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

Global Markets

• Asian shares nudge up as virus spread slows, euro fragile
• Sentiment remains fragile due to worries about virus
• 3-mo/10-yr treasury yield curve inverts
• Weak German data pummels euro

Oil Markets

• Oil inches higher, but gains capped by widening economic impact of coronavirus outbreak
• Brent up 6 cents at $57.81 a barrel (0149GMT)
• WTI up 7 cents at $51.97

Precious metals

• Gold eases as drop in virus cases lifts risk appetite
• Spot gold down 0.1% at $1,600.67/oz. (0037GMT)
• US gold futures unchanged at $1,603.60/oz.

Grains

• Wheat retreats from 3-wk high as traders book profits
• Wheat futures down 0.4% at $5.64-1/4 a bushel (0149GMT)
• Soybean futures up 0.1% at $8.93-1/2 a bushel
• Corn futures down 0.3% at $3.82 a bushel

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

• Bank of Namibia interest rate decision [fcst. 6.25%, prev. 6.5%]
• South Africa inflation Jan-20 [fcst. 4.4% yy, prev. 4.0%]
• Bank of Zambia post-MPC press briefing [fcst. 11.5%, prev. 11.5%]
• Global off-grid solar forum & expo 2020 in Nairobi; 18-20 Feb
• South Africa’s parliament debate Ramaphosa State of the Nation Address; 18-19 Feb
• South Africa state capture inquiry continues

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

• Libya oil production at 123,537 bpd as of Feb. 18 – NOC statement
• Libya’s internationally recognized govt suspends ceasefire talks in Geneva
• Eastern Libyan forces strike Tripoli port in new escalation
• Libya’s NOC evacuates fuel vessels from Tripoli port, halts offloading after forces strike
• Zimbabwe threatens to withdraw mining licences over unpaid fees
• Locusts swarm into South Sudan as plague spreads
• IMF cuts Nigeria’s growth forecast on lower oil price outlook
• Africa Oil – Angolan programme emerges
• US to offer financial support for Ethiopia political reforms – PM
• South Africa’s rand ticks lower as Moody’s stokes downgrade fears
• South Africa’s statistics agency faces funding crisis
• Vessels at port of Libyan capital evacuated after attack – official
• UN Libya envoy says Tripoli port was attacked on Tuesday
• Uganda shilling weakens a touch on uptick in interbank demand
• South Africa’s Eskom needs cash injection to avoid debt crisis – CEO
• Emerging markets need policy mix, not just flexible FX, IMF chief says
• US secretary of state meets Ethiopia’s reformist prime minister
• Kenya sets belt-tightening target for 2021 financial year
• EU adds Seychelles, Cayman Islands, Panama to tax haven blacklist, spares Turkey
• Lesotho leader’s wife murder trial to start next month – court
• Nigeria annual inflation hits near 2-yr high in January; rises to 12.13%
• Kenya shilling weakens against the dollar
• South Africa’s Kumba Iron annual earnings rise on higher ore rates

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