#Global #Markets | 11 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

(GMT+1)

CALENDAR
06:00 Japan Eco Watchers Survey Outlook 
09:20 Euro Area ECB Mersch Speech 
10:00 Italy Industrial Production MoM 
10:30 UK Industrial Production YoY 
10:30 UK Industrial Production MoM 
10:30 UK Manufacturing Production MoM 
10:30 UK Manufacturing Production YoY 
10:30 UK Construction Output YoY 
10:30 UK Balance of Trade 
10:30 UK GDP 3-Month Avg 
10:30 UK GDP YoY 
10:30 UK GDP MoM
NEWS
Malaysia Industrial Output Growth Slows in November 
Malaysia Retail Sales Rise the Most in 3 Months 
Thailand Jobless Rate Falls to 2-Year Low of 0.9% 
Brunei Inflation Rate Rises to 0.2% in November 
Australia Retail Sales Beat Estimates 
Philippines Retail Price Rises the Least in 9 Months 
Japan Current Account Surplus Narrows in November 
Peru Holds Interest Rate at 2.75% 
Australia Construction PMI Falls Deeper into Recession 
New Zealand New Building Consents Rise Further 
US Stocks Extend 5-Day Rally 
Kuwait Current Account Surplus Shrinks in Q3

Source: Trading Economics, Macroafricaintel Research

#Africa #Markets | 10 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares check rally as US-China trade talks, Fed policy in focus
  • More Fed officials say caution needed before further rate hikes
  • Nikkei dips 1.5 pct, Hang Seng off 0.5 pct
  • Canada’s central bank holds rates steady overnight

Oil Markets

  • Oil dips after jumping on US-China trade talks, OPEC cuts
  • Brent crude futures down 1 pct at $60.81 per barrel (0113GMT)
  • US WTI crude futures down 1.2 pct at $51.75 per barrel

Precious metals

  • Gold prices steady as interest rate outlook pressures dollar
  • Spot gold a tad lower at $1,292.46 per ounce (0141GMT)
  • US gold futures up 0.1 pct at $1,293.20 per ounce

Grains

  • Soybeans edge lower; Sino-US trade optimism curbs losses
  • Most active CBOT wheat futures down 0.1 pct at $5.19-1/4 per bushel (0141GMT)
  • Most active corn futures down 0.2 pct at $3.81-1/4 per bushel
  • Most active soy futures down 0.3 pct at $9.21 per bushel
  • Most active rice futures down 0.1 pct at $10.79 per hundredweight

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

  • Top officials of South Africa’s ruling ANC on the road across the country for week-long 107th birthday activities
  • South Africa manufacturing production data for November expected [fcst. 2.6% yy, prev. 3.0%]
  • South Africa SACCI business confidence data for Dec still expected; overdue [prev. 96.1]

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

  • Runner-up in Congo’s presidential election dismisses results as an “electoral coup”
  • Egypt non-oil private sector activity shrinks in December, but at slowing rate
  • Congo election winner Felix Tshisekedi pays homage to outgoing president Kabila
  • Tshisekedi win in Congo presidential election at odds with Catholic Church tallies – diplomats
  • Bashir vows to stay in power as Sudan protests rage on
  • 1 person dead, 6 injured in Sudanese protests – medical sources
  • UN alarmed at uprooting of civilians in Nigeria’s war with militants
  • Nigeria producing 1.78 mln barrels of crude per day – minister
  • Africa Crude – Nigerian crude diffs bounce to multi-month high
  • Tanzania’s Magufuli wants central bank to buy gold as part of its reserves
  • South Africa, Zambia urge Congo to release vote result to maintain stability
  • Nigerian military frees editor held over Boko Haram article
  • South African court finds Mozambican ex-finmin’s detention legal
  • Nigeria’s Buhari says he will raise minimum wage, but not how much
  • Zimbabwe public workers threaten to join pay strike
  • South Africa’s Absa PMI rise further in December
  • Kenya shilling firm against the dollar

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

#Global #Markets | 10 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

(GMT+1)

CALENDAR
08:45 France Industrial Production MoM 
10:00 Italy Retail Sales MoM 
13:30 Euro Area ECB Monetary Policy Meeting Accounts 
14:00 Russia Inflation Rate YoY 
14:30 Canada New Housing Price Index MoM 
14:30 Canada New Housing Price Index YoY 
14:35 US Fed Barkin Speech 
15:00 Mexico Consumer Confidence 
18:30 US Fed Bullard Speech 
18:45 US Fed Chair Powell Speech 
19:00 US 30-Year Bond Auction 
19:00 US Fed Evans Speech
NEWS
Philippines Exports Fall for 1st Time in 6 Months 
China Producer Prices Rise the Least in 27 Months 
Philippines Trade Deficit Widens in November 
Philippines Import Growth Slows Sharply 
US Stocks Edge Higher on Wednesday 
Fed Cautious on Future Rate Hikes: FOMC Minutes 
El Salvador Inflation Rate at 22-Month Low in December 
Oil Prices Rally 
European Stocks Close Mostly Higher on Wednesday 
Ukraine Inflation Rate Slows to 9.8% in December 
US Crude Inventories Fall Less than Expected 
Ghana Annual Inflation Rate Rises to 9.4% in December

Source: Trading Economics, Macroafricaintel Research

#Africa #Markets | 9 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares hit 3-1/2-wk high on US-China trade optimism, oil climbs
  • Trump tweets that China trade talks are going well
  • Hopes of a US-China trade deal underpin risk assets
  • Markets show little reaction to Trump’s address on border wall
  • Oil prices also extend rally on trade deal hopes

Oil Markets

  • Oil prices surge on hopes of successful US-China trade talks
  • Brent up 0.7 pct at $59.14 per barrel (0131GMT)
  • US WTI crude futures up 1 pct at $50.29 per barrel

Precious metals

  • Gold steady as trade hopes offset Fed stance; palladium at record high
  • Palladium hits record high
  • Markets await FOMC minutes later in session
  • Gold may be seeing a top, technically – analyst
  • Spot gold down 0.2 pct at $1,282.97 per ounce (0404GMT)
  • US gold futures down 0.1 pct at $1,284.5 per ounce

Grains

  • Wheat firms 1 pct to linger near 20-day high
  • Most active CBOT wheat futures up 1 pct at $5.23 per bushel (0143GMT)
  • Most active corn futures up 0.5 pct at $3.81-3/4 per bushel
  • Most active soy futures up 0.4 pct at $9.22-1/2 per bushel
  • Most active rice futures down 0.5 pct at $10.69 per hundredweight

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

  • Top officials of South Africa’s ruling ANC spread across country celebrating party’s 107th birthday
  • South Africa ABSA manufacturing PMI data for December due [prev. 49.5]
  • South Africa SACCI business confidence data for December expected [prev. 96.1]

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

  • Sudan’s Bashir scoffs at opposition as more demonstrations take place
  • Soccer – Salah voted African footballer of the year
  • Sudan security forces disperse hundreds in al-Qadarif
  • Madagascar court declares Rajoelina president, rejects fraud complaint
  • Congo opposition campaign says talking with Kabila camp on transition
  • Uganda aims to pick bidder to build, operate highway by end-2019
  • Zambia president heads for “urgent” Congo election meeting in South Africa
  • Zimbabwe teachers divided on strike for US dollar pay
  • Africa Crude – Nigerian crude diffs supported by tenders
  • Kenya says no schoolgirls being screened for FGM after backlash
  • Uganda govt says not concerned by heavy debt load, to borrow cautiously
  • Congo election observer saw “major” irregularities in vote count
  • Somali region once riddled with pirates sees powerful power transfer
  • Egypt limits Gaza passage after Palestinian Authority quits border crossing
  • Ivory Coast SIR oil refinery secures 577 mln euro loan
  • Kenya’s NSE halts equities trading due to technical hitch
  • Import costs choke output at Libya’s only truck factory
  • Uganda shilling loses ground as demand from manufacturers weighs
  • Tanzania names latest mining minister in ongoing industry clash
  • Three killed, hundreds injured in South Africa train collision
  • Soccer – Egypt to host 2019 African Nations Cup
  • Former Mozambican finmin challenges detention in South Africa
  • Congo miner SMB leaves ITSCI responsible-sourcing scheme over cost
  • Private equity firms AfricInvest, Catalyst invest in Kenya’s Prime Bank
  • US military says it kills 6 militants in an air strike in Somalia
  • South Africa’s net reserves rise to $43.09 bln in December

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

#Global #Markets | 9 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

(GMT+1)

CALENDAR
08:00 Germany Balance of Trade 
08:00 Germany Balance of Trade s.a 
08:00 Germany Exports MoM s.a 
08:00 Germany Imports MoM s.a 
08:30 Switzerland Inflation Rate YoY 
08:45 France Consumer Confidence 
09:00 Euro Area ECB Non-Monetary Policy Meeting 
10:00 Italy Unemployment Rate 
10:00 South Africa ABSA Manufacturing PMI 
11:00 Euro Area Unemployment Rate 
14:00 Poland Interest Rate Decision 
14:15 Canada Housing Starts
NEWS
Australia Dwelling Approvals Fall in November 
Japan Cash Earnings Growth Beats Expectations 
South Korea Unemployment Rate Steady at 3.8% 
Australia Services PMI Falls 3 Points 
US Consumer Credit Growth Beats Expectations 
European Stocks Rise on Trade Talks 
Macedonia Inflation Rate Drops to 21-Month Low 
US Job Openings Fall Sharply in November 
Brazil New Vehicle Sales Rebound Slightly in December 
Brazil Car Output Tumbles 27.4% MoM in December 
Canada Imports Decrease 0.5% MoM in November 
Canada Exports Fall for 4th Month

Source: Trading Economics, Macroafricaintel Research

#Africa #Markets | 8 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares propped up by hopes for Sino-US trade deal, cautious Fed
  • Nikkei gains 1 pct, ex-Japan Asia-Pacific up 0.1 pct
  • Optimistic comments on China-US trade talks lifts mood
  • Fed’s flexible stance, strong US data underpin shares

Oil Markets

  • Oil stable on trade talk optimism and OPEC cuts, but slowdown looms
  • OPEC-led crude supply cuts support oil prices
  • US crude output could already be above 12 mln bpd – JBC Energy
  • Brent crude futures up 0.1 pct at $57.43 per barrel (0218GMT)
  • US WTI crude futures up 0.2 pct at $48.62 per barrel

Precious metals

  • Gold steady as dollar sags on Fed rate pause bets
  • SPDR Gold holdings near August highs
  • Palladium holding near record highs hit on Monday
  • Spot gold little changed at $1,287.70 per ounce (0148GMT)
  • US gold futures eased slightly at $1,288 per ounce

Grains

  • Soybeans snap winning streak, retreat from 3-wk high
  • Most active CBOT wheat futures down 0.2 pct at $5.15-3/4 per bushel (0125GMT)
  • Most active corn futures up 0.1 pct at $3.82-3/4 per bushel
  • Most active soy futures down 0.2 pct at $9.22-1/4 per bushel
  • Most active rice futures up 0.2 pct at $10.69 per hundredweight

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

  • South Africa FX reserves data for December expected [prev. $50.7B]
  • South Africa SACCI business confidence data for December due [prev. 96.1]
  • South Africa’s ruling ANC’s birthday today; top officials on the road
  • Nigeria’s labour unions on countrywide protest today

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

  • Ex-president Jammeh was ‘trouble’ for Gambia from the start – 1st Commission witness
  • Mozambique indicts 18 people in connection with $2 bln loan scheme
  • More than 800 detained in Sudan protests – govt
  • Egypt foreign reserves drop to $42.551 bln in Dec, first time post-devaluation
  • Africa Crude – IOC issues new tender, no spot activity
  • Strong euro hurts Paris wheat as traders await Algeria tender
  • Gabon thwarts military coup attempt in President’s absence
  • Zimbabwe teachers to strike over pay as currency crisis deepens
  • 2 suspects killed, 7 captured in failed Gabon coup attempt
  • Egypt reopens 5 ports shut by bad weather, 2 remain closed
  • Tunisia tourism revenues jump by 45 pct with record number of visitors in 2018
  • France condemns Gabon coupt attempt, urges its citizens not to move around capital
  • Congo mining company leaves ITSCI certification scheme over cost
  • Egypt to implement price indexation mechanism on gasoline starting April
  • Kenya’s earnings from tourism surge 31.2 pct in 2018
  • Ugandan shilling weakens slightly on manufacturing demand
  • Gabon dollar bonds tumble amid apparent coup attempt
  • Kenyan shilling firms against the dollar
  • Egypt’s Sisi acknowledges close coordination with Israel in Sinai
  • Nigeria military raids paper after Boko Haram article

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

#Global #Markets | 8 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

(GMT+1)

CALENDAR
06:00 Japan Consumer Confidence 
06:30 Netherlands Inflation Rate YoY 
07:45 Switzerland Unemployment Rate 
08:00 Germany Industrial Production MoM 
08:30 Switzerland Retail Sales YoY 
08:45 France Balance of Trade 
11:00 Euro Area Economic Sentiment 
11:00 Euro Area Industrial Sentiment 
11:00 Euro Area Services Sentiment 
11:00 Euro Area Business Confidence 
12:00 Brazil Industrial Production YoY 
12:00 Ireland Unemployment Rate
NEWS
Australia Job Ads Flat in December 
Australia Imports Climb 2% MoM 
Australia Exports Edge Up 1% MoM 
Australia Trade Balance Narrows in November 
South Korea Current Account Surplus Narrows in November 
Nicaragua Current Account Deficit Swings to Surplus 
US Stocks Extend Rally on Monday 
Canada Ivey PMI Beats Forecasts in December 
Israel Holds Interest Rate Steady at 0.25% 
Ecuador Annual Inflation Rate Slows to 0.27% in December 
Chile Trade Surplus Narrows 54% YoY in December 
Indonesia Consumer Morale Improves to 6-Month High

Source: Trading Economics, Macroafricaintel Research