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Africa, Forex

African Markets – Factors to watch on Nov 20

NAIROBI, Nov 20 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. – – – – – GLOBAL MARKETS World financial markets were hit by a wave of uncertainty on Friday after U.S. Treasury Secretary Steven Mnuchin called for an end to coronavirus pandemic relief for struggling businesses, sparking a rare clash between the central bank and Treasury. WORLD OIL PRICES U.S. oil prices slipped on Friday, dropping for a second day as concerns mounted about the hit to demand from the surge in COVID-19 infections forcing new lockdowns, but prices were supported by signs of movement on a stimulus deal in Washington. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on SOUTH AFRICA MARKETS South Africa’s rand weakened on Thursday as the central bank’s decision to hold rates gave scant support and as traders awaited a sovereign rating review on Friday. AFRICA CURRENCIES Nigeria’s naira and the Kenyan shilling are expected to lose value against the dollar in the week ahead as demand pressures from importers build ahead of Christmas shopping season. AFRICA DEBT African countries face another debt crisis and will need more long-term help than the latest G20 debt plan offers them to ward off trouble ahead and keep much-needed investments coming in, according to policymakers, analysts and investors. KENYA MARKETS Kenya’s shilling was steady on Thursday, but traders said they expected it to weaken due to increased dollar demand from importers like oil companies, amid lower inflows from sectors like tourism. UGANDA POLITICS Sixteen people have been killed in Uganda in army and police operations to quell protests that broke out over the arrest of presidential candidate and pop star Bobi Wine, authorities said on Thursday. ETHIOPIA CONFLICT Ethiopia said on Thursday it was bearing down on the capital of Tigray region in a two-week-old war, and tore into the World Health Organization (WHO) head with accusations of diplomatic lobbying for the rebels, allegations he denied. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on


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