macroafricaintel Daily Brief | 30 Sep

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

Global Markets

  • Asian markets dip as investors brace for US presidential debate
  • MSCI Asia ex-Japan shares down 0.1%, Nikkei down 0.2%
  • Spot gold down 0.1% at $1,896.03/oz.
  • Brent down 0.6% at $41.03

Oil Markets

  • Oil drops 2nd day as surging coronavirus cases prompt demand worries
  • Brent down 0.6% at $41.03 a barrel (0048GMT)
  • WTI down 0.7% at $39.29

Precious metals

  • Gold inches lower on caution over Trump-Biden debate
  • Spot gold down 0.1% at $1,896.03/oz. (0034GMT)
  • US gold futures down 0.1% at $1,889.70/oz.

Grains (29 Sep)

  • Corn, soy eases as US harvest advances; USDA data awaited
  • Corn futures settled down 2 cents at $3.64-3/4 a bushel
  • Soybeans ended down 3-1/4 cents at $9.93 a bushel
  • Wheat finished down ¾ cent at $5.49-1/2 a bushel

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

  • Kenya’s Kenyatta meets France’s Macron in Paris; to sign PPP infrastructure deals
  • Central Bank of Kenya’s Njoroge briefs press on MPC decision
  • South Africa consumer inflation Aug-20 (30 Sep) [fcst. 3.7% yy, prev. 3.2%]
  • 2nd Ghana presidential debate; Akufo-Addo yet to agree to debate Mahama
  • Ghana’s ruling NPP flagbearer Akufo-Addo campaigns in Ashanti region
  • Ghana’s NDC flagbearer Mahama campaigns in Bono region
  • 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%]
  • Nigeria FX reserves Sep-20 [prev. $35.7B]
  • South Africa trade balance Aug-20 [prev. ZAR37.42B]
  • 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
  • Covid-19 updates by authorities across the continent

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

  • Algeria’s wheat suppliers to feel impact of Black Sea shift next season
  • Women entrepreneurs in Kenya industry struggle to access credit – study
  • Libya’s Sarir oilfield restarts production, AGOCO says
  • Zambia aims to clinch debt restructuring deal by April – finmin
  • South Africa’s SAA administrators suspend all operations until funding found
  • Zimbabwe suspects bacterial disease behind elephant deaths
  • Nigeria’s FX reserves swell by $200 mln after court ruling, central bank says
  • Ghana cocoa regulator signs $1.3 bln finance deal for 2020/21 season
  • Senegal on verge of unprecedented growth from oil, gas, president says
  • Senegal president sees growth at 13.7% by 2023 thanks to oil, gas
  • South Africa’s Covid-hit carmakers ask govt to cut taxes on new cars
  • Puzzled scientists seek reasons behind Africa’s low fatality rates from pandemic
  • Zimbabwe plans to send dead elephants’ brain tissue to US for toxin tests
  • Pandemic spurs Africa’s mobile telcos to ramp up banking bid
  • Angola energy giant made no money from oil in 2019 as debt bites
  • AngloGold prices $700 mln notes offering

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

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