#Africa #Markets | 21 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks extend recovery as trade worries take back seat
  • Nikkei hits 8-month high
  • Strong earnings outlook outweigh immediate worries on trade
  • Euro at 2 1/2-mth high vs dollar

Oil Markets

  • Oil prices mixed as Trump calls on OPEC to lower prices
  • US president Trump urges OPEC to lower prices
  • OPEC, its allies to gather on Sunday in Algeria
  • They are unlikely to discuss crude output increases
  • Brent crude futures up 5 cents at $78.75 a barrel (0424GMT)
  • US WTI crude futures down 8 cents to $70.24 a barrel

Precious metals

  • Gold rises on weaker dollar, heads for 1st weekly gain in four
  • Spot gold up 0.2 pct at $1,209.38 per ounce (0036GMT)
  • US gold futures up 0.3 pct at $1,214.30 an ounce

Grains

  • Soybeans edge lower, but set for biggest weekly gain in 5 weeks
  • Most active CBOT wheat futures down 0.4 pct at $5.22 per bushel (0109GMT)
  • Most active corn futures up 0.4 pct at $3.54 per bushel
  • Most active soy futures down 0.6 pct at $8.45-1/2 per bushel
  • Most active rice futures down 0.3 pct at $9.85 per hundredweight

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

  • South Africa’s Ramaphosa to announce economic stimulus package today
  • 4th Bank of Uganda lecture today: “Beyond manufacturing: Structural change in Africa reconsidered”

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Tunisia’s main public sector union calls nationwide strike
  • Ugandan musician turned MP vows to continue “fight for freedom” against govt
  • At least 42 drowned in Tanzania’s Lake Victoria ferry sinking, death toll could top 200 – officials
  • Trump to meet Israel, Egypt, Japan leaders at UN next week – White House
  • Split South African central bank holds rates, exposing wider tensions
  • World bank disburses $500 mln loan to support Tunisia budget
  • Libyan oil firm to resume flights to Wafa oilfield after protest ends – field worker
  • Zambia says donor witholding nearly $34 mln over mismanagment
  • Ghana’s govt pulls planned 5-yr local currency bond
  • Uganda to deploy ebola vaccine if virus spreads from Congo
  • Eastern Libya follow Tripoli with quasi-devaluation to tackle black market
  • Gupta brother denies threatening to kill South African former minister
  • Egypt court frees Mubarak’s sons on bail in share-dealing case
  • South Africa’s ruling ANC retracts statement on monetary policy
  • Africa Crude – Nigerian diffs ease ahead of rising crude supply
  • METALS-Copper pulls back as economic growth worries return
  • Kenya assembly backs halving of fuel tax amid anger at living costs
  • Ghana’s Cocobod signs $1.3 bln syndicated loan for 2018/19 cocoa buying
  • Tanzania suspends US-funded family planning ads on radio, television
  • South Africa’s ANC economic head criticises statement issued by party on rate decision
  • Egypt inks $352 mln deal with Siemens to manage power stations
  • World Bank revises Zambia’s 2018 economic growth forecasts downwards; now sees it below 4 pct
  • Kenya speaker upholds parliament’s approval of 8 pct tax on fuel
  • Libya sets fee on currency transactions to tackle black market
  • South Africa’s ruling party urges central bank to help poor
  • Morocco’s Attijariwafa Bank first half net profit up 6.35 pct
  • Police take Ugandan opposition leader Kyagulanyi home after he returns from abroad
  • South Africa’s central bank leaves repo rate at 6.5 pct
  • Italian judge jails two in Nigerian oil graft case
  • Liberia passes landmark law to secure ancestral land rights
  • Oil and gas company SDX Energy confirms talks with BP to buy assets in Egypt
  • Ghana’s Cocobod in talks with international lenders for $300 mln medium-term loan
  • Africa-focused buyout firm DPI buy irrigation company CMGP for $100 mln
  • South Africa’s cabinet approves new mining charter
  • Plot, poison, or curse? Ebola rumours spread in Congo
  • Rocket Internet prepares IPO for African platform Jumia – sources
  • OPEC unlikely to agree official output increase in Algeria, but pressure mounts
  • South Africa’s Pick n Pay sees jump in HY profits
  • Ghana’s market women score win against forced eviction
  • Guards shut airport at Libyan Wafa oilfield – NOC
  • Mali eyes 3.4 pct budget rise for 2019 to tackle security problems
  • South Africa’s state pension fund invests $100 mln in Afreximbank
  • Kenyan shilling unchanged, expected strengthen
  • Uganda shilling unchanged as demand from energy, manufacturing slows
  • MTN shares rise after Nigeria says reviewing information to resolve $8.1 bln dispute
  • South Africa has no plans to return to international bond markets in 2019
  • South African man arrested for racist rant at Ramaphosa

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

#Global #Markets | 21 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

(GMT+1)

CALENDAR
07:45 France GDP Growth Rate QoQ Final 
08:15 France Markit Services PMI Flash 
08:15 France Markit Manufacturing PMI Flash 
08:30 Germany Markit Services PMI Flash 
08:30 Germany Markit Manufacturing PMI Flash 
09:00 Euro Area Markit Services PMI Flash 
09:00 Euro Area Markit Manufacturing PMI Flash 
09:00 Spain Balance of Trade 
12:00 UK BoE Quarterly Bulletin 
13:30 Canada Retail Sales MoM 
13:30 Canada Inflation Rate MoM 
13:30 Canada Core Inflation Rate YoY 
13:30 Canada Inflation Rate YoY 
14:45 US Markit Manufacturing PMI Flash
NEWS
Macau Inflation Rate Slows Slightly to 3.32% in August 
Thailand Import Growth Accelerates Sharply 
Thailand Export Growth Slows 
Thailand Trade Balance Swings to Deficit in August 
Japan Manufacturing PMI Rises to 3-Month High 
New Zealand Tourist Arrivals Climb 5.4% YoY 
Paraguay Holds Interest Rate at 5.25% 
Dow Jones and S&P 500 Surge to New Highs 
Argentina Jobless Rate Highest Since 2007 
European Shares Close Higher on Thursday 
US Existing Home Sales Lower than Expected 
Eurozone Consumer Morale at Near 1-1/2-Year Low 
South Africa Leaves Interest Rate Unchanged at 6.5% 
Brazil Business Confidence Weakens in September

Source: Trading Economics, Macroafricaintel Research

#Africa #Markets | 20 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian markets follow global shares higher, trade war still in focus
  • MSCI Asia-Pacific ex-Japan index up 0.05 pct
  • Nikkei up 0.2 pct

Oil Markets

  • US oil prices climb amid drop in stockpiles, strong gasoline demand
  • Brent crude futures down 2 cents at $79.38 per barrel (0018GMT)
  • US WTI crude futures up 0.4 pct at $71.43 a barrel

Precious metals

  • Gold prices steady as easing trade concerns drag on dollar
  • Spot gold little changed at $1,203.86 per ounce (0106GMT)
  • US gold futures up 0.1 pct at $1,209 an ounce

Grains

  • Soybean prices edge down, linger near decade-low
  • Most active CBOT wheat futures down 0.1 pct at $5.22 per bushel
  • Most active corn futures down 0.1 pct at $3.45-1/2 per bushel
  • Most active soy futures down 0.1 pct at $8.29-1/4 per bushel
  • Most active rice futures up 0.8 pct at $9.88 per hundredweight

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

  • Final day of South Africa’s COSATU congress today
  • Bank of Ghana to conclude MPC meeting today; announcement of decision on 24 Sep [fcst. 17.0%, prev. 17.0%]
  • South Africa interest rate decision [fcst. 6.5%, prev. 6.5%]
  • South Africa’s state capture inquiry continues
  • Uganda’s popular opposition politician BobiWine to return home from the US for medical treatment today; high tension palpable in Kampala
  • Kenya’s parliament to debate Kenyatta proposals for 2018 finance bill in test for “handshake” with opposition leader Odinga

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Nigeria’s central bank says reviewing information to resolve $8.1 bln MTN repatriation
  • Libya imposes fee on hard currency transactions to bridge black market gap
  • Zimbabwe president reshuffles top ranks of civil service
  • Kabila candidate faces divided challenge in Congo presidential poll
  • Nigeria to suspend national airline project
  • Egypt “resilient” to emergingh market turbulence – minister
  • Coca-Cola moving ahead with takeover of Nigeria’s Chi juice
  • International court sentences Congo politician Bemba for witness tampering
  • Liberia loses $104 mln in central bank cash, bans 15 from foreign travel
  • Africa Crude – Nigerian programmes begin to emerge, Angolan allocations awaited
  • Burkina Faso arrests dozens for FGM in biggest crackdown yet
  • Egypt to sell around $5 billion in foreign currency bonds in coming months – finmin
  • Zimbabwe seeks $35 million to fight cholera outbreak
  • Italy court finds Saipem guilty in Algeria corruption case, acquits Eni
  • Zambia fires minister in charge of misused donor funds
  • Egypt to evaluate method of further state company sales in Jan – finmin
  • Egypt dealing with emerging market turbulence – finmin
  • Uganda bans rallies by supporters of opponent of Museveni
  • Kenya’s finance minister cuts 2018/19 govt spending by 1.8 pct
  • Zambia’s kwacha falls over size of country’s debt, aid freeze
  • Lower inflation eases pressure on South Africa’s central bank to match EM hikes
  • Amnesty says crackdown turns Egypt into an “open air prison” for critics
  • Naspers frees cash-rich Multichoice to take on Netflix & co
  • Nigerian military struggles against Islamic State of West Africa – sources
  • Algeria plans 1.5 pct spending cut next year – govt document
  • Johannesburg stock exchange looks to tighten listing rules
  • Kenyan shilling unchanged, draws support from charity flows
  • Ugandan shilling weakens as banks’ and manufacturing demand weighs
  • South Africa’s CPI slows to 4.9 pct y/y in August
  • South Africa’s Sasol, union begin talks to end strike
  • Kenyan president proposes tax hike on money transfer services – documents
  • Morocco plays cat and mouse with Africans headed to Europe

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

#Global #Markets | 20 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

(GMT+1)

CALENDAR
05:30 Netherlands Consumer Confidence 
05:30 Netherlands Unemployment Rate 
07:00 Switzerland Balance of Trade 
08:00 Turkey Consumer Confidence 
08:30 Switzerland SNB Interest Rate Decison 
09:00 Norway Norges Bank Monetary Policy Report 
09:00 Norway Norges Bank Interest Rate Decison 
09:30 UK Retail Sales YoY 
09:30 UK Retail Sales MoM 
09:30 UK Retail Sales ex Fuel MoM 
09:30 UK Retail Sales ex Fuel YoY 
13:30 US Philadelphia Fed Manufacturing Index 
14:00 South Africa Interest Rate Decision 
15:00 US Existing Home Sales MoM
NEWS
New Zealand Annual GDP Growth Beats Expectations 
New Zealand Quarterly GDP Growth at 2-Year High 
Brazil Holds Interest Rate at 6.50% 
US Stocks Close Mixed on Wednesday 
Argentina GDP Contracts Sharply in Q2 
Belarus Holds Key Policy Rate at 10% 
US Crude Oil Inventories Drop for 5th Week 
Russia Real Wages Growth Eases in August 
Russian Jobless Rate Falls to New Record Low 
US Building Permits Fall to Over 1-Year Low 
US Current Account Deficit Smallest Since 2015 
South African Rand Rises After Inflation Data 
Slovakia Current Account Deficit Widens in July 
US Mortgage Applications Rebound: MBA

Source: Trading Economics, Macroafricaintel Research

#Africa #Markets | 19 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks, US treasury yields climb as trade row fails to dent confidence
  • MSCI Asia-Pacific index up 0.7 pct, Nikkei rises 1.5 pct
  • Trade salvos taken in stride, but trade war to remain key worry
  • Long-term US yields near 4-mth highs amid ebb in risk aversion
  • Oil prices consolidate after rally

Oil Markets

  • Oil prices steady as concerns about producer output outweigh US stockpile gain
  • Brent crude futures down 9 cents at $78.92 per barrel (0334GMT)
  • US WTI crude futures down 0.1 pct at $69.81 a barrel

Precious metals

  • Gold prices inch up as dollar eases despite trade dispute
  • Spot gold up 0.1 pct to $1,199.18 an ounce (0044GMT)
  • US gold futures up 0.1 pct at $1,203.70 an ounce

Grains

  • Soybeans linger near decade low as US-China trade war escalates
  • Most active CBOT wheat futures up 0.6 pct at $5.13-1/2 per bushel (0026GMT)
  • Most active corn futures up 0.1 pct at $3.43-1/2 per bushel
  • Most active soy futures up 0.2 pct at $8.15-1/4 per bushel
  • Most active rice futures unchanged at $10.05 per hundredweight

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

  • South Africa’s COSATU congress continues today (day 3; 17-20 Sep)
  • Final day of African ports and hinterland connectivity conference in Abuja (17-19 Sep)
  • South Africa consumer inflation data for August expected [fcst. 5.6% yy, prev. 5.1%]
  • South Africa’s state capture inquiry continues
  • Day 2 of Bank of Ghana MPC meeting (18-20 Sep); decision on 24 Sep

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Firestone reduces Liberia rubber wood output as low prices bite
  • South Africa sea snails under threat from surge in poaching – report
  • Donors halt aid to Zambian social welfare scheme over suspected misuse
  • Egypt sees surge in share offerings, testing market
  • eSwatini police, crowd clash during wage, pension fund protests
  • Soccer-Sierra Leone FIFA ban after anti-graft officials raid FA offices
  • Uganda to require telecom firms to list on local bourse
  • Africa Crude – Asia tenders keep spot Nigerian and Angolan trade muted
  • South African utility Eskom delays completion of new strategy
  • Iranian oil minister will not attend OPEC meeting in Algeria
  • Algeria energy export volumes down 2.8 pct in first quarter – ministry
  • Italian priest kidnapped overnight near Niger’s southern border
  • British fund Gemcorp extends $250 million loan to Zimbabwe – CEO
  • Zimbabwe opposition lawmakers walk out of Mnangagwa address
  • Sibanye-Stillwater, Lonmin still committed to merger after competition watchdog decision
  • Campaigners demand anti-FGM law as girls bleed to death in Somalia
  • Uganda shilling unchanged, forecast to weaken due to energy sector dollar demand
  • South Africa’s highest court gives green light to private use of cannabis
  • Italy judge set to give first ruling in Nigeria oil graft case
  • Militia fighting in Tripoli knocks out power in parts of Libya
  • Botswana trims growth prospects, sees wider budget deficits; 2.3 pct of GDP in 2018
  • South African fintech JUMO to expand in Asia with Goldman Sachs backing
  • Nigeria’s trafficking curse: the battle to dispel the black magic behind sex slavery
  • Uganda to renew operating license of local unit of MTN Group
  • Kenyan shilling gains slightly on inflows, commercial bank dollar sell-off
  • Vivo closes Engen purchase, excludes DRC
  • Bertelsmann to expand customer service alliance with Morocco’s Saham
  • Africa’s rapid population growth puts poverty progress at risk, says Gates

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

#Global #Markets | 19 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

(GMT+1)

CALENDAR
06:45 Switzerland SECO Economic Forecasts 
09:00 South Africa Inflation Rate YoY 
09:00 UK BoE Haldane Speech 
09:30 UK Inflation Rate MoM 
09:30 UK Core Inflation Rate YoY 
09:30 UK Inflation Rate YoY 
10:00 Euro Area Construction Output YoY 
13:30 US Current Account 
13:30 US Housing Starts 
13:30 US Building Permits 
13:30 US Housing Starts MoM 
13:30 US Building Permits MoM 
14:00 Russia Unemployment Rate 
15:00 Euro Area ECB Draghi Speech
NEWS
Malaysia Inflation Rate at 3-1/2 Year Low of 0.2% in August 
BoJ Holds Monetary Policy Steady 
Australia Leading Economic Index Rises 0.1% MoM 
Japan Trade Balance Swings to Deficit in August 
Japan Imports Extend Double-Digit Growth 
New Zealand Current Account Deficit Widens Sharply 
Jamaica Inflation Jumps to 5-Month High 
New Zealand Consumer Confidence Falls to 6-Year Low 
US Stocks Close Higher on Tuesday 
US International Treasury Purchases Below Expectations 
Ukraine GDP Growth Revised Up to 1-1/2-Year High 
Colombia Trade Gap Widens 14.8% YoY in July 
Colombia Imports Surge 15.9% YoY in July 
Coffee Hits 13-year Low

Source: Trading Economics, Macroafricaintel Research

#Africa #Markets | 18 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • US stock futures, Asian shares slip as Trump puts new tariffs on China
  • S&P500 E-mini futures down 0.2 pct
  • MSCI ex-Japan Asia-Pacific down 0.3 pct, but Nikkei up sharply
  • Trump imposes 10 pct tariffs on $200 bln goods from China
  • US 10-year bond yields retreat from 4-mth highs

Oil Markets

  • Oil prices drop as escalating trade war clouds demand outlook
  • Brent crude futures down 0.4 pct at $77.78 per barrel (0054GMT)
  • US WTI crude down 0.5 pct at $68.59 per barrel

Precious metals

  • Gold slips as new US tariffs on China lifts dollar
  • Spot gold down 0.1 pct at $1,199.20 an ounce (0027GMT)
  • US gold futures down 0.2 pct at $1,203.90

Grains

  • Soybeans fall to near 10-year low
  • Most active CBOT wheat futures up 0.4 pct at $5.08-1/2 per bushel (0016GMT)
  • Most active corn futures down 0.1 pct at $3.47-3/4 per bushel
  • Most active soy futures down 0.2 pct at $8.21-3/4 per bushel
  • Most active rice futures down 0.6 pct at $10.24 per hundredweight

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

  • South Africa’s COSATU congress continues today (day 2)
  • Day 2 of African ports and hinterland connectivity conference in Abuja (17-19 Sep)
  • South Africa consumer confidence index for Q3 2018 expected [prev. 22]
  • South Africa’s state capture inquiry continues

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Africa’s rapid population growth puts poverty progress at risk, says Gates
  • British fund Gemcorp extends $250 million loan to Zimbabwe – CEO
  • Nigeria’s disaster agency says 100 people killed in floods across 10 states
  • Burundi threatens to quit UN human rights council, sue critics
  • Germany, Algeria to work more closely on deportations, Merkel says
  • Nairobi governor orders investigation into deaths of 12 babies at maternity hospital
  • Uganda unit of Indian drugs firm Cipla raises $43.8 mln in IPO – Renaissance Capital
  • South Africa’s Naspers plans to spin-off, list pay-TV unit
  • International court sentences Congo politician Bemba for witness tampering
  • Africa Crude – Angolan Nov oil exports may fall to 3-mth low
  • South Africa’s competition watchdog imposes conditions on Sibanye-Lonmin deal
  • Charity denies promoting teen abortions after Kenya bans radio ad
  • At least 23 die in weekend of Ethiopia ethnic violence
  • Egypt cancels debt auction as foreign investor appetite weakens
  • South Africa not planning mass layoffs in public sector to fight recession – Ramaphosa
  • Uganda accuses EU parliament of meddling in its internal affairs
  • Ethiopian police detain 200 people over violence
  • South African unions sign wage deal with AngolGold Ashanti
  • Ugandan shilling weakens due to demand from manufacturing, energy companies
  • Egypt cancels t-bond auction for 3rd week – cenbank data
  • Tunisia’s 2019 debt payments to hit record of more than $3 bln
  • Egypt to offer extra shares in five state companies this year
  • Nigeria hits back at HSBC after bank warns of economic stagnation
  • South Africa’s Eskom has coal shortages at 10 power plants – spokesman
  • Kenyan shilling unchanged amid inflows from remittances, offshore investors
  • 5 die in stampede after Angolan soccer match
  • South Africa’s AfriAg seeks UK medical cannabis producer license
  • BP, Vitol go head to head in West African crude trading
  • A year after US sanctions ended, Sudan’s economy unravels

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