macroafricaintel Daily Brief | 18 Nov

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

Global Markets
• World shares slip after US retail sales dampen vaccine euphoria
• US retail sales lose speed, manufacturing picks up in October
• Container freight rates soar on consumer goods boom, supply chain kinks
• Oil mixed as hopes OPEC+ delays supply increase offset demand concerns
• Brent up 0.1% at $43.78, WTI down 0.1% at $41.40 (0430GMT)
• Gold inches lower as Covid-19 vaccine optimism weighs on appeal
• Spot gold down 0.1% at $1,877.39/oz., futures down 0.5% at $1,875.30 (0344GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• South Africa’s Ramaphosa hosts 3rd SA investment summit
• 4th meeting of AfCFTA senior trade officials; council of ministers meet on 20 Nov.
• South Africa state capture inquiry continues; Zondo to rule on Zuma recusal application
• South Africa retail sales Sep-20 [fcst. -0.3% yy, prev. -4.2%]
• Kenya’s Kenyatta & Odinga launch BBI signatures collection (19 Nov)
• 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
• Ethiopia accues Tigray forces of destroying bridges leading to
regional capital
• Ethiopia claims Tigray victories, says army marching to state capital
• Nigeria’s president vows to prevent repeat of anti-police brutality protests
• US condemns Tigray leaders for attacking Eritrea
• Army patrol discovers 29 bodies in eastern Congo
• Trump could withdraw troops from Somalia as part of global pullback
• Ethiopia says its troops marching on Tigray capital
• Africa governance worsens for first time in a decade: survey
• Endeavour to become West Africa’s biggest gold miner with $2 bln Teranga deal
• Full-scale humanitarian crisis unfolding in Ethiopia – UN refugee agency
• Derivatives committee asked to rule on Zambia debt non-payment
• Nobel body urges peace in Ethiopia where laureate engaged in conflict
• After continental retreat, South Africa retailers strain for profits at home
• Ethiopia carries out air strikes in Tigray, PM says surrender ultimatum over
• Germany files espionage charges against Egypt-born man

• It’s time to buy South Africa Inc., nation’s no.2 pension fund says
• Zimbabwe plans to abandon fixing prices for commodities
• Cocoa’s OPEC turns New York market into trader battleground
• South Africa state arms maker fires workers after bailout snub
• South Africa signs plan to support $908 mln sugar industry
• Morocco sets hard line over ending Western Sahara fighting
• OPEC+ voices caution on oil market as it mulls output-hike delay
• Nigeria says Air France, KLM, Lufthansa to resume flights
• Pastor’s escape strains South Africa ties with Malawi
• Billionaire Gertler buys royalty rights in Congo cobalt project
• Perenco in talks to take majority share of Ivory Coast oil well
• Ivory Coast & Ghana may seek to boost cocoa prices
• South Africa study puts covid deaths much higher than official toll

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

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