By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asia stocks reach 5-wk high, yuan makes weekly gains
• Powell says Fed can be patient as US economy evolves in 2019
• China’s top trade negotiator to visit US in January
• Yuan hits 5-mth high, to make biggest weekly gain since 2005
• Trump threatens to use emergency power to fund Mexico wall

Oil Markets

• Oil slips on economic worries, but still set for strong weekly gain
• Oil prices supported by OPEC-led supply cuts
• But surging US production could undermine OPEC efforts
• Brent crude futures down 0.2 pct at $61.55 per barrel (0333GMT)
• US WTI crude futures down 0.1 pct at $52.52 per barrel

Precious metals

• Gold prices inch up as dollar softens on Fed rate outlook
• Spot gold up 0.2 pct at $1,288.83 per ounce (0117GMT)
• US gold futures up 0.2 pct at $1,289.40 per ounce

Grains

• Soybeans edge higher, set for first weekly fall in three weeks
• Most active CBOT wheat futures up about 0.1 pct at $5.14 per bushel (0202GMT)
• Most active corn futures up 0.3 pct at $3.77-1/4 per bushel
• Most active soy futures up 0.3 pct at $9.09-1/4 per bushel
• Most active rice futures unchanged at $10.85 per hundredweight

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

• Top officials of South Africa’s ruling ANC on the road across country for 107^th anniversary activities

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

• In Cairo, Pompeo blasts Obama’s Middle East policies
• South Africa’s Steinhoff says creditor challenges debt restructuring
• Sudan forces fire tear gas to break up Omdurman protests
• Congo’s president-elect steps out of father’s shadow but doubts persist
• EU wheat at 1-wk low as Egypt tender leaves export hangover
• Company led by ex-MTN Nigeria CEO Wood exits 9mobile
• Africa Crude – Chinese demand for Angola heats up; Europeans seek Nigerian
• Miss Algeria trolled for skin colour after winning title
• Ethiopia charges ex-head of military firm METEC with corruption
• Zimbabwe unions reject 10 pct pay rise offer
• Egypt’s urban inflation drops to 12 pct as food prices fall
• Egypt’s current account deficit narrows in July-Sept quarter – cbank
• Egypt’s core inflation increases to 8.3 pct y/y in December – cbank
• Ivory Coast cocoa grind up 9 pct through December – exporter stats
• South Africa’s Woolworths pulls baby carriers after copying scandal
• Congo Catholic church disputes presidential election outcome
• South Africa calls for restraint over DRC election result
• Tanzania fines Acacia Mining for breaching environmental regulations
• South Africa’s manufacturing output rises 1.6 pct y/y in November
• Ex-Mozambique finimin court case postponed – legal team
• Ugandan shilling unchanged as demand from banks ebbs
• South African business confidence index falls in December
• Kenyan shilling firm amid high liquidity
• Belgium to raise doubts about Congo vote result at UN
• Zimbabwe doctors end strike without deal as unions meet govt
• Congo presidential loser’s supporters cry foul after surprise result
• Kabila advisor accepts election defeat; says democracy triumphed
• Sibyanye-Stillwater expects gold output to miss forecast amid wage strike
• French foreign minister questions Congo election result
• Egypt non-oil private sector activity shrinks in December, but at slowing rate

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