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Africa, Forex

African Markets – Factors to watch on June 18

NAIROBI, June 18 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. – – – – – GLOBAL MARKETS Asian shares inched higher on Friday but were set for a weekly loss, while the U.S. dollar hovered near two-month highs as investors continued to digest comments from the U.S. Federal Reserve projecting interest rate hikes in 2023. WORLD OIL PRICES Oil prices fell for a second consecutive day on Friday as the U.S. dollar soared on the prospect of interest rate hikes in the United States, but were nevertheless on track to finish the week flat – only slightly off multi-year highs. 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 touched a one-month low against the dollar on Thursday and stocks dropped, after the U.S. Federal Reserve unexpectedly brought forward its projections for interest rate hikes. KENYA MARKETS The Kenyan shilling was stable on Thursday mainly due to subdued demand for hard currency. KENYA EUROBOND Kenya has received orders just short of $6 billion for its $1 billion Eurobond offering that priced at 6.3%, a senior banker at one of the lead managers said on Thursday. DEMOCRATIC REPUBLIC OF CONGO Democratic Republic of Congo’s central bank on Thursday cut its main interest rate for the third time since the start of the year, to 8.5% from 10.5%, saying it expected a period of macroeconomic stability. TANZANIA Tanzania is working to join the COVAX global vaccine-sharing facility and will sit down with aid agencies next week to plan its first national COVID inoculation campaign, World Health Organization officials said on Thursday. GHANA RESERVES Ghana’s central bank will purchase 8.7 tonnes of domestically-mined gold over the next five years to bolster its foreign currency reserves, Governor Ernest Addison said on Thursday. 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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