macroafricaintel Daily Brief | 22 Jan

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

Global Markets
• Not company earnings, not data but vaccines now steering investor sentiment
• Wall Street hedges against possible bumps in US vaccine rollout
• Asia markets step back from stimulus-driven record highs
• US labour market recovery fading; housing, factories underpin economy
• Oil prices fall as China’s surging covid-19 cases trigger clampdowns
• Brent down 0.8% at $55.65, WTI down 1% at $52.60 (0445GMT)
• Gold eases as yields tick up, but set for best week in five
• Spot gold down 0.3% at $1,863.56/oz., futures down 0.1% at $1,863.90 (0233GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• South Africa’s ruling ANC NEC holds virtual “lekgotla” (22-24 Jan)
• South Africa’s Eskom reduces load in some parts of country
• CAR declares state of emergency to combat rebels
• Nigeria central bank decides interest rates [fcst. 11.5%, prev. 11.5%] (25-26 Jan); Ghana & Kenya central bank MPCs meet next week as well
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Africa’s Covid-19 case fatality rate surpasses global level
• CAR declares state of emergency to combat rebels
• UK bans passengers from Tanzania, DRC to control spread of covid variant
• Nigeria appeals court throws out blasphemy convictions that caused outcry
• Egypt & Qatar agree to resume diplomatic ties, Cairo says
• South Africa presidency minister, former ANC activist Jackson Mthembu dies from covid-19
• Journalist shot dead in Ethiopia’s Tigray – aid worker, residents
• South Africa to pay $5.25 a dose for AstraZeneca vaccine from India’s SII
• Namibia govt supports calls to boycott Shoprite amid wage standoff
• Ethiopians dying, hungry and fearful in war-hit Tigray: agencies
• Ivory Coast appoints Mars executive to lead cocoa initiative
• Ivory Coast says delivery of its first doses of Pfizer vaccine delayed to mid-Feb
• Bovac to distribute vaccines to South Africa healthcare workers – letter
• Zambia expects to find new Mopani investor by year-end, IMF examines Glencore transaction
• Kenya reports two cases of new coronavirus variant first seen in South Africa
• South Africa’s Massmart posts lower Q4 sales on softer Black Friday, signs deal with Genpact

Bloomberg
• South Africa’s vaccine holdup heaps pressure on Ramaphosa
• India begins covid-19 vaccine exports to Brazil, Morocco
• South Africa: Gold Fields hires CEO who may fix troubled giant mine
• South Africa stocks set record as CEO news boosts Gold Fields
• Africa trade pact secures $1 bln to offset revenue losses
• Ethiopia denies Somalia forces involved in fighting in Tigray
• Kenya bourse eyes incubator for record listings this year
• Sudan to spend 60% more in 2021 in its bid for economic growth
• Libya to lean on foreign oil firms to fix rotting infrastructure
• South Africa holds key rate and signals hiking may start sooner
• South Africa perplexed over inertia in Mozambique crisis
• Nigeria now expects first covid-19 vaccine doses in February
• Eskom’s biggest union blames CEO for South Africa’s power cuts

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

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