#Africa #Markets | 2 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares blindsided by dismal China data
  • Asia shares retreat as China factory activity contracts
  • Asia liquidity lacking with Japan on holiday
  • Bonds well bid as market prices out Fed hikes
  • US payrolls, Fed’s Powell feature later in the week

Oil Markets

  • Oil falls in first day of 2019 trading as supply surges, economy slows
  • Analysts expect volatile 2019 markets
  • China factory activity falls for 1st time in 19 months – PMI
  • US is now world’s top oil producer
  • Brent crude futures down 0.6 pct at $53.47 per barrel (0315GMT)
  • US WTI crude futures down 0.2 pct at $45.32 per barrel

Precious metals

  • Gold dips as renewed risk appetite lifts Asian stocks
  • Spot gold down 0.2 pct at $1,279.31 per ounce (0120GMT)
  • US gold futures little changed at $1,281 per ounce

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

  • Armed men kill 37 civilians in part of Mali hit by ethnic violence
  • Trump and Egypt’s Sisi discuss Middle East in phone call
  • Congo cuts internet for 2nd day to avert “chaos” before poll results

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

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