeting most targets on road to debt relief, says IMF
  • France opens probe into BNP Paribas over its role in Sudan
  • Ghana raises 2020/21 cocoa farmgate price by 28%
  • South Africa hit ‘Jerusalema’ inspires people worldwide to shake off Covid-19 blues
  • UK seeks to seize $39 mln from lawyer who helped corrupt Nigeria politician
  • Kenya should renegotiate China rail loan, parliamentary panel says
  • Kenya’s WTO candidate says she will focus on climate change if selected
  • Could Egypt’s MeToo movement be the tinder for a ‘feminist revolution’?
  • ‘Be prepared’: With water scarcer, Egypt pushes farmers to use much less
  • Nigeria collector hopes to boost local pride in artistic heritage amid Black Lives Matter backdrop

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

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