By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Gold, oil jump in Asia as US & Iran trade threats
• Nikkei skids as Japan returns from holiday
• Oil supply jump on fears of supply disruptions; Brent > $70
• Safe-haven yen, bonds & gold all in demand

Oil Markets

• Oil extends gains on rising Mideast tensions
• Brent up 2.4% at $70.27 a barrel (0222GMT)
• WTI up 2.1% at $64.39

Precious metals

• Gold jumps to near 7-yr high as Mideast tensions spur safe-haven appetite
• Spot gold up 1.4% at $1,573.14/oz. (0124GMT)
• US gold futures up 1.6% at $1,577.80/oz.

Grains

• Soybeans inch higher on bargain hunting; US export pace caps gains
• Soybean futures up 0.1% at $9.42-1/4 a bushel (0222GMT)
• Corn futures up 0.1% at $3.87 a bushel
• Wheat futures down 0.2% at $5.53-1/2 a bushel

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

• South Africa’s ruling ANC pre-Jan.8 statement media briefing
• Liberia anti-government protests
• Nigeria Stanbic IBTC PMI Dec-19 [prev. 57.7]
• South Africa Standard Bank PMI Dec-19 [prev. 48.6]
• South Africa ABSA manufacturing PMI Dec-19 [prev. 47.7]
• Ghana’s Constitution Day tomorrow; public holiday (7 Jan)

Key African events or data releases over the weekend & early a.m today

• 3 Americans killed in militant attack on base in Kenya
• Nigerian police on heightened alert after US killing of Iranian commander
• Turkish military units moving to Libya, Erdogan says
• South Africa’s Eskom to end power cuts late on Sunday
• Angola & Congo tell dos Santos to cooperate with justice after asset freeze
• Turkey, Libya may contract international firms to search for hydrocarbons in eastern Med
• Egypt’s net foreign reserves rise to $45.42 bln in December – c.bank
• At least 30 killed in Libya military academy attack
• Saudi Arabia condemns Turkish escalation in Libya – statement
• South Africa’s Eskom resumes power cuts after Medupi fault
• 14 killed in bomb attack on bus convoy in Burkina Faso
• Kenya says starts spraying of locusts seen as threat to food security
• Egypt reopens 2 Mediterranean ports which were shut due to bad weather
• Egypt arrests tax authority chief on charges of receiving bribes
• Flights suspended in Libya’s capital as violence intensifies
• Violence in Sudan’s West Darfur left 65 dead, peacekeepers say
• Africa Oil – Scarce buyer interest as Angolan cargoes linger
• Losing Guinea-Bissau presidential candidate contests results in court
• Somali govt detains record number of journalists
• Egypt appeals against escalation in Iraq following US strike – statement
• Ugandan shilling weakens as banks exert demand
• Flights suspended in Libya’s capital due to rocket fire – official
• South Africa’s rand slips to 2-wk low as Middle East tensions sour risk demand

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