By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asian stocks inch up on trade outlook but markets remain wary
• Asian stocks head higher on trade hopes
• Mixed signals from Trump keep investors on their toes
• Oil eases slightly but OPEC meetings loom

Oil Markets

• Oil steadies after price jump; investors wait on OPEC meetings
• Brent down 0.2% at $62.90 a barrel (0112GMT)
• WTI down 0.4% at $58.21

Precious metals

• Gold steady as dollar weakens on dour US data
• Spot gold up 0.1% at $1,475.37/oz. (0100GMT)
• US gold futures up 0.1% at $1,481/oz.

Grains

• Soybeans extend gains on positive Sino-US trade signals
• Soybean futures up 0.1% at $8.78-3/4 a bushel (0112GMT)
• Corn futures little changed at $3.78-1/2 a bushel
• Wheat futures up 0.1% at $5.28-1/4 a bushel

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

• South Africa’s Ramaphosa on working visit to Ghana (5 Dec) & Togo (6 Dec)
• 177^th meeting of the OPEC conference in Vienna
• Nigeria’s 2020 budget passage by legislature expected; appropriations committee report submitted yesterday
• South Africa current account balance Q3-19 [fcst. -3.9% of GDP, prev. -4.0%]

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

• Up to 57 dead after migrant boat sinks off Mauritanian coast – UN agency
• South Africa’s struggling SAA to enter business rescue
• Euronext wheat subdued as Algeia tender results awaited
• US to exchange ambassadors with Sudan – state dept
• Africa Oil – Traders wait for flurry of tender results
• Macron conditions troop presence in Sahel on West African clarifications
• Algeria tries top figures for corruption as opposed election looms
• South African anti-apartheid campaigner Archbishop Tutu in hospital
• South Africa’s rand firmer as trade deal optimism eases growth shock
• Bolt expands South African operations to small towns
• Botswana retailer Choppies sells ailing South African operations for 1 rand
• Algeria to block sale of assets to Total – state media
• MTN to oppose South African regulator’s recommendations on data costs
• Endeavour bid for Centamin will boost mining interest in Egypt – minister
• Foreigners dump nearly $10 bln of South Africa assets in 2019
• Egypt to get $1.1 bln from ITFC to fund commodities imports
• Uganda shilling unchanged, commodity flows to lend support
• Kenyan shilling firms on tight liquidity, offshore investor flows

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