By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asian stocks rally to record high ahead of trade deal; yen slips
• Imminent trade deal drives optimism
• World stocks hit record high, Nikkei hits month-high
• Yen drops to 7-mth low

Oil Markets

• Oil prices dip as Mideast tensions ease; market eyes trade deal
• US crude oil inventories likely fell last week – poll
• Brent down 0.1% at $64.12 a barrel (0124GMT)
• WTI down 0.1% at $58.04

Precious metals

• Gold falls ahead of US-China trade deal on improved risk appetite
• Spot gold down 0.7% at $1,537.67/oz. (0126GMT)
• US gold futures down 0.9% at $1,537.10/oz.

Grains

• Soybeans drop for 2^nd day; US-China trade deal eyed
• Wheat futures down 0.1% at $5.61-1/2 a bushel (0213GMT)
• Corn futures down about 0.1% at $3.89-1/4 a bushel
• Soy futures down 0.1% at $9.41 a bushel
• Rice futures unchanged at $13.23 per hundredweight

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

• 2^nd Business Unity South Africa Indaba; Ramaphosa attending
• South Africa state capture inquiry resumes
• Nigeria Supreme Court to decide 6 gubernatorial election appeals
• South Africa consumer confidence Q4-19 [prev. -7]
• 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’s Mabuza in South Sudan for consultations on peace agreement

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

• US confirms ‘avoidable’ death of Egyptian-American Kassem in custody
• Nigeria’s Lekoil halts London trading on finding loan was ‘complex façade’
• France, West Africa to unite forces in fight against militants
• Nigeria’s central bank reschedules monetary policy committee meeting to Jan.23-24
• France to send extra 220 troops to fight militants in Sahel – Macron
• Libya’s Haftar, Serraji did not meet officially during Moscow talks – Interfax
• South Africa’s mining industry calls for action to end power crisis
• Libya peace talks in Moscow fall short of ceasefire deal
• Nigeria seeks to boost revenue, support small firms with new finance law
• Africa Oil – India’s IOC issues two tenders, programmes awaited
• Egypt’s Suez Canal Economic Zone to set up investment arm
• South African rand soft ahead of data-packed week
• US Supreme Court rebuffs Sudan bid to limit damages over embassy bombings
• Ivory Coast pledges trafficking crackdown as 137 child victims are rescued
• Trump, Germany’s Merkel discussed security, Libya – White House
• Egypt’s central bank received no request from Bank Audi to sell Egyptian unit
• Egypt’s Beltone to sell stake in brokerage Auerback in 2020
• Niger sacks army chief after deadliest attacks in years
• Zimbabwe finance minister sticks to 3% growth forecast despite poor rains
• EU welcomes Libya ceasefire, says UN must lead reconciliation
• Kenya’s stock exchange sees boost from repeal of rate cap
• Angola holds off on chasing dos Santos’ assets abroad – prosecution
• MTN Nigeria rises 10% after $2 bln tax case withdrawn
• Ivory Coast 2019/20 cocoa arrivals reach 1.259 mln T by Jan. 12 – exporters
• Germany plans to hold Libya summit on Jan 19 – participants
• Ivory Coast cocoa arrivals reached 1.112 mln T by Dec. 31
• Angolan courts could take action to seize dos Santos’ assets abroad ‘if necessary’ – prosecution
• 3 teachers killed in suspected militant attack near Kenya’s Somalia border – police
• South Africa’s Massmart could cut 1,440 jobs
• Uganda shilling stronger on back of commodity flows

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