By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Virus fears push Asian stocks to 7-wk low, boost safe-haven assets
- Virus death toll rises, WHO to reconsider declaring emergency
- Stocks extend falls, safe-haven assets sought
- Fed inflation comments send US bond yields to 3-mth low
Oil Markets
- Oil falls as virus death toll climbs, US stocks grow
- Brent down 0.6% at $59.46 a barrel (0225GMT)
- WTI down 0.6% at $53.03
Precious metals
- Gold edges up as Fed flags coronavirus concerns
- Spot gold up 0.1% at $1,578.05/oz. (0058GMT)
- US gold futures up 0.5% at $1,577.70/oz.
Grains
- Soybeans extend losses into eighth session on China demand worries
- Soybean futures down 0.1% at $8.92-1/4 a bushel (0115GMT)
- Corn futures up 0.1% at $3.84-3/4 a bushel
- Wheat futures down 0.1% at $5.61-1/2 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- WHO emergency meeting on increasingly global coronavirus
- US starts review of preferential trade agreement with South Africa et al.
- South Africa’s Ramaphosa cabinet retreat (‘lekgotla’); 29-30 Jan
- South Africa producer inflation Dec-19 [fcst. 3.4% yy, prev. 2.3%]
- South Africa M3 Dec-19 [fcst. 7.5% yy, prev. 7.4%]
- South Africa PSCE Dec-19 [fcst. 6.7% yy, prev. 6.6%]
- Zambia inflation Jan-20 [fcst. 12.0% yy, prev. 11.7%]
- Kenya inflation Jan-20 [fcst. 6.1% yy, prev. 5.8%]
- Uganda inflation Jan-20 [fcst. 3.8% yy, prev. 3.6%]
- Zimbabwe’s opposition leader Chamisa in South Africa
- Bank of Ghana MPC meeting; 27-31 Jan
Key African events or data releases yesterday & early a.m today
- Mali plans to increase the size of its army to rein in [militants]
- ‘Karoo firewalkers’: Dinosaurs braved South Africa’s land of lava
- Suspected […] militants kill at least 30 in Congo – local officials
- Moroccan banks respond to king’s call for cheaper SME loans
- Morocco ‘appreciates’ Mideast peace plan, says needs acceptance by parties
- Algerian energy minister: Very possible OPEC+ meeting may be advanced to February
- Witness backtracks on key statement in Nigeria oil graft case
- Africa Oil – Nigerian offer levels underpinned by Libya outage
- Climate change linked to African locust invasion
- France’s Macron accuses Turkey’s Erdogan of breaking Libya promises
- South Africa’s volatile rand weakens as investors weigh China virus damage
- Vodafone to sell stake in Egyptian unit to Saudi Telecom for $2.4 bln
- As threats rise, African scientists delve into climate change health impacts
- Air Tanzania postpones maiden flights to China over coronavirus
- Consortium of 3 companies to build Egypt’s first dry port – minister
- CI Capital hopes to bring 4 companies to Egypt stock exchange in 2020
- Storm-hit Zimbabweans endure another rainy season in risky homes
- Sudan suspects two infections with the new coronavirus – minister
- Elderly black women in South Africa win property rights in landmark ruling
- Zimbabwe public workers accept 140% pay hike, seek more
- Tunisia asks supplier to avoid French wheat due to port strikes
- South Africa’s Tongaat expects smaller interim loss
- South African auctioneer arrested for selling animals from area hit by foot and mouth
- Uganda shilling weakens a touch on uptick in importer demand
- Africa-focused Tullow largest investor builds stake
- Hunger, fear and death: an Ethiopian migrant family’s story
- Kenya shilling firm against end month dollar demand
- South Africa’s Tiger Brands CEO to retire, CFO to take helm
- Vodafone expects deal to sell its Egypt unit to Saudi firm by end of June
- South Africa’s rand steady as investors assess virus fallouts
- Saudi Telecom signs non-binding deal to buy Vodafone stake in Egypt unit for $2.4 bln
N.B. Full stories of above headlines are available on Reuters