By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asia stocks scale 4-mth peak as Fed turns more cautious; dollar sags
- Stocks lifted as Fed signals potential end to rate hike cycle
- Prospect of rate hikes ending weighs on dollar and bond yields
Oil Markets
- Oil rises as Saudi Arabia cuts supply to US
- Venezuela struggles to keep up exports
- But US crude oil stocks still rise at record 11.9 mln bpd
- Brent up 1 pct at $62.24 per barrel (0445GMT)
- WTI up 0.7 pct at $54.63 per barrel
Precious metals
- Gold near 8-mth highs on Fed rate pause, eyes 4th monthly gain
- Spot gold steady at $1,319.87 per ounce (0042GMT)
- US gold futures up 0.7 pct at $1,319.30 per ounce
Grains
- Soybeans hold steady, set to finish the month up 3 pct
- Most active CBOT wheat futures up 0.3 pct at $5.18-1/4 per bushel (0127GMT)
- Most active corn futures down about 0.1 pct at $3.81 per bushel
- Most active soy futures nearly unchanged at $9.20-3/4 per bushel
- Most active rice futures down 0.1 pct at $10.62 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- South Africa producer inflation data for Dec-18 due [fcst. 6.5% yy, prev. 6.8%]
- South Africa trade balance data for Dec-18 expected [prev. ZAR3.49B)
- Nigeria foreign exchange reserves data for Jan-19 expected [prev. $43.23B]
- South Africa state capture inquiry continues
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- Nigeria opposition candidate to consider amnesty for corruption suspects
- Nigeria opposition candidate says he is willing to probe corruption in military
- Sudan opposition leader’s daughter detained as professors protest
- Sudan’s army says it will ‘not allow state to fall’ amid protests
- Algeria’s Sonatrach has held talks to buy oil trader Gunvor – Bloomberg
- Drought threatens thousands of flamingo chicks in South Africa
- Nigeria opposition candidate to create $25 bln fund for infrastructure
- Zimbabwe public workers divided over strike after talks fail
- Africa Crude – Sellers hold out as buyers face strong Nigerian diffs
- South Africa deputy finance minister denies corruption allegations
- Egypt’s GDP grew 5.4 pct in first half of fiscal year, minister says
- 38 migrants confirmed dead off Djibouti after boats capsize
- Ethiopia charges former regional president, others of instigating ethnic violence
- Tanzania hunts child abductors over suspected witchcraft-linked killings
- South African franchise restaurant chain Spur lifts H1 sales
- Nigeria court rules suspended chief judge can be tried on conduct charges
- South Africa’s largest labour union plans nationwide strike over mass layoffs
- Bashir’s hometown split as anti-govt protests hit Sudan
- South African miners want restructuring of powe firm Eskom
- Kenya bourse aims to launch derivatives market in first half 2019
- Uganda shilling stronger on offshore investor and charity flows
- Sudan opposition leader’s daughter detained – family
- South Africa’s PIC says 3 board members implicated in new graft allegations
- Renewable power surge in Africa faces a shortout: not enough workers
- Kenyan shilling seen easing against the dollar
- Zimbabwe govt, unions in last-ditch talks to avert national strike
- Egypt to offer foreign currency bond this quarter, minister says
- South Africa’s Lewis Q3 sales gain on upbeat merchandise sales growth
- Tanzania MPs grant govt sweeping powers over political parties
- South Africa Dec credit demand growth slows to 5.1 pct m/m
N.B. Full stories of above headlines are available on Reuters
