By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asia tenses for Fed call, oil slide boosts bonds
- All eyes on Fed meeting, markets wager on a ‘dovish’ hike
- Fed seen dropping “gradual increases”, lowering dot forecast
- Latest plunge in oil prices drags on inflation outlook
- Asian stocks hesitant as investors rush to bonds
Oil Markets
- US oil prices climb after tumble, but oversupply worries drag
- Producer deal to cut output does not kick in until January
- US crude oil inventories rose last week – API
- Pessimism over global economic growth also drags
- Markets look to outcome of Fed meeting
- Brent up 0.9 pct at $56.75 per barrel (0122GMT)
- US WTI up 0.8 pct at $46.24 per barrel
Precious metals
- Gold scales over 5-mth peak, investors await Fed outlook
- Holdings in SPDR Gold Trust rose over 1 pct on Tuesday
- Spot gold may test resistance at $1,253/oz – technicals
- Spot gold up 0.1 pct at $1,250.20 per ounce (0405GMT)
- US gold futures up 0.1 pct at $1,254.60 per ounce
Grains
- Soybeans edge lower, Chinese purchases limit losses
- Most active CBOT wheat futures down 0.6 pct at $5.29-1/2 per bushel (0131GMT)
- Most active corn futures down 0.2 pct at $3.84-3/4 per bushel
- Most active soy futures down 0.2 pct at $9.05-3/4 per bushel
- Most active rice futures up 1.3 pct at $10.67 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- Nigeria labour statistics for Q3 2018 to be released today
- Nigeria’s Buhari to deliver 2019 budget speech
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- 2 Madagascar ex-presidents compete in run-off election
- South African rand rise as dollar slides ahead of Fed meeting
- Glencore’s Katanga pays $22 mln to settle Canada regulator probe
- Libya’s NOC declares force majeure on El Sharara oilfield
- Africa crude – Nigerian diffs supported as lower offers bring in buyers
- Italy judges say Saipem knew about, aided bribes in Algeria
- Probe decries Zimbabwe’s army’s deadly post-vote crackdown
- All crew kidnapped by pirates off Nigerian coast in October freed – statement
- Pernod Ricard invests in Africa’s online retailer Jumia
- French pair invent plastic-to-fuel recycler fit for African bush
- Morocco’s central bank says IMF funding recognition of Morocco’s fundamentals
- Kenya’s Airtel gains mobile share in 3rd quarter, Safaricom slips
- Zimbabwe inquiry finds use of live bullets to stop election violence unjustified
- Nigeria’s first gold refinery plans to triple capacity in 5 years
- Italy deputy PM won’t comment on Nigeria graft case, respects Eni CEO
- UN launches $2.7 bln appeal for Africa’s biggest refugee crisis
- Kenya grants Standard Investment Bank online forex trading licence
- Sierra Leone’s doctors end nationwide strike
- FIFA bans Gambia football head for 4 years for corruption
- Botswana’s retailer Choppies replaces CFO
- Ivory Coast to raise up to $2.5 bln in 2019 – minister
- Siemens to invest additional 500 mln euro in Africa
- Ugandan shilling flat as importer demand ebbs
- IMF approves $3 bln precautionary and liquidity line for Morocco
- Cash-strapped South African Airways expands Emirates code sharing
- Kenyan shilling gains on tight money market liquidity
- Rediscovering truth: African storytellers tap into rich tradition
- South African lender Nedbank’s shares slip on news of probe into associate
N.B. Full stories of above headlines are available on Reuters
