macroafricaintel Daily Brief | 28 Sep

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

Global Markets

  • Chinese stocks underpin Asia; markets wary of virus spike, US presidential debate
  • Asia ex-Japan shares gain led by China; Nikkei rises too
  • Oil prices lower on rising virus cases
  • Investors jittery ahead of US presidential debate on Tues

Oil Markets

  • Oil slips as surge in virus cases cloud demand recovery
  • Iran ramps up shipments in Sept; Libya resuming exports
  • Workers’ strike threatens Norway’s output
  • Brent down 0.6% to $41.69 a barrel (0243GMT)
  • WTI down 0.5% at $40.04

Precious metals

  • Gold inches higher on subdued dollar; Trump-Biden debate in focus
  • Spot gold up 0.1% at $1,861.02/oz. (0326GMT)
  • US gold futures down 0.1% at $1,863.70/oz.


  • Corn, soybeans rise on S.American dryness; wheat firms
  • Soybean futures up 0.2% at $10.00-3/4 a bushel (0321GMT)
  • Corn up 0.1% at $3.65-1/2 a bushel
  • Wheat up 0.2% at $5.45-1/4 a bushel

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

  • Nigerians wake up to news they have to go to work
  • Bank of Ghana decides on rates [fcst. 14.5%, prev. 14.5%]
  • Ghana’s NDC flagbearer Mahama campaigns in Bono region
  • South Africa producer inflation Aug-20 [fcst. 2.5% yy, prev. 1.9%]
  • 75th session of UN General Assembly (15-30 Sep); speeches & engagements by African leaders
  • Potential constitutional crisis in Kenya in focus; 12th Oct deadline by lawyers’ body LSK for dissolution of parliament
  • South Africa state capture inquiry continues
  • Covid-19 updates by authorities across the continent
  • Central Bank of Kenya decides on rates (29 Sep) [fcst. 7.0%, prev. 7.0%]
  • South Africa consumer inflation Aug-20 (30 Sep) [fcst. 3.7% yy, prev. 3.2%]
  • South Africa PSCE Aug-20 (30 Sep) [fcst. 3.5% yy, prev. 5.1%]
  • South Africa M3 Aug-20 (30 Sep) [fcst. 10.1% yy, prev. 10.5%]

Key African events or data releases over the weekend & early a.m today

  • Nigeria’s main unions suspend planned strike after govt talks
  • Diplomat named Mali PM, meeting regional bloc demand for civilian
  • Mali president names diplomat Moctar Ouane as interim prime minister
  • South Africa defence minister’s pay docked over use of military plane
  • Sudan rejects linking removal from US terrorism list with Israel ties
  • Suspected militants kill at least 11 in attack on convoy in northeastern Nigeria
  • Tremors felt in Cape Town after earthquake off South Africa coast
  • CAR President Touadera announces second term bid
  • Ivory Coast says new West Africa currency launch may take five years
  • Palestinians say Egypt fire killed two Gaza fishermen
  • Congo security forces thwart rebel attempt to seize mining hub
  • Armed militia kills at least 15 people in western Ethiopia
  • Togo’s prime minister & govt resign, presidency says
  • Nigeria air travel could shut as unions pledge to join strike
  • Ethiopia tells UN ‘no intention’ of using dam to harm Egypt, Sudan
  • US to provide $720 mln Syria aid & funds for Sahel, South Sudan
  • ‘Hotel Rwanda’ inspiration tells court he did not direct attacks
  • For Uganda activist, Covid curbs set new hurdle in climate fight
  • ‘Groundbreaking’ Lesotho study reveals high cost of domestic violence
  • Shell books tanker to load crude at Libya’s Zueitina oil port
  • Severe flooding in South Sudan displaces more than 600,000 – UN
  • Israel becomes new obstacle for Sudan in quest to leave US terrorism list
  • South Africa to purchase 6,800 MW of solar, wind power, says energy minister
  • Land hunters: App matches Zimbabwe’s farmers with vacant plots

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

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