By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asia stocks bounce, oil slips as Iran anxiety ebbs
• Nikkei rallies 1.3% as Mideast risks reconsidered
• Oil retreats on doubts Iran would disrupt supplies
• Safe havens pull back with yen and gold easing

Oil Markets

• Oil dips as markets await Iran response to US killing of military commander
• Iran more likely to focus on US military targets – Eurasia
• Dec OPEC output falls by 50,000 bpd – survey
• US crude stocks likely to drop 4^th week in a row – poll
• Brent down 44 cents at $68.47 a barrel (0200GMT)
• WTI down 41 cents at $62.86

Precious metals

• Gold slips from near 7-yr high as US-Iran tensions ease
• Spot gold down 0.2% at $1,562.81/oz. (0107GMT)
• US gold futures down 0.2% at $1,566/oz.

Grains

• Soybeans gain for 2^nd day on hopes of higher Chinese demand
• Soybean futures up 0.2% at $9.46-1/4 a bushel (0138GMT)
• Corn futures little changed at $3.85 a bushel
• Wheat futures little changed at $5.50-1/4 a bushel

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

• Ghana’s Constitution Day; public holiday
• Kenya’s controversial lawyer Miguna expected back in Nairobi; after court orders govt to allow his entry
• South Africa’s 2019 national senior certificate (“matric”) results to be announced

Key African events or data releases yesterday & early a.m today

• Ivory Coast president plans constitutional revision before election
• Russia’s VTB sues Mozambique state firm at centre of $2 bln debt scandal
• 30 killed in northeast Nigeria bombl blast on crowded bridge
• Kenya arrests 3 men for trying to breach British army camp
• UN Libya envoy blames deadly military academy strike on Haftar ally
• Libyan commander Haftar’s forces say they have taken Sirte
• US bolsters Kenya base security after Americans killed in attack
• UN special representative for Libya to other countries: ‘Keep out’
• Somalian parliament approves new petroleum law – minister
• Zimbabe vice president’s wife freed on bail after attempted murder charge
• Africa Oil – Angolan cargoes linger as demand remains slack
• South Africa’s rand edges up after slump on Iran-US tensions
• Tanzania’s gold export earnings up 42% in year to November – central bank
• Egypt shuts 2 Mediterranean ports because of bad weather
• OPEC December oil output slips as Nigeria, Iraq comply more
• Ugandan shilling weakens due to increased dollar demand from banks
• Egypt sells $865 mln in 1-yr t-bills at average yield of 3.54%
• Uganda police disperse Bobi Wine supporters with tear gas
• South Africa power shake-up looms as ailing Eskom welcomes new CEO
• Ghana’s 2019/20 cocoa arrivals reach 456,000 T by Dec. 19 – Cocobod
• Ivory Coast 2019/20 cocoa arrivals 1,153,000 T by Jan. 5 – exporters’ estimates
• Kenya plans to refinance or exchange commercial debt with cheaper options
• Years of drought threaten South Africa’s wildlife industry
• Zimbabwe’s CBZ bank issues bonds under scheme to raise funds for maize, soy farming
• Ailing Eskom’s new CEO takes helm with power shake-up on agenda
• Kenyan shilling holds steady against the dollar
• Kenya police arrest 3 for trying to breach British army camp
• Kenya private sector activity up slightly in December – PMI
• South Africa’s Absa appoints former central bank deputy governor as CEO
• South African private sector shrinks for 8^th straight month in Dec – PMI
• South Africa’s rand weakens as power cuts resume, Mideast tensions escalate
• Contraction in Egypt’s non-oil private sector activity slows slightly – PMI

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