By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asia shares rally to 4-1/2-mth peak on hopes of US-China trade deal
• Ex-Japan Asia MSCI up 1 pct to highest since early Oct
• Investors expect US, China to reach trade deal next month
• Minutes of Fed’s Jan 29-30 policy meeting in focus

Oil Markets

• Oil near 2019 highs amid OPEC cuts, US sanctions
• US sanctions on Iran, Venezuela tighten markets
• But soaring US shale output offsets some of the disruption
• Economic slowdown to weigh on oil prices by Q4 – BNP Paribas
• Brent up 0.2 pct at $66.58 per barrel (0300GMT)
• WTI up 0.5 pct at $56.39 per barrel

Precious metals

• Gold prices hold at 10-mth highs; markets await Fed minutes
• Spot gold marginally lower at $1,339.61 per ounce (0021GMT)
• US gold futures down 0.2 pct at $1,342.6 an ounce

Grains

• Wheat rises after dropping to 4-mth low, soybean prices firm
• Most active CBOT wheat futures up 0.3 pct at $4.91-1/4 per bushel (0134GMT)
• Most active corn futures up 0.5 pct at $3.71-3/4 per bushel
• Most active soy futures up 0.1 pct at $9.01-3/4 per bushel
• Most active rice futures up 0.2 pct at $10.01 per hundredweight

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

• South Africa 2019 budget to be presented by finmin Mboweni today
• South Africa inflation data for Jan-19 expected [fcst. 4.5% yy, prev. 4.5%]
• Reserve Bank of Zimbabwe to announce MPC decision(s) today
• 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]

• Libya’s NOC to assess security at El Sharara before resuming production
• Death toll from northwest Nigeria attack doubles to 130
• Eastern Libya forces hand El Sharara oilfield to oil guards
• Tunisia central bank raises key rate to 7.75 pct from 6.75 pct to curb inflation
• Zimbabwe to run out of bread in 1 week as flour stocks dwindle – millers
• Chinese “Ivory Queen” smuggler sentenced to 15 years jail in Tanzania
• Africa Crude – Nigeria March overhang persists as April programmes awaited
• South Africa’s rand tepid ahead of annual budget speech
• MTN faces more problems in Uganda as authorities query its sales figures
• Delta Sugar looks to raise output as Egypt pushes sugar beet
• South Africa parliament approves long-delayed carbon tax bill
• Glencore to cut output, jobs at copper, cobalt mine in Congo – WSJ
• UN says fighting, instability have displaced 100,000 in Burkina Faso
• South Africa need to invest to rebuild confidence in power sector – minister
• South Africa’s AngloGold looks to streamline assets, Argentine mine up for sale
• South Africa updated long-term energy plan to be ready in March – minister
• ‘Basic needs before infrastructure’: fashioning a fairer Senegal
• Egypt security forces kill 16 suspected militants – state media
• South Africa govt meeting fails to break Eskom split impasse – COSATU
• Union Fenosa says guarantees not sufficient to restart Egypt LNG plant
• South Africa defence group Denel to seek investment partners: CEO
• Egypt begins receiving offers for dollar bond sale – finmin
• South Africa’s AMCU calls on Sibanye platinum workers to join strike
• Kenya says crude oil capacity insufficient for refinery
• South Africa needs to invest, build confidence in power generation – Radebe
• South Africa’s Kumba Iron Ore 2018 headline earnings edge lower
• South Africa AngloGold Ashanti posts highe full-year earnings

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