By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Growth woes, trade tension douse rally in Asian shares
• MSCI ex-Japan falters from near 8-mth highs led by China
• Dollar eases for a fourth straight day after weak CPI, Fed minutes
• Sterling firmer after Europe extends Brexit deadline

Oil Markets

• Oil prices slip on economic worries, surging US crude supply
• US crude inventories rise to highest since Nov 2017 – EIA
• US crude output remains at record 12.2 mbpd
• Global markets remain tight amid OPEC cuts, US sanctions
• Brent down 0.3 pct at $71.52 per barrel (0642GMT)
• WTI down 0.4 pct at $64.34 per barrel

Precious metals

• Gold holds near 2-wk high on dovish central banks
• Gold should see support toward $1,300-$1,305/oz level – MKS
• Spot gold down 0.2 pct at $1,304.99 per ounce (0733GMT)
• US gold futures down 0.4 pct at $1,309.30 an ounce

Grains

• Corn prices supported by US planting delays; wheat rebounds
• Most active CBOT wheat futures up 0.6 pct at $4.60-1/2 per bushel (0708GMT)
• Most active corn futures unchanged at $3.61-3/4 per bushel
• Most active soy futures up about 0.1 pct at $9.02-1/2 per bushel
• Most active rice futures up about 0.1 pct at $10.24 per hundredweight

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

• South Africa manufacturing production data for Feb-19 [fcst. 1.1% yy, prev. 0.3%]
• South Africa mining production data for Feb-19 [fcst. -3.1% yy, prev. -3.3%]
• South Africa state capture inquiry resumes
• South Africa’s Ramaphosa on campaign trail in Alexandra, Johannesburg
• Kenya’s Kenyatta in Mauritius

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

• Nigeria military forced a town of 10,000 people to relocate for security operation, UN says
• Govt sources, provincial minister say Sudan’s Bashir stepped down
• Sudan military expected to announce end to Bashir rule – sources
• Tens of thousands march through Sudan capital Khartoum
• Kenya shilling weakens due to importer demand, excess liquidity
• Military deploys in Sudan’s capital, anti-Bashir protest grows – Reuters witness
• How mass rape in genocide transformed Rwanda’s response to AIDS
• Libya – Thousands flee Tripoli homes as battle rages on outskirts
• France blocks EU call to stop Haftar’s offensive in Libya
• Hundreds of Morocco teachers protest for job security
• 11 killed in Sudan protests including six ‘state forces’ – govt spokesman
• Nigeria plans special economic zones to double manufacturing by 2025
• Algeria to hold July 4 presidential election after mass protests
• Egypt blocks campaign site opposing constitutional changes – monitor
• Africa Crude – India’s IOC mops up some slow-selling cargoes
• Ivory Coast 2018 gold output falls 3.5 pct due to strikes
• Egypt’s annual headline inflation eases slightly to 14.2 pct in March
• WHO experts to decide whether Congo ebola outbreak is international emergency
• Zimbabwe mulls ‘use it or lose it’ approach to mining rights
• Algeria army chief says judiciary will reopen Sonatrach investigation – state tv
• Egypt’s core inflation falls to 8.9 pct y/y in March – cbank
• Algeria army chief says judiciary to start prosecuting “the gang” – Ennahar TV
• Algeria army chief says will support transitional period – Ennahar
• EU parliament head says Europe divided over Libya
• Algeria interior ministry allows 10 new political parties – Ennahar TV
• Uganda shilling weakens on surge in importer and banks’ demand
• Absa sees Nigeria expansion plan ready for second half
• South Africa business confidence drops to 7-mth low in March
• France expresses regret over expulsion of AFP’s Algeria bureau chief
• Nearly 2,000 Zambia villagers can sue Vedanta in England – Supreme Court
• South Africa reports farm outbreak of African swine fever – OIE
• Uganda seizes 8 suspects over American tourtist’s kidnap
• 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

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