macroafricaintel Daily Brief | 7 Aug

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

Global Markets

  • Asia shares fall after Trump takes aim at China tech firms
  • Trump’s ban on top China tech firms sours mood
  • MSCI ex-Japan Asia down 1%, Tencent falls 9%
  • Hopes of US stimulus bolster shares despite lack of progress
  • Brent down 0.1% at $45.04

Oil Markets

  • Oil prices slip on uncertainty over US recovery, stimulus
  • Brent down 6 cents at $45.03 a barrel (0246GMT)
  • WTI down 2 cents at $41.93

Precious metals

  • Gold hits new record high, on track for ninth weekly rise
  • Spot gold up 0.3% at $2,068.32/oz. (0035GMT)
  • US gold futures up 0.5% at $2,078.70/oz.

Grains

  • Wheat faces biggest weekly drop in 1 year, corn down for 5th week
  • Wheat down more than 5% this week
  • Corn down more than 1% this week
  • Soybeans down more than 1.7% for the week

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

  • 3rd term bids by Ivory Coast’s Ouattara & Guinea’s Conde to be in focus; after official declarations on Thursday
  • Gambia declares state of emergency on Covid-19
  • South Africa Fx reservers Jul-20 [prev. $52.32B]
  • South Africa state capture inquiry continues
  • Key African countries on lockdown or restricted; subdued economic activity
  • Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today

  • Africa’s cases of Covid-19 top 1 million – Reuters tally
  • Ivory Coast President Ouattara says he will run for third term
  • Zimbabwe again denies bail to journalist in protest case, govt denies crisis
  • Around 40 migrants down in shipwreck off Mauritanian coast
  • Egypt & Greece sign agreement on exclusive economic zone
  • Nigeria to reopen for international air travel in weeks
  • Guinea’s ruling party nominates President Conde for third term
  • Afreximbank commits $400 mln to Mozambique LNG project
  • South Africa regulator working to clarify companies rights in pandemic insurance claims
  • South Africa’s Ramaphosa sets up body to probe Covid-19 corruption
  • Turkey says Egypt-Greece deal falls in its continental shelf
  • Container ships sent to Tripoli to keep Lebanon supply lines running
  • US imposes Libya-related sanctions on individuals, company
  • Mauritania names new PM after previous cabinet resigns amid corruption probe
  • Egypt’s Suez Canal revenues up 4.7% in last 5 years – chairman
  • South Africa’s MTN to exit Middle East to focus on Africa
  • 10 countries account for 80% of Africa Covid-19 testing – Africa CDC
  • Ivory Coast police fire teargas at supporters of former president
  • Weather alerts at risk as Kenya’s radio stations struggle amid virus downturn
  • South Africa animal rights group asks court to ban live sheep shipments by Kuwait firm
  • South Africa’s funeral parlours turn to makeshift mortuaries as virus deaths rise
  • Nigeria startup helps local churches digitize operations

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

macroafricaintel Daily Brief | 6 Aug

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

Global Markets

  • Dollar wallows and stocks inch higher as stimulus eyed
  • MSCI AxJ up 0.3% to highest since January
  • BoE, RBI, US fiscal deal eyed
  • Brent up 0.1% at $45.23, WTI steady at $42.15

Oil Markets

  • Oil prices struggle to hold 5-mth high amid pandemic worries
  • Brent up 6 cents at $45.23 a barrel
  • WTI down 3 cents at $42.16

Precious metals

  • Gold steadies near record high as dollar stumbles
  • Spot gold steady at $2,039.75/oz. (0042GMT)
  • US gold futures up 0.3% at $2,055.90/oz.

Grains

  • Soybeans slip for 3rd session as US weather boosts crop outlook
  • Rains in US Midwest to boost corn, soybean crops
  • Wheat falls on lack of demand for US supplies
  • Soybean futures down 0.1% at $8.77-3/4 a bushel (0313GMT)
  • Corn up 0.2% at $3.22-3/4 a bushel
  • Wheat down 0.4% at $5.08-3/4 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

  • Kenya senators go on retreat to resolve county revenue allocation row
  • WHO experts arrive South Africa to help with Covid-19 response
  • South Africa state capture inquiry continues
  • Key African countries on lockdown or restricted; subdued economic activity
  • Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today

  • Gambia imposes curfew as coronavirus cases surge 60% in a week
  • Somalia expects to announce winners of first petroleum auction early 2021
  • US imposes sanctions on Zimbabwe businessman, company
  • Telkom Kenya pulls the plug on merger with Bharti Airtel
  • Egypt-operated ship was unloading wheat in Beirut as port blast hit – director
  • Covid-19 cases slow in South Africa hotspot provinces, minister says
  • Moderna says discussing supply deals with countries for Covid-19 vaccine
  • Uganda tough approach curbs Covid, even as Africa nears 1 mln cases
  • South Africa diamond polishers look to lockdown lovers to add shine
  • EU effort to stem African migration leaves some ex-smugglers empty handed

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

macroafricaintel Daily Brief | 5 Aug

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

Global Markets

  • Gold shines on falling dollar, yields; pandemic cost concerns drag on shares
  • Gold surges past key technical barrier of $2,000/oz.
  • Falling US dollar, bond yields push gold higher
  • Asian shares mostly lower on rising pandemic costs, uncertainty
  • Brent off 8 cents at $44.35, WTI down 11 cents at $41.59

Oil Markets

  • Oil prices toppled from rising streak as jump in Covid-19 cases stokes fuel demand fears
  • Brent down 0.4% at $44.27 a barrel (0117GMT)
  • WTI down 0.4% at $41.53

Precious metals

  • Gold extends record rally on softer dollar, stimulus bets
  • Spot gold hit record high of $2,030.72/oz. (0234GMT)
  • US gold futures up 0.7% at $2,032.30/oz.

Grains

  • Corn recovers from 5-wk low; bumper crop estimates cap gains
  • Bumper US, Brazil soybean output to keep pressure on prices
  • Corn futures up 0.6% at $3.22-1/4 a bushel (0132GMT)
  • Soybeans up 0.2% at $8.83-3/4 a bushel
  • Wheat up 0.1% at $5.08-3/4 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

  • Nigeria’s Buhari cabinet meets [Recent killings & growing insecurity likely top of agenda; eyes on veteran security chiefs]
  • South Africa Standard Bank PMI Jul-20 [prev. 42.5]
  • Nigeria Stanbic IBTC PMI Jul-20 [prev. 46.4]
  • Kenya, Ghana, etc. Jul-20 PMIs due as well
  • South Africa state capture inquiry continues
  • Key African countries on lockdown or restricted; subdued economic activity
  • Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today

  • Trump security adviser warns against foreign military involvement in Libya
  • Egypt to withdraw from latest dam talks for internal consultations – statement
  • Tanzania opposition names presidential candidate who survived shooting
  • Zimbabwe’s president names his deputy as new health minister
  • South Africa’s Denel ordered to pay outstanding salaries by Friday
  • Egypt lawmakers approve bill to protect sex assault victims’ identity
  • Cape Verde court rejects Maduro envoy’s appeal against US extradition
  • After arrest, Zimbabwe novelist declares state “chokehold”
  • Congo to suspend value-added tax exemption for mining imports
  • Somalia sets up disaster warning centre to battle floods and locusts
  • Algeria leader secures fugitive officer with Erdogan call, source says
  • Kenya – Hair scavenged from Nairobi dump ends up in salon amid covid-19 pandemic
  • South Africa’s Pick n Pay warns of 50% earnings drop
  • Centamin earnings jump on strong gold prices, higher Egypt mine output
  • Africa activists fight violence against women one law at a time

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

macroafricaintel Daily Brief | 4 Aug

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

Global Markets

  • Asia stocks rise as upbeat factory data lifts confidence
  • US ISM data boosts Asian shares
  • Gold near record high as virus risks remain
  • Oil gives up gains on expected output increase
  • Brent down 0.6% at $43.89, WTI down 0.6% at $40.76

Oil Markets

  • Oil prices drop on fuel demand worries as coronavirus flares up
  • Brent down 0.6% at $43.88 a barrel (0132GMT)
  • WTI down 0.5% at $40.79

Precious metals

  • Gold steadies near record high as virus concerns persist
  • Spot gold steady at $1,976.36/oz. (0231GMT)
  • US gold futures up 0.3% at $1,993

Grains

  • Soybeans ease on US crop condition, wheat falls for 2nd session
  • Soybean futures down 0.5% at $8.92 a bushel (0235GMT)
  • Corn down 0.6% at $3.26-1/2 a bushel
  • Wheat down 0.5% at $5.18-1/4 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

  • Ghana’s ruling NPP press briefing
  • Kenya Senate special sitting on controversial county revenue allocation amendments
  • Nigeria exit school classes resume
  • South Africa state capture inquiry continues
  • Key African countries on lockdown or restricted; subdued economic activity
  • Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today

  • African activists fight violence against women one law at a time
  • South Africa’s Eskom seeks $221 mln damages over coal deal
  • South Africa corruption watchdog probes Covid-19 tenders
  • South Africans go online to document police brutality
  • Three Gambia ministers test positive for Covid-19
  • South Africa’s Shoprite lifted by sales jump and potential Nigeria exit
  • Ivory Coast weather good for main cocoa crop, more sun needed
  • Russia to deliver Covid-19 drug to South Africa, Latam countries – wealth fund
  • South Africa’s rand leads EMEA FX losses ahead of data-heavy week
  • South Africa’s Shoprite sees lower annual earnings
  • Cameroon tomato farmers count losses to wild weather and lockdown

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

macroafricaintel Daily Brief | 3 Aug

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

Global Markets

  • Asia stocks cautiously mixed, dollar tries to bounce
  • Asia ex-Japan dips, Nikkei aided by yen pullback
  • Caixin China PMI beats forecasts at 52.8
  • Dollar adds to Friday bounce, after punishing July
  • Brent down 7 cents at $43.45, WTI eased 8 cents at $40.19
  • Gold reaches new peak, eyeing $2,000 level

Oil Markets

  • Oil falls on supply glut fears as OPEC+ set to boost output
  • OPEC+ set to raise outputin August, adding 1.5 mln bpd
  • US oil & gas rig count holds steady at record low
  • Brent down 0.6% at $43.26 a barrel (0253GMT)
  • WTI down 0.7% at $39.98

Precious metals

  • Gold soars to record high as virus fears lift safe-haven demand
  • Gold up 30% so far this year
  • Specs cut gold bullish positions in week ended July 28 – CFTC
  • Spot gold steady at $1,973.94/oz. (0254GMT)
  • US gold futures up 0.3% at $1,992.30/oz.

Grains

  • Wheat falls 1% on global stockpiles, tepid demand
  • Bumper global wheat production expected
  • Wheat futures down 0.8% at $5.26-3/4 a bushel (0254GMT)
  • Corn up 0.2% at $3.27-1/2 a bushel
  • Soybeans up 0.7% at $8.98-1/2 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

  • Electoral Commission of Ghana press briefing on ongoing voter registration
  • Ghana’s main opposition NDC press briefing
  • South Africa state capture inquiry continues
  • Key African countries on lockdown or restricted; subdued economic activity
  • Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today

  • Cameroon tomato farmers count losses to wild weather & lockdown
  • Algeria says to investigate actions targeting stability
  • Suspected militants kill 16 in northern Cameroon
  • Algeria leader secures fugitive officer with Erdogan call, source says
  • South Africa telecom operator Telkom moves into financial services
  • South Africa Covid-19 cases surpass half a million
  • Egypt says Turkish seismic survey plans could encroach on its waters
  • Nigeria’s Lagos to allow places of worship to reopen – governor
  • Ivory Coast’s former PM named by Gbagbo’s party as presidential candidate
  • Kenya Airways resumes international flights after virus curbs lifted
  • South Africa’s deputy finance minister asked to step aside over abuse of power claim
  • Egypt reports lowest coronavirus daily figure since May 3
  • South Africa will not have universal basic income grant this year, minister says
  • Namibia to close schools, limit public gatherings as Covid-19 cases surge
  • UN to train Botswana traditional leaders to fight gender-based abuse
  • South Africans push back against 5G towers in their backyards
  • Solar beats salt, bringing clean water to coastal Kenyans
  • WTO fails to agree on interim leader before choosing new chief
  • Congo soldier shoots dead 12 in drunken rampage
  • South Africa produces its first ventilators to fight Covid-19
  • South Africa economy could contract 8.2% if second Covid-19 wave hits, OECD says
  • South Africa insurers’ offer in Covid claims fight too little too late for some
  • Zimbabwe businesses closed, streets deserted on day of protests

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

macroafricaintel Daily Brief | 31 Jul

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

Global Markets

  • Asian stocks falter as global growth fears temper tech boost
  • MSCI Asia ex-Japan -0.22%; Nikkei -1.87%
  • China, Japan post positive manufacturing data
  • Brent up 0.5% at $43.17, WTI up 0.3% at $40.04
  • Spot gld up 0.5% at $1,968.84/oz.

Oil Markets

  • Oil rises further from 3-wk lows, but headwinds loom amid pandemic
  • Brent up 0.3% at $43.08 a barrel (0358GMT)
  • WTI up 0.5% at $40.13

Precious metals

  • Gold set for best month in nearly 4-1/2 years as weak US data dents dollar
  • Silver on track for best month on record
  • Spot gold up 0.4% at $1,967.53/oz. (0458GMT)
  • US gold futures up 1% at $1,961.30/oz.

Grains

  • Corn set for monthly loss as US weather boosts crop outlook
  • Corn has lost 4% in July
  • Soybeans up more than 1% this month
  • Wheat has risen 8% in July

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

  • Eid holiday
  • Anti-government protests in Zimbabwe; after arrest of journalists, crackdown
  • Botswana reinstates 2-week Covid-19 lockdown in Gaborone
  • South Africa’s Ramaphosa addresses summit on science & innovation response to Covid-19
  • Kenya resumes international flights (1 Aug)
  • South Africa trade balance Jun-20 [prev. ZAR15.94B]
  • South Africa state capture inquiry continues
  • Key African countries on lockdown or restricted; subdued economic activity
  • Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today

  • Out of hospital, Saudi King tweets Eid greetings
  • Botswana reinstates coronavirus lockdown in capital for two weeks
  • IMF approves $171.9 mln to Madagascar to address Covid-19 pandemic
  • Saudi King Salman leaves hospital – state news agency
  • Kenya Unilever tea workers escalate fight for reparations to UN
  • Zimbabwe govt minister died from Covid-19
  • Diamond giant De Beers likely to cut jobs after Covid-19 hit
  • Botswana says natural toxin could be behind elephant deaths
  • Zimbabwe security forces clear streets ahead of planned protests
  • South Africa probes medical suppliers over Covid-19 tender allegations
  • AngloGold Ashanti CEO Dushnisky steps down after two years in the role
  • Ivory Coast defence minister Bakayoko named prime minister
  • Libya to impose full lockdown as pandemic cases grow
  • South Africa insurers’ offer in Covid claims fight too little too late for some
  • South Africa’s Steinhoff’s first-half loss more than doubles to $1.7 bln
  • Tunisia’s parliament speaker narrowly survives confidence vote
  • Nigeria expects to comply with 1.412 mln bpd output quota – oil minister
  • Kenya central bank has ‘plenty of firepower’, governor says
  • UN warns that 60% of Zimbabweans threatened by hunger
  • Starved of dollars, Nigeria businesses struggle for survival
  • Mali cleric says crisis can be resolved without president resigning
  • ArcelorMittal South Africa falls deeper into half-year loss as steel demand falls
  • Shell writes down Nigeria licence at heart of Italian bribery trial

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

macroafricaintel Daily Brief | 30 Jul

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

Global Markets

  • Asian stocks rise, dollar languishes near 2-yr lows on Fed
  • Sentiment supported by ultra easy monetary policy
  • Eyes on US coronavirus relief package negotiations
  • Brent up 4 cents at $43.79, WTI up 1 cent at $41.28
  • Spot gold off 0.4% at $1,962.6/oz.

Oil Markets

  • Oil holds steady as virus concerns weigh on demand hopes
  • US crude stocks post biggest weekly drop since Dec
  • US gasoline, distillate inventories post surprise builds
  • Brent up 4 cents at $44.13 a barrel (0330GMT)
  • WTI down 1 cent at $41.26

Precious metals

  • Gold eases as risk appetite improves after Fed policy meeting
  • Gold up more than 28% so far this year
  • Spot gold down 0.3% at $1,964.70/oz. (0329GMT)
  • US gold futures up 0.3% at $1,959.20/oz.

Grains

  • Corn firms after four days of losses, record US crop hopes cap gains
  • Corn ticks up on bargain buying after 4 sessions of losses
  • Soybeans face pressure as US-China tensions raise demand worries
  • Corn futures up 0.2% at $3.27 a bushel (0250GMT)
  • Soybeans down 0.25 cents at $8.85 a bushel
  • Wheat down 0.1% at $5.32-1/2 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

  • Eid holidays in Nigeria, Kenya & others from tomorrow
  • South Africa producer inflation Jun-20 [fcst. 0.3% yy, prev. 0.4%]
  • Kenya, Uganda & Zambia release July inflation data
  • Nigeria FX reserves Jul-20 [prev. $36.2B]
  • Nigeria manufacturing PMI Jul-20 [prev. 41.1]
  • South Africa trade balance Jun-20 [prev. ZAR15.94B]
  • South Africa state capture inquiry continues
  • Key African countries on lockdown or restricted; subdued economic activity
  • Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today

  • Contested Mali lawmakers will not step down, says representative
  • World Bank’s IFC launches $4 bln medical supply financing platform
  • Ivory Coast pledges fair vote, Ouattara asked to run again
  • Egypt’s Sisi approves restrictions on retired army officers standing for election
  • Half of violence against African migrants is by law enforcers, UN says
  • Morocco arrests dissident journalist on rape and spy charges
  • Seven babies stillborn in one night at Zimbabwe hospital as nurses strike
  • WTO set to skip naming acting chief after US push caused deadlock
  • South Africa insurers Old Mutual, Guardrisk offer to settle with virus-hit firms
  • ‘Vaccine nationalism’: Is it every country for itself?
  • Egypt budget deficit falls to 7.8% in FY 2019/20 – cabinet
  • Gambia VP tests positive for coronavirus, president self-isolating
  • EU set to drop Algeria from safe country travel list
  • Zimbabwe agrees to pay $3.5 bln compensation to white farmers
  • Kenya police arrest fugitive indicted in US for ivory, rhino horn trafficking
  • Egypt’s arrears to foreign oil companies fall to $850 mln at end of June – minister
  • South Africa’s Standard Bank warns of up to 50% profit slump
  • South Africa’s Sasol to sell world’s biggest oxygen production site to Air Liquide
  • Zimbabwe minister Shiri, who helped plot Mugabe ouster, dies at 65

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

macroafricaintel Daily Brief | 29 Jul

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

Global Markets

  • Dollar teeters, gold takes a breather as markets await Fed
  • Dollar could post worst month v basket since 2011
  • Dovish Fed expected, statement due 1800 GMT
  • MSCI AxJ stocks up 0.3% led by China
  • Brent up 0.2% at $43.29, WTI flat at $41.03

Oil Markets

  • Oil rises after surprise drop in US inventories offsets demand concerns
  • Brent up 0.3% at $43.36 a barrel (0326GMT)
  • WTI up 0.1% at $41.06

Precious metals

  • Gold steadies on virus fears, stimulus bets; Fed meet eyed
  • Spot gold little changed at $1,957.84/oz. (0049GMT)
  • US gold futures up 0.5% at $1,954.50/oz.

Grains

  • Soybeans near 2-wk low as improved US crop weather weighs
  • Soybean futures down 0.1% at $8.87 a bushel (0309GMT)
  • Wheat up 0.4% at $5.25-3/4 a bushel
  • Corn up 0.2% at $3.30-3/4 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

  • Central Bank of Kenya decides interest rates [fcst. 7.0%, prev. 7.0%]
  • South Africa inflation Jun-20 [fcst. 1.9% yy, prev. 2.1%]
  • South Africa PSCE Jun-20 [fcst. 6.3% yy, prev. 6.4%]
  • South Africa M3 Jun-20 [fcst. 10.8% yy, prev. 10.3%]
  • Ghana’s Akufo-Addo tours Northern, North East & Savanna regions
  • AfDB’s Africa information highway live exchange webinar
  • South Africa state capture inquiry continues
  • Key African countries on lockdown or restricted; subdued economic activity
  • Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today

  • Zimbabwe to resume stock trading, Old Mutual unit remains suspended
  • South Africa court allows Eskom to claw back $4 bln over three years
  • US says air strike in Somalia killed one civilian, injured three
  • South Africa Airways rescue plan ready bar the funding, say administrators
  • WHO says covid-19 pandemic is “one big wave”, not seasonal
  • Three migrants shot dead in Libya after failed crossing to Europe
  • Nigeria in $1.5 bln oil prepay deal with traders Vitol, Matrix
  • AfDB rightly cleared its president of wrongdoing – independent panel
  • Nigeria banks squeezed as central bank shores up naira
  • Mali’s opposition rejects West Africa leaders’ plan to end deadlock
  • Kenya’s Safaricom launches 4G phone purchase by instalment scheme with Google

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

macroafricaintel Daily Brief | 28 Jul

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

Global Markets

  • Gold hits record, gets more precious as dollar loses value
  • Gold runs into profit-taking after meteoric rise
  • Dollar holds near 2-yr lows, breaks major chart supports
  • Shares take comfort in endless stimulus, Fed policies
  • Brent up 5 cents at $43.46, WTI down 7 cents at $41.53
  • Spot gold almost $40 higher earlier at $1,980/oz.

Oil Markets

  • Oil prices rise on US stimulus hopes, weaker US dollar
  • Brent up 0.8% at $43.76 a barrel (0118GMT)
  • WTI up 0.7% at $41.87

Precious metals

  • Gold eyes $2,000 in record run as dollar dips on dovish Fed bets
  • Spot gold up 1.4% at $1,969.76/oz.
  • US gold futures up 1.7% at $1,963.30/oz.

Grains

  • Soybeans hit 6-day low as US crop weather favours yield prospects
  • Soybean futures down 0.8% at $8.92 a bushel (0056GMT)
  • Corn down 0.7% at $3.32-1/4 a bushel
  • Wheat down 0.3% at $5.26-1/4 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

  • Kenya senate debates & votes on contentious revenue allocation formula
  • Nigeria’s finance minister Ahmed & AFC’s Zubairu speak at Corporate Council on Africa’s Africa finance forum
  • Ghana’s Akufo-Addo tours Northern, North East & Savanna regions
  • South Africa’s ruling ANC summons presidential spokesperson Diko over allegations on tender irregularities
  • South Africa state capture inquiry continues
  • Key African countries on lockdown or restricted; subdued economic activity
  • Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today

  • West Africa proposes plan to resolve Mali crisis; opposition unimpressed
  • Algeria suspends tax payments for firms affected by coronavirus
  • IMF board approves $4.3 bln loan to help South Africa to fight pandemic
  • Egypt & Sudan criticise Ethiopia at start of new Nile dam talks
  • South Africa’s Steinhoff offers $1 bln to settle global lawsuits
  • Zimbabwe calls US ambassador ‘thug’ as anti-govt protests loom
  • Egypt jails five women influencers over TikTok posts
  • UN announces start of Libya central bank audit
  • Nigeria to allow would-be graduates back to school despite spreading covid-19
  • Morocco women break through in rap scene dominated by men
  • Kenya extends curfew for a month as covid-19 cases jump
  • Ivory Coast cocoa main crop should weather below-average rain
  • Tanzania opposition leader who survived 2017 gun attack returns from exile
  • Africa trade deal could lift millions out of poverty, World Bank says
  • South Africa’s Santam to pay $60 mln in relief to virus-hit firms within months – CEO
  • AngloGold Ashanti forecasts higher H1 earnings

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

macroafricaintel Daily Brief | 27 Jul

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

Global Markets

  • Gold hits record high as US-China ties worsen, Asia stocks helped by tech
  • Asia tech shares gain as Intel delays new chips
  • Earnings, US stimulus talks in focus
  • Gold rose 1% to record high of $1,920.9/oz.
  • Oil down on worsening Sino-US relations
  • Brent down 0.5% at $43.14, WTI down 0.44% at $41.11

Oil Markets

  • Oil slips as rising virus cases, US-China tensions weigh on markets
  • Brent set to post 4th monthly gain in July
  • Brent down 0.3% at $43.20 a barrel (0242GMT)
  • WTI down 0.2% at $41.19

Precious metals

  • Gold soars to all-time high as dollar dive adds fuel to record run
  • Silver notches up fresh 7-yr peak
  • Spot gold up 1.5% at $1,928.83/oz. (0306GMT)
  • US gold futures up 1.4% at $1,924.20/oz.

Grains

  • Soybeans drop for second session on US-China tension, wheat falls
  • Soybean futures down 0.2% at $8.97-1/2 a bushel (0323GMT)
  • Wheat down 0.7% at $5.35-3/4 a bushel
  • Corn down 0.3% at $3.34 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

  • ECOWAS leaders meet virtually on Mali; follow-up to their trip to Bamako last week
  • Bank of Ghana decides interest rates [fcst. 14.5%, prev. 14.5%]
  • Kenya’s Kenyatta meets county governors on covid-19 response
  • Electoral Commission of Ghana press briefing on ongoing voter registration
  • Ghana’s NDC flagbearer Mahama formally “outdoors” running mate Opoku-Agyemang
  • South Africa state capture inquiry continues
  • Key African countries on lockdown or restricted; subdued economic activity
  • Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today

  • Some 120 said to be killed or wounded in attack in Sudan’s Darfur region – UN
  • Morocco shuts down major cities after spike in coronavirus cases
  • Kenya arrests two police after ‘shooting incident’, launches enquiry
  • South Africa extends covid-19 loans for struggling businesses
  • Rwanda refugee put under formal investigation for Nantes Cathedral fire – Le Monde
  • Tunisia president designates new PM amid hopes of ending political crisis
  • Somalia’s parliament ousts prime minister in no-confidence vote
  • Deposed CAR leader announces presidential bid
  • South Africa police nab 63 prisoners from mass escape
  • Senegal strengthens coronavirus testing for travellers
  • Zimbabwe court rules journalist danger to public, extends detention
  • Morocco fertiliser group OCP could quit US if duty imposed, sources say
  • Botswana rape survivor fights sexual violence with awareness campaign
  • MTN Uganda stake sale to be restricted to East Africans – regulator
  • 15 Zambia lawmakers, 11 parliamentary staff contract covid-19
  • South Africa’s Pepkor Q3 sales drop 17% on lockdown hit
  • Tanzania former president Mkapa, regional peacemaker dies
  • South Africa’s MTN buoyed by expected leap in first-half earnings
  • Libyans face painful power cuts as years of chaos hit grid
  • Kenya recycling firm mixes kitchen waste to boost urban farming
  • Kenya covid-19 hospital gears up for surge in new infections
  • South Africa’s Woolworths sees annual sales dip as covid-19 hits
  • South Africa’s MTN expects at least 100% jump in first-half earnings
  • Prominent South Sudan critic says govt sent hit squad for him; Juba denies

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