By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Stocks tread water ahead of signing of initial US-China trade deal
- US-China Phase 1 trade deal to be signed later (1630GMT) on Weds [@macroafrica: Market neutral to negative event with tariffs still in place]
- Tariffs to stay until there is Phase 2 agreement: Mnuchin
- Wall St stocks flat; Yields inch lower; FX subdued except yuan
Oil Markets
- Oil prices slip on concerns US-China trade deal may not boost demand
- US output to rise in 2020 more than previously expected – EIA
- Brent down 0.3% at $64.28 per barrel (0206GMT)
- WTI down 0.4% at $58.00
Precious metals
- Gold inches up as US says China tariffs in place till Phase 2 deal
- Spot gold up 0.1% at $1,547.23/oz. (0117GMT)
- US gold futures up 0.2% at $1,547.80/oz.
Grains
- Wheat up for 2nd session, trades near 1-1/2 year high
- Wheat futures up 0.3% at $5.70 per bushel (0156GMT)
- Corn futures unchanged at $3.89 per bushel
- Soy futures up about 0.1% at $9.42-3/4 per bushel
- Rice futures up 0.1% at $13.37 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji, @macroafrica]
- Mozambique’s Nyusi inauguration; South Africa’s Ramaphosa attending
- Nigeria’s armed forces remembrance day; Buhari to preside over official event
- South Africa retail sales Nov-19 [fcst. -0.2% yy, prev. 0.3%]
- South Africa central bank MPC meets on interest rates (14-16 Jan)
- Egypt, Ethiopia & Sudan meet over Nile dam in Washington DC; 15 Jan deadline for agreement
- South Africa state capture inquiry continues
Key African events or data releases yesterday & early a.m today
- Sudan’s airspace is open, sovereign council chief says
- Natural gas pumping from Israel to Egypt to start on Wednesday – statement
- Sudan quells revolt of former spy service men after clashes
- Sudan govt forces retake all intelligence buildings in capital – military source
- World Court to rule on emergency measures in Myanmar genocide case on Jan. 23 – Gambia
- Africa Oil – Nigerian offered in window, Angolan programme expected
- South Africa will embrace private power generation, Ramaphosa says
- South Africa rand slips as Woolworths, Old Mutual lead stocks higher
- Kenya’s president reshuffles cabinet amid rift with deputy president
- Turkey won’t shun “teaching a lesson” to Libyan commander Haftar if attacks continue
- Germany invited Libya’s Serraj, Haftar to conference
- Russia: Libya’s Haftar is taking 2 days to discuss ceasefire deal – Ifax
- Reprieve for South Africa’s Old Mutual as court rules against fired CEO
- Gunfire head in Sudanese capital – witness
- South Africa’s Woolworths appoints Roy Bagattini CEO
- Morocco 2020 economic growth seen rising to 3.5%
- Kenya’s president reshuffles cabinet, confirms Yatani as finance minister
- Turkey says ready to act against Haftar if Libya attacks continue
- Kenyan shilling firms against the dollar
- South African consumer confidence remains near 2-yr low – survey
- South African court upholds Old Mutal appeal against reinstatement of ex-CEO
- Kenya’s president urges the central bank to prevent predatory lending
- Libya’s Haftar leaves Moscow without signing ceasefire – TASS
- Eastern Libyan forces says ready and determined to achieve victory – website
N.B. Full stories of above headlines are available on Reuters
