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)
- 177th 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
