macroafricaintel Daily Brief | 17 Nov

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

Global Markets
• Coronavirus bigger risk to US economy than election dispute: Reuters poll
• Asian stocks edge higher after vaccine hopes push Wall Street to record highs
• Oil prices edge higher ahead of OPEC+ meeing, vaccine hopes
• Brent up 0.4% at $43.98, WTI up 0.3% at $41.47 (0104GMT)
• Gold inches higher on softer dollar, virus woes: vaccine hopes cap gains
• Spot gold up 0.1% at $1,890.27/oz., futures up 0.1% at $1,889.70 (0327GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• South Africa’s Ramaphosa participates in 12th BRICS virtual summit
• OPEC+ JMMC meeting; weighs 3-mth cuts extension [final decision on 1 Dec]
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa state capture inquiry continues; Zondo to rule on Zuma recusal application
• South Africa central bank MPC (17-19 Nov) [fcst. 3.5%, prev. 3.5%]
• Bank of Ghana MPC (18-23 Nov) [fcst. 14.5%, prev. 14.5%]
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Africa governance worsens for first time in a decade: survey
• Uganda leader meets Ethiopia official, urges talks
• Tigray leader urges international censure of Ethiopia offensive
• ‘Give us time,’ Ethiopia says of Tigray offensive
• Ethiopia resists mediation as it bombs Tigray capital
• Nigeria ex-president goes to Ethiopia amid mediation push
• EU says won’t monitor Uganda election, limiting poll’s international scrutiny
• Schools close and student pregnancies rise in lockdown Kenya
• Ethiopia says Tigray town seized, war embroils Eritrea
• Ethiopia denies mediation over Tigray underway in Uganda
• South Africa’s Zuma says graft inquiry biased, seeks judge’s recusal
• Zambia on track for protracted debt overhaul as creditors slam lack
of engagement
• Egypt showcases scores of 2,500 year old coffins
• eSwatini’s prime minister tests positive for covid-19
• Pro-Sisi party in commanding position in Egypt parliamentary polls
• Ethiopia seizes town in Tigray, says 10,000 prisoners missing
• US condemns Tigray forces’ attacks on Eritrea
• Gunmen in western Ethiopia kill at least 34 people in bus attack,
rights body says
• Number of refugees fleeing Ethiopia to Sudan surpasses 20,000 – UN

Bloomberg
• Zimbabwe blueprint sees economy expanding 5% a year through 2025
• Ivory Coast cocoa harvesting picks up after election unrest
• Zambia sees deal with Glencore over Mopani copper within a month
• Nigeria plans to start a bridge bank to aid struggling lenders
• Nigeria investors tipped to ignore signs stocks are overheating
• Nigeria inflation rate rises on surging food costs
• Zambia finance minister says bondholders to blame for default
• Warning to veteran politicians as Libya talks to yield govt
• Endeavour Mining to acquire rival Teranga Gold for $1.86 bln in West
Africa expansion
• South Africa’s Sasol $12.8 bln US project reaches finish with last unit
• Kenya doctors threaten strike as virus infections, deaths surge
• South Africa’s Vodacom resets targets with post-pandemic light on horizon
• South Sudan to use its first IMF funding to stabilize currency

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

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