macroafricaintel Daily Brief | 6 Oct

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

Global Markets
• Asian stocks at 2-wk high as Trump returns to White House
• RBA keeps rates unchanged
• MSCI Asia ex-Japan up 0.7%, Nikkei up 0.4%
• Brent up 0.2% at $41.37

Oil Markets
• Oil gains after Trump’s return to White House
• Brent up 8 cents at $41.37 a barrel (0134GMT)
• WTI up 2 cents at $39.24

Precious metals
• Gold eases after Trump’s discharge, weaker dollar cushions decline
• Spot gold down 0.1% at $1,911.22/oz. (0334GMT)
• US gold futures down 0.2% at $1,915.90/oz.

• Soybeans gain for 2nd session on strong demand, wheat eases
• Soybean futures up 0.5% at $10.26-1/4 a bushel (0217GMT)
• Wheat down 0.5% at $5.81-1/2 a bushel
• Corn up 0.1% at $3.79-3/4 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Ghana ruling NPP’s Akufo-Addo files nomination forms for re-election bid
• Ghana NDC’s Mahama on the campaign trail
• Nigeria’s Buhari convenes joint executive-legislature conference (day 2)
• South Africa’s Ramaphosa convenes AU meeting on Covid-19
• WTO announces final two candidates for DG
• South Africa’s Ramaphosa announces economic recovery plan [expected
during the week]
• Nigeria’s Buhari delivers 2021 budget speech [date TBC]
• Nigeria Stanbic IBTC PMI Sep-20 [prev. 54.6] (6 Oct)
• South Africa FX reserves Sep-20 [prev. $55.75B]
• Nigeria publishes H1-20 states’ revenue report
• 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
• Algeria plans to set up new airline for domestic flights
• Mali announces new govt following August coup
• South Africa amends price system for scrap metal to aid industry
• Libya oil production rises to 290,000 bpd – source
• Kidnapped politician, France aid worker to be freed in Mali prisoner swap
• Rwanda seeks to merge ‘Hotel Rwanda’ hero’s case with that of 18
rebel suspects
• Ethiopia bans flights over dam for security reasons – aviation chief
• Ethiopia says GERD dam will begin generating power in next 12 months
• Ivory Coast cocoa farmers say rains have boosted main crop
• EU wants rules on hydrogen trade with Ukraine, Morocco – Bloc’s energy chief
• US calls for WHO reforms, timely information on outbreaks
• 1 in 10 may have caught Covid, as world heads into “difficult period” – WHO
• Zimbabwe finance minister says Covid-19 won’t hit economy as hard as elsewhere

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

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