macroafricaintel Daily Brief | 1 Oct

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

Global Markets

  • Global shares extend gains on US stimulus, upbeat data
  • S&P 500 up 0.6% in Asia
  • MSCI Asia ex-Japan up 0.3%
  • Australia shares up 1.4%

Oil Markets

  • Oil holds steady on hopes for US stimulus agreement
  • Brent up 3 cents at $42.33 a barrel (0146GMT)
  • WTI down 1 cent at $40.21

Precious metals

  • Gold firms on dollar slide, US stimulus hopes
  • Spot gold up 0.3% at $1,891.10/oz. (0334GMT)
  • US gold futures up 0.1% at $1,897.30/oz.

Grains

  • Corn gains, lingers near 7-mth high on USDA stockpile estimates
  • Corn futures up 0.4% at $3.80-1/2 a bushel (0119GMT)
  • Soybeans up 0.8% at $10.31-3/4 a bushel
  • Wheat up 0.6% at $5.81-1/4 a bushel

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

  • Nigeria independence day; Buhari addresses nation, some protest actions possible
  • South Africa opens borders; travellers from high-risk countries UK, US, France, etc. still barred
  • Kenya’s Kenyatta meets France’s Macron in Paris; signs PPP infrastructure deals
  • South Africa ABSA manufacturing PMI Sep-20 [prev. 57.3]
  • 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

  • Bank of Central African states says regional GDP to shrink 3.1%
  • South Africa to launch long-awaited tender for mobile broadband spectrum
  • Congo ‘jobs-for-sex’ expose prompts calls for greater scrutiny of aid workers
  • Namibia fishing auction for Covid-19 cash flops
  • Proposal to ease Malawi’s strict abortion laws faces religious opposition
  • South Africa invites applications for broadband spectrum bidding
  • South Africa says tourists from high-risk countries still barred from Oct. 1
  • Flooding devastates farms in parts of Sudan – UN
  • Sierra Leone anti-graft body summons ex-president Koroma for questioning
  • OPEC Sept oil output rises for 3rd month on Libya restart, Iran
  • Nigeria’s cabinet proposes 3% economic growth target for 2021 budget
  • Rwanda genocide suspect Kabuga can be sent to UN court
  • Libya rivals agree to further military talks, UN says
  • Rwanda genocide suspect can be extradited to UN tribunal, France court says
  • Poorest countries face tough choice over G20 debt relief plan
  • Kenya’s economy likely to expand by 3.1% this year – central bank
  • Hackers hit South Africa govt fund for children and missing people
  • Pandemic pushes forward new generation of Africa cyclists
  • ‘God chose me’: Congo ebola survivor finds new purpose
  • Nigeria’s pioneering gas flaring plan risks going down in flames
  • South Africa’s Capitec interim profit plunges 78%

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

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