By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asian stocks retreat from 8-mth high as Trump opens new trade war front
• Trump threatens tariffs on EU over long-simmering aircraft row
• IMF cuts global economic outlook, weighs on sentiment
• Crude oil prices near 5-mth high

Oil Markets

• Oil rises amid OPEC supply cuts, US sanctions
• Brent up 0.3 pct at $70.83 per barrel (0056GMT)
• WTI up 0.3 pct at $64.26 per barrel

Precious metals

• Gold trades near 2-wk high on US-EU trade tensions
• Spot gold down 0.1 pct at $1,303.14 per ounce (0110GMT)
• US gold futures down 0.1 pct at $1,307.60 an ounce

Grains

• Wheat eases for 5^th session on supply pressure
• Most active CBOT wheat futures down 0.3 pct at $4.58-1/4 per bushel (0108GMT)
• Most active corn futures up 0.2 pct at $3.60-3/4 per bushel
• Most active soy futures up about 0.1 pct at $8.99-1/4 per bushel
• Most active rice futures unchanged at $10.29 per hundredweight

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

• Bank of Namibia MPC decision [fcst. 6.75%, prev. 6.75%]
• Kenya’s Kenyatta in Mauritius for 4-day state visit
• South Africa PIC inquiry continues; Holomisa to be cross-examined
• South Africa’s EFF Malema press conference
• South Africa’s Ramaphosa officiates Nissan expansion announcement ceremony
• South Africa SACCI business confidence for Mar-19 [act. 91.8, prev. 93.4]

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

• Kenya shilling gains ground, helped by remittances
• Nissan South Africa to invest $213 mln to build new Navara model
• Refugees in Egypt struggle to live as economic hardships deepen
• South Africa rand retreats slightly from near 6-wk best
• Egypt’s annual urban consumer price inflation eases to 14.2 pct in March – capmas
• Trump praises Egypt’s Sisi despite concerns about human rights, Russian arms
• Algeria interim president promises free elections
• Algeria authorities expel AFP bureau chief, news agency says
• Zimbabwe seeks $613 mln aid from donors after drought, cyclone
• Suffering grows from Libya conflict, migrants moved
• Sudan opposition says around 20 killed since sit-in began
• Africa Crude – Nigerian crude nearly clear for April, Angolan for May
• Libya’s NOC discusses with oil firms security at oil facilities – statement
• Congo ebola outbreak ‘far from contained’, US aid chief says
• UN says to hold Libya’s national conference as soon as possible
• Nigeria parliament recommends tax rise on luxury goods
• Senior Sudan protest organiser calls for sit-in to continue
• Uganda makes arrests in kidnap of American tourist and her guide
• Sudan must deliver credible plan for transition – UK, US and Norway
• UN Libya mission stays in Libya but reduces staffing levels
• Carrefour Kenya targets number 2 retail banking this year, franchisee says
• IMF trims South Africa’s economic growth forecast to 1.2 pct
• Sudan police told not to confront peaceful gatherings – spokesman
• Nigeria’s twin town ponders cause of multiple births
• Tunisia’s trade deficit rises to $1.33 bln in first quarter
• Congo president turned down predecessor’s PM pick – sources
• Uganda shilling steady, to ease due to dollar demand from energy firms
• Algeria’s parliament appoints Abdelkader Bensalah as interim president – witness
• South Africa’s carbon tax could cost Amplats $21 mln a year from 2021 – CEO
• Kenya shilling weakens on demand from energy sector
• Drought will drag down Kenya’s 2019 economic growth, World Bank says
• Malawi 2018/19 maize output up 24 pct, minimal effect from cyclone Idai – minister
• Kenya central bank says to hold rate-setting meeting on May 27

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