Bitcoin price today: dips below $112k, near 6-wk low despite Fed cut bets
The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Tuesday.
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EVENTS:
KENYA - The Finance Minister Henry Rotich, and other senior
officials, will be charged in court in relation to graft.
NIGERIA - The central bank sets lending rates. Some analysts
expect the bank to cut rates by 50 basis points to 13% while
others expect a hold.
GLOBAL MARKETS
Expectations that the European Central Bank and Federal
Reserve will cut interest rates boosted stocks globally,
while the pound sagged on worries that likely new prime
minister Boris Johnson would lead Britain into a no-deal
exit from the European Union.
MKTS/GLOB
WORLD OIL PRICES
Oil prices edged higher on Tuesday amid lingering concerns
about possible supply disruptions in the Middle East, but an
overall weaker demand outlook kept a lid on gains, helped by
a vow by the International Energy Agency (IEA) to take swift
action to keep global oil markets adequately supplied.
O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand rallied on Monday, brushing aside local
political ructions as investors increased bets on further
monetary easing by the European and U.S. central banks.
POWER
Nigeria and German company Siemens SIEGn.DE have agreed a
roadmap to nearly triple the country's "reliable" power
supply by 2023, President Muhammadu Buhari said on Monday.
CLASHES
Nigerian police and Shi'ite Muslim protesters clashed in the
capital Abuja on Monday, with at least one demonstrator, one
journalist and a senior policeman killed, highlighting one
of the security challenges faced by the country with
Africa's biggest economy.
CORRUPTION
Kenyan Finance Minister Henry Rotich was arrested on Monday
on suspicion of financial misconduct related to the
construction of two dams, an unprecedented detention of a
sitting minister for corruption in a country notorious for
graft.
MARKETS
The Kenyan shilling KES= weakened against the dollar on
Monday due to oil importer demand and excess liquidity in
the local money market, traders said.
VICE PRESIDENT
Zimbabwean Vice President Constantino Chiwenga has been
flown to China for medical treatment, a presidential
spokesman said on Monday, but gave no details of the health
problems that have kept Chiwenga away from work for more
than two months.
FUEL
Zimbabwe hiked fuel prices on Monday for the second time in
a week but most pumps remained dry, with no end in sight to
shortages that are helping drive inflation rapidly higher
and which have led to protests about the cost of living.
COAST COCOA
Rains were below average last week in most of Ivory Coast's
cocoa growing regions and more sun was needed for the main
October-to-March main crop to develop well, farmers said on
Monday.
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