By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asian shares propped up by hopes for Sino-US trade deal, cautious Fed
- Nikkei gains 1 pct, ex-Japan Asia-Pacific up 0.1 pct
- Optimistic comments on China-US trade talks lifts mood
- Fed’s flexible stance, strong US data underpin shares
Oil Markets
- Oil stable on trade talk optimism and OPEC cuts, but slowdown looms
- OPEC-led crude supply cuts support oil prices
- US crude output could already be above 12 mln bpd – JBC Energy
- Brent crude futures up 0.1 pct at $57.43 per barrel (0218GMT)
- US WTI crude futures up 0.2 pct at $48.62 per barrel
Precious metals
- Gold steady as dollar sags on Fed rate pause bets
- SPDR Gold holdings near August highs
- Palladium holding near record highs hit on Monday
- Spot gold little changed at $1,287.70 per ounce (0148GMT)
- US gold futures eased slightly at $1,288 per ounce
Grains
- Soybeans snap winning streak, retreat from 3-wk high
- Most active CBOT wheat futures down 0.2 pct at $5.15-3/4 per bushel (0125GMT)
- Most active corn futures up 0.1 pct at $3.82-3/4 per bushel
- Most active soy futures down 0.2 pct at $9.22-1/4 per bushel
- Most active rice futures up 0.2 pct at $10.69 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- South Africa FX reserves data for December expected [prev. $50.7B]
- South Africa SACCI business confidence data for December due [prev. 96.1]
- South Africa’s ruling ANC’s birthday today; top officials on the road
- Nigeria’s labour unions on countrywide protest today
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- Ex-president Jammeh was ‘trouble’ for Gambia from the start – 1st Commission witness
- Mozambique indicts 18 people in connection with $2 bln loan scheme
- More than 800 detained in Sudan protests – govt
- Egypt foreign reserves drop to $42.551 bln in Dec, first time post-devaluation
- Africa Crude – IOC issues new tender, no spot activity
- Strong euro hurts Paris wheat as traders await Algeria tender
- Gabon thwarts military coup attempt in President’s absence
- Zimbabwe teachers to strike over pay as currency crisis deepens
- 2 suspects killed, 7 captured in failed Gabon coup attempt
- Egypt reopens 5 ports shut by bad weather, 2 remain closed
- Tunisia tourism revenues jump by 45 pct with record number of visitors in 2018
- France condemns Gabon coupt attempt, urges its citizens not to move around capital
- Congo mining company leaves ITSCI certification scheme over cost
- Egypt to implement price indexation mechanism on gasoline starting April
- Kenya’s earnings from tourism surge 31.2 pct in 2018
- Ugandan shilling weakens slightly on manufacturing demand
- Gabon dollar bonds tumble amid apparent coup attempt
- Kenyan shilling firms against the dollar
- Egypt’s Sisi acknowledges close coordination with Israel in Sinai
- Nigeria military raids paper after Boko Haram article
N.B. Full stories of above headlines are available on Reuters
