By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Markets now wagering on Fed rate cut, China-US trade talks calm nerves
- US, China to hold trade talks Jan 7-8
- Treasuries rally, 2-year yields below Fed rates
- Dollar on defensive vs yen, near 9-mth lows
- Safe-haven gold around 6-1/2 mth peak
Oil Markets
- Oil stabilises on China-US trade talks, OPEC cuts
- OPEC cuts to provide oil price support – FGE
- Brent crude futures barely changed at $55.93 a barrel (0345GMT)
- US WTI crude futures up 0.1 pct at $47.15
Precious metals
- Gold scales over 6-1/2 mth high on global growth fears
- SPDR Gold holdings rise on Wednesday
- Spot gold up 0.2 pct at $1,296.35 per ounce (0301GMT)
- US gold futures up 0.4 pct at $1,299.50 per ounce
Grains
- Wheat up for 3rd session on US export prospects
- Most active CBOT wheat futures up 0.2 pct at $5.14-3/4 per bushel (0137GMT)
- Most active corn futures up 0.2 pct at $3.80-1/2 per bushel
- Most active soy futures little changed at $9.12-1/2 per bushel
- Most active rice futures down 0.1 pct at $10.43 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- Nigerian labour unions to meet authorites on strike threat over minimum wage
- Nigeria Stanbic IBTC PMI data for December [prev. 55.5]
- South Africa Standard Bank PMI data for December [prev. 48.2]
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- Ex-Credit Suisse bankers arrested on US charges over Mozambique loans
- One candidate clearly won Congo election – Catholic Church
- Libya’s NOC sees Sharara oilfield output losses of 11,000 bpd after restart
- UN says Algerian security move has stranded vulnerable Syrians in desert
- OPEC sends fewest oil cargoes to US in at least 5 years
- Kicked out of Somalia, UN envoy publicly raises poll concerns
- Africa Crude – Sasol issues buy tender, spot activity muted
- South African rand steadies after being hit by global selloff
- Arrest of ex-Mozambique finance minister linked to debt crisis – lawyer
- Senegal presidential hopeful loses appeal against jail time
- Sudan unrest disrupts Bashir’s push for vital financial support
- Sudan forces fire tear gas at protesters trying to deliver anti-govt petition
- Congo eleciton mishaps kept many from voting – domestic observers
- 2 militants in Tunisia blow themselves up as security forces storm hideout
- Kenya, Tanzania, Uganda currencies seen weakening next week
- Ethiopia expects Nile dam GERD to be ready to start operation in late 2020
- Congo govt defends trouble-hit election process
- New Barrik eyes several options to end Tanzania tax dispute – CEO
- Egypt to auction $750 mln in 1-yr dollar t-bills – c.bank
- Niger troops kill more than 280 Boko Haram fighters – govt
- Zambia says mines have failed to show impact of higher taxes
- Uganda shilling loses some ground as banks exert demand
- Kenya shilling weakens slightly on uptick in importer demand
- Libya’s closed Sharara oilfield losing 8,500 bpd to looting – NOC
N.B. Full stories of above headlines are available on Reuters
