macroafricaintel Daily Brief | 6 Jan

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

Global Markets
• Stocks fall, bond yields rise as investors brace for possible Democrat triumph in Georgia; dollar squeezed
• Saudi vows extra cuts as OPEC+ agrees small rise in oil output
• Brent oil rises to highest since February after Saudi Arabia output cut
• Brent up to $53.79, WTI up 0.3% at $50.06 (0147GMT)
• Gold eases as dollar gains on ‘knife-edge’ Georgia race
• Spot gold down 0.3% at $1,943.46/oz., futures down 0.4% at $1,947.50 (0355GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• South Africa IHS Markit PMI Dec-20 [prev. 50.3]
• Nigeria Stanbic IBTC PMI Dec-20 [prev. 50.9]
• Kenya, Ghana & other Africa PMIs for Dec-20 due
• South Africa’s Covid-19 “command” council meets
• Senior executives of South Africa’s ruling ANC meet
• South Africa’s Ramaphosa delivers ruling ANC 109th anniversary “January 8” statement in Limpopo (8 Jan)
• China’s foreign minister tours Africa (Nigeria, DRC, Tanzania, Botswana & Seychelles)
• Ghana dissolves 7th & inaugurates 8th parliament (6-7 Jan)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Ethiopia police release detained Reuters cameraman without charge
• South Africa variant unlikely to ‘completely negate’ covid vaccines, scientist says
• More than 20 at Mali wedding ceremony killed in air strike – health worker
• Vietnam suspends flights from UK, South Africa over new covid-19 variants
• UK scientists worry vaccines may not protect against South Africa coronavirus variant
• At least 22 killed in eastern Congo village
• World risks ‘moral catastrophe’ if covid shots delayed in Africa, its CDC chief says
• Botswana sets currency to lose value faster in 2021
• Niger mourns, probes weekend massacre in two villages

Bloomberg
• Audit woes at South Africa’s land bank has bondholder worried
• South Africa govt to appeal ruling against tobacco ban
• Pfizer has offered South Africa discounted covid-19 vaccines
• Egypt business activity worsens in reversal of 3 months of gains

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

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