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Africa, Forex

African Markets – Factors to watch on Jan 11

NAIROBI, Jan 11 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. – – – – – GLOBAL MARKETS Asian equities and the dollar struggled to find direction on Tuesday, with attention squarely on the timing and pace of U.S. monetary policy normalisation, but investors took some comfort from a late rebound in U.S. stock markets. WORLD OIL PRICES Oil prices rose on Tuesday after two days of losses, with some risk appetite returning as the market awaited clues from the U.S. Federal Reserve chairman on potential rate rises and as some oil producers continued to struggle to beef up output. 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 The South African rand weakened on Monday as the dollar strengthened on bets that U.S. inflation data later this week will bolster the argument for the Federal Reserve to raise interest rates. KENYA MARKETS The Kenyan shilling was little-changed on Monday but was inclined to weaken due to importer dollar demand from the energy sector, traders said. ETHIOPIA WAR U.S. President Joe Biden raised concerns about air strikes in the conflict in northern Ethiopia and about human rights issues during a call with Ethiopian Prime Minister Abiy Ahmed on Monday, the White House said. IVORY COAST COCOA Above-average light rains last week across most of Ivory Coast’s cocoa-growing regions sustained hopes of a good start to the April-to-September mid-crop, farmers said on Monday. NIGERIA Nigerian stocks climbed 1.08% to almost a four-year high on Monday, extending gains achieved in 2021, Refinitiv Eikon data showed. 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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