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 3^rd 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