By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Stocks tumble, gold & crude soar after Iran strike on US forces
- MSCI Asia ex-Japan falls 1%
- Iran launches missile attacks on Iraqi bases housing US forces [Iran signals retaliatory measures largely symbolic; Trump reply suggest likely relatively muted reaction from US]
- Crude futures, gold soar amid fears of further escalation
- US treasury yields fall amid flight to safety
Oil Markets
- Oil jumps as Iran rocket strike on US forces jolts markets
- Brent touches 4-mth high before investor tensions ease
- Brent jumps 2.3% (0207GMT); WTI up 2%
- Iran strike stokes fears of wider conflict, supply disruption
- ‘It’s getting really serious’ – analyst
- Brent up 2.3% at $69.83 (0207GMT); earlier rose to $71.75
- WTI up 2% at $63.95
Precious metals
- Gold soars past $1,600/oz. after Iran attack on US forces
- Spot gold up 1.9% at $1,603.21/oz. (0056GMT)
- US gold futures up 2% at $1,605.80/oz.
Grains
- Soybeans fall on Middle East conflict fears
- Soybean futures down 0.4% at $9.40-1/4 a bushel (0147GMT)
- Corn futures down 0.5% at $3.82-3/4 a bushel
- Wheat futures down 0.7% at $5.46-1/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- Kenya’s Miguna finally expected in Nairobi; after much drama in Frankfurt
- South Africa’s Ramaphosa in Northern Cape for ANC Pre-Jan. 8 mass mobilization drive
- South Africa foreign exchange reserves Dec-19 [prev. $54.893B]
- South Africa ABSA manufacturing PMI Dec-19 [prev. 47.7]
- Guinea-Bissau awaits court ruling on presidential election challenge
Key African events or data releases yesterday & early a.m today
- Morocco to spend $12 bln to secure water supply over next 7 years
- South Africa’s Desmond Tutu & Al Gore urge end to fossil fuels
- Ethiopia GDP forecast to grow 10.8% in 2019/20 – c.bank
- European powers condemn Turkish plans to send troops to Libya
- 4 Kenyan school children killed in al Shabaab attack on telecom mast
- South Africa’s struggling Eskom to cut power overnight
- Africa Oil – Angolan selling but supply remains ample
- South African rand firms as demand for riskier currencies returns
- EU’s Borrell rejects Turkish plans to send military to Libya
- Italy’s Di Maio says Europe must do more to help stabilise Libya
- Kenyan retailer Nakumatt to close as creditors back liquidation
- Russia’s VTB sues Mozambique over loan in $2 bln debt scandal
- Egyptair suspends flights to Baghdad for 3 days – statement
- Tripoli-aligned forces say they quit Libya’s Sirte to avoid bloodshed
- Kenyan shilling weakens due to importer demand for dollars
- EU, Italy, UK, France, Germany to discuss Libya in Brussels on Tuesday
- Creditors of Kenyan retailer Nakumatt vote to unwind the chain – administrator
- Muted importer demand for dollars supports Ugandan shilling
- Chalco ships first cargo from Guinea bauxite project
N.B. Full stories of above headlines are available on Reuters
