By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asian shares hit 3-1/2-wk high on US-China trade optimism, oil climbs
• Trump tweets that China trade talks are going well
• Hopes of a US-China trade deal underpin risk assets
• Markets show little reaction to Trump’s address on border wall
• Oil prices also extend rally on trade deal hopes

Oil Markets

• Oil prices surge on hopes of successful US-China trade talks
• Brent up 0.7 pct at $59.14 per barrel (0131GMT)
• US WTI crude futures up 1 pct at $50.29 per barrel

Precious metals

• Gold steady as trade hopes offset Fed stance; palladium at record high
• Palladium hits record high
• Markets await FOMC minutes later in session
• Gold may be seeing a top, technically – analyst
• Spot gold down 0.2 pct at $1,282.97 per ounce (0404GMT)
• US gold futures down 0.1 pct at $1,284.5 per ounce

Grains

• Wheat firms 1 pct to linger near 20-day high
• Most active CBOT wheat futures up 1 pct at $5.23 per bushel (0143GMT)
• Most active corn futures up 0.5 pct at $3.81-3/4 per bushel
• Most active soy futures up 0.4 pct at $9.22-1/2 per bushel
• Most active rice futures down 0.5 pct at $10.69 per hundredweight

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

• Top officials of South Africa’s ruling ANC spread across country celebrating party’s 107^th birthday
• South Africa ABSA manufacturing PMI data for December due [prev. 49.5]
• South Africa SACCI business confidence data for December expected [prev. 96.1]

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

• Sudan’s Bashir scoffs at opposition as more demonstrations take place
• Soccer – Salah voted African footballer of the year
• Sudan security forces disperse hundreds in al-Qadarif
• Madagascar court declares Rajoelina president, rejects fraud complaint
• Congo opposition campaign says talking with Kabila camp on transition
• Uganda aims to pick bidder to build, operate highway by end-2019
• Zambia president heads for “urgent” Congo election meeting in South Africa
• Zimbabwe teachers divided on strike for US dollar pay
• Africa Crude – Nigerian crude diffs supported by tenders
• Kenya says no schoolgirls being screened for FGM after backlash
• Uganda govt says not concerned by heavy debt load, to borrow cautiously
• Congo election observer saw “major” irregularities in vote count
• Somali region once riddled with pirates sees powerful power transfer
• Egypt limits Gaza passage after Palestinian Authority quits border crossing
• Ivory Coast SIR oil refinery secures 577 mln euro loan
• Kenya’s NSE halts equities trading due to technical hitch
• Import costs choke output at Libya’s only truck factory
• Uganda shilling loses ground as demand from manufacturers weighs
• Tanzania names latest mining minister in ongoing industry clash
• Three killed, hundreds injured in South Africa train collision
• Soccer – Egypt to host 2019 African Nations Cup
• Former Mozambican finmin challenges detention in South Africa
• Congo miner SMB leaves ITSCI responsible-sourcing scheme over cost
• Private equity firms AfricInvest, Catalyst invest in Kenya’s Prime Bank
• US military says it kills 6 militants in an air strike in Somalia
• South Africa’s net reserves rise to $43.09 bln in December

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