By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

• Asia shares fight for footing after turbulent week
• Nikkei bounces 1.3%, still down for week
• China Jan PMI at 50 as expected, services stronger
• WHO confident China steps will contain virus
• Amazon surges 11% as sales beat expectations

Oil Markets

• Oil jumps as WHO declares emergency but recommends no travel, trade restrictions
• Brent up 90 cents at $59.19 a barrel (0243GMT)
• WTI up $1.03 at $53.17

Precious metals

• Spot gold only a shade firmer for the week at $1,572.11/oz.
• Failed to get much of a safe-haven bid [on China virus fears]
• Spot gold up 0.5% at $1,583.93/oz. (1902GMT; 30 Jan)
• US gold futures settles 0.8% higher at $1,583.50/oz. (30 Jan)

Grains

• Soybeans rise for first time in 9 sessions, set to close week 2% lower
• Soybeans remain under pressure as coronavirus fears mount
• Corn firms, set to finish week down more than 1.5%
• Wheat heads for first weekly decline in a month
• Soybean futures up 0.6% at $8.81-1/2 a bushel (0322GMT)
• Wheat futures little changed at $5.60-1/4 a bushel
• Corn futures up 0.3% at $3.80-3/4 a bushel

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

• Bank of Ghana MPC decision & press briefing [fcst. 15.0%, prev. 16.0%]
• US review of preferential trade agreement with South Africa et al.
• Swearing-in of new Kenya’s Kiambu county governor Nyoro
• Kenya inflation Jan-20 [fcst. 6.1% yy, prev. 5.8%]
• Uganda inflation Jan-20 [fcst. 3.8% yy, prev. 3.6%]
• Nigeria FX reserves Jan-20 [prev. $38.68B]
• Nigeria manufacturing PMI Jan-20 [prev. 60.8]
• South Africa trade balance Dec-19 [prev. ZAR6.1B]
• Brexit day; crucial Trump impeachment trial vote also

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

• Taiwan’s CPC buys African, US crude for April – sources
• Joint venture between Libya’s National Oil Corp and Italy’s Eni losing 155,000 bpd of oil due to blockade – NOC
• Trump’s Mideast plan is ‘injustice of the century’, US-allied Tunisian president says
• Morocco’s RAM airline suspends flights to China amid coronavirus – state news agency
• US will not completely withdraw forces from Africa – Pentagon chief
• Malawi central bank keeps benchmark rate flat, raises GDP forecast
• Cheap as bread, girls sell sex to survive crisis in Africa
• Ethiopia passes new investment law in bid to reform economy
• Senegal turns to eco-farming to protect food supply as climate change
• Liberia running low on gasoline after reserves go missing
• Ethiopian airlines denies suspending flights to China amid coronavirus
• EU wheat off 3-week low as sale to Egypt lends some support
• Africa Oil – Middle distillate margins weigh amid coronavirus jitters
• UN shuts refugee centre in Libya’s capital as truce crumbles
• Burundi court jails four journalists for harming state security
• Tanzania says may switch off 15 mln SIM cards in biometric registration
• South Africa’s rand falls, stocks lifted by Massmart bounce
• African economic growth to accelerate to around 4% over next 2 years – AfDB
• IMF says South Africa’s economic growth weakened by bailouts
• Egypt’s M2 money supply up 13.28% y/y in December – c.bank
• Egyptair to suspend mainland China flights over coronavirus
• Algeria captures man planning suicide attack – defence ministry
• Egypt preparing special flight to evacuate citizens from China’s Wuhan
• Algerian protests blunted without a shot fired in anger
• Nigeria court issues warrant for former oil minister in OPL 245 case
• South Africa’s resumes power blackouts as emergency capacity dwindles
• MTN South Africa bets on mobile money relaunch to reach millions without bank accounts
• South Africa’s Wescoal to break ground at new coal mine in February – CEO
• Gulf bourses mixed; Telecom Egypt continues rally
• South Africa’s struggling carrier SAA to cut flights to ease cash flow
• College burnt in militant attack in northern Mozambique
• Telecoms firm MTN to invest $1.6 bln in Nigeria – statement
• Nigeria tells travellers to avoid China because of virus
• MTN Uganda says forcing foreign telcos to list locally may not boost Ugandan ownership
• Vodafone stake sale needs Egyptian regulatory approval
• Tech heaven: Drone academy students help map out Africa’s future
• Kenyan logistics platform Sendy raises $20 mln for expansion
• Telecom Egypt’s shares open up 10% following Saudi Telecom bid for Vodafone Egypt
• Kenya shilling strengthens against the dollar
• South Africa’s Massmart forecasts annual loss, to reorganise business
• South Africa’s rand weakens as China virus knocks risk appetite
• South Africa’s credit growth in Dec slows to 6.14% y/y

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