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Africa, Forex

African Markets – Factors to watch on Jan 12

NAIROBI, Jan 12 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. – – – – – GLOBAL MARKETS Stocks and commodities rose in relief and the dollar hit a six-week low on Wednesday, after Federal Reserve Chair Jerome Powell sounded less hawkish than expected in testimony to Congress, as he charts a path out of pandemic policy settings. WORLD OIL PRICES Oil prices climbed on Wednesday, extending big gains in the previous session after the U.S. Federal Reserve chief signalled the central bank may raise rates more slowly than expected, which should support oil demand in the near term. 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 strengthened slightly on Tuesday, as the dollar struggled for momentum ahead of U.S. Federal Reserve Chair Jerome Powell’s congressional hearing later in the day. KENYA MARKETS The Kenyan shilling traded stable on Tuesday amid a slowdown in importer appetite for hard currency, traders said. NIGERIA ENERGY Nigeria has shut a 504 megawatt gas power plant in the Niger Delta after the TotalEnergies declared force majeure on a gas line that was vandalised, Niger Delta Power Holding Company Limited (NDPCH) said on Monday. GHANA BONDS Ghana plans to issue 24.5 billion cedi ($4.05 billion) of bonds in the first quarter of 2022, according to the government’s issuance calendar seen on Tuesday. MALI DEBT Mali will not be able to complete a 30 billion CFA franc ($52 million) sale of T-bills this week because of sanctions imposed by its neighbours, regional financial officials said. ETHIOPIA AVIATION Ethiopian Airlines is profitable and cash positive, underpinned by booming demand for air cargo, its chief executive said on Tuesday. 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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