#Africa #Markets | 26 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

 Global Markets

  • Asia stocks edge back from record highs, Trump comments support dollar
  • MSCI Asia-Pacific index flat, Nikkei up 0.15 pct
  • Dollar pulls back from 3-year lows on Trump’s comments
  • Dollar bounce weighs on crude oil

Oil Markets

  • Oil dips as dollar halts slide, short-term demand outlook weakens
  • Dollar halts slide after falling to 3-year low
  • Demand outlook seasonally weakens at end of winter
  • Rising US output determines OPEC/Russia supply cuts
  • Brent crude futures down 0.4 pct at $70.11 per barrel (0103GMT)
  • US WTI crude futures at $65.24 a barrel, down 0.4 pct 

Precious metals

  • Gold inches up after dropping from 1-1/2 year highs
  • Spot gold up 0.3 pct to $1, 350.86 per ounce (0126GMT)
  • US gold futures down 1 pct at $1,348

Grains

  • Soybeans set for 2nd week of gains, wheat up for 3rd session
  • Most active CBOT wheat futures up 0.5 pct to $4.36-3/4 per bushel (0127GMT)
  • Most active corn futures down 0.1 pct to $3.55 per bushel
  • Most active soybean futures unchanged at $9.92-1/4 per bushel
  • Most active rice futuures up 0.25 pct to $12.17 per hundredweight

Soft commodities (25 Jan)

  • Sugar, arabica coffee and US cocoa buoyed by weak dollar
  • March raw sugar settled up 0.6 pct at 13.24 cents per lb
  • March white sugar settled up 0.8 pct at $353.80 per tonne
  • March arabica coffee settled up 0.9 pct at $1.2365 per lb
  • March robusta coffee settled down 0.7 pct at $1,763 per tonne
  • March London cocoa settled down 0.1 pct at £1,356 per tonne
  • March New York cocoa settled up 0.3 pct at $1,960 per tonne

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

  • Last day of World Economic Forum in Davos [South Africa’s Ramaphosa back home; Trump to steal spotlight]
  • African Union summit continues [Started 22 Jan, key event 28-29 Jan]

Key African events or data releases yesterday
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • IMF’s Lagarde welcomes Mnangagwa’s promise to revive Zimbabwe economy
  • Nigeria eyes $2.5 bln eurobond sale in Q1 to refinance local debt
  • South Africa has no money for major nuclear expansion, Ramaphosa says
  • Toyota South Africa recalls more than 700k vehicles
  • Nigeria’s 9mobile takeover looms as advisers evaluate bids – sources
  • Senegal arrests 24 suspects in Casamance killings
  • Ivory Coast seizes huge haul of elephant tusks and pangolin scales
  • ANC leader says South Africa in new era as talk of Zuma exit grows
  • Yields on Kenya’s 182-day t-bill dips at auction
  • One in 20 of South Africa’s rhinos slaughtered in 2017
  • Gunmen cross from Nigeria, attack Cameroon border post
  • Nigeria to protest US conditions on $494 million purchase of fighter planes
  • Nigeria says weaker dollar may not hurt the country
  • Moody’s says Egypt’s new bankruptcy law is credit positive for banks
  • At least 43,000 Cameroonian refugees flee to Nigeria
  • Nigerian VP noncommittal on Buhari’s 2019 election plans
  • South African enquiry can investigate Guptas in fresh blow to Zuma
  • Nigerian naira likely to edge up in week ahead
  • Investors excited by “new era” in South Africa – Ramaphosa
  • Liberia bans female genital mutilation – but only for a year
  • South Sudan ceasefire body says leaders breaking peace deal could face sanctions
  • Yields rise at Nigerian bond auction after central bank rate impasse
  • Volkswagen South Africa says invested 6.1 bln rand since 2015
  • South Africa sets parameters for Zuma influence-peddling inquiry
  • South Africa’s producer inflation in Dec rises to 5.2 pct y/y
  • Zambia inflation picks up to 6.2 pct in January
  • South African rand pauses rally, weakens 0.25 pct
  • Kenyan shilling weakens as banks cover short dollar positions

N.B. Full stories of above headlines are available on Reuters

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