By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asia comforted as China data hint at recovery
• China GDP grows 6.4 pct, industrial output surges in March
• Nikkei edges up to highest since December
• NZ dollar, bond yields dive on soft inflation data

Oil Markets

• Oil prices rise for a 2^nd day on China demand, US stockpile drop
• Brent rises to $72.08/bbl; highest in 2019
• OPEC supply cuts, US sanctions support oil prices
• China’s March refinery throughput up 3.2 pct y/y
• US crude stocks drop by 3.1 mln bbls last week – API data
• Brent up 0.4 pct at $72.01/bbl (0657GMT)
• WTI up 0.7 pct at $64.49/bbl

Precious metals

• Gold near 4-mth low as China GDP fuels risk sentiment
• Gold has fallen by over 5 pct from Feb high
• SPDR gold holdings fall to near 6-mth lows
• Spot gold up 0.1 pct at $1,277.32 per ounce (0513GMT)
• US gold futures up 0.2 pct at $1,278.80 an ounce

Grains

• Wheat ticks up after losses, global production outlook cap gains
• Most active CBOT wheat futures up 0.1 pct at $4.45-1/2 per bushel (0015GMT)
• Most active corn futures down about 0.1 pct at $3.58-3/4 per bushel
• Most active soy futures unchanged at $8.88 per bushel
• Most active rice futures up 0.1 pct at $10.53 per hundredweight

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

• Ivanka Trump in Ivory Coast
• South Africa central bank to release monetary policy report
• South Africa retail sales data for Feb-19 [fcst. 1.3% yy, prev. 1.2%]
• South Africa inflation data for Mar-19 [act. 4.5% yy, fcst. 4.0%, prev. 4.1%]
• Namibia’s Geingob to deliver state of the nation address
• South Africa PIC inquiry continues
• South Africa state capture inquiry continues
• Zimbabwe’s Mnangagwa to tour Karo platinum exploration site in Mhondoro Ngezi
• South Africa’s Malema of the EFF on campaign trail in KZN
• South Africa’s Maimane of the DA on campaign trail in Northern Cape
• South Africa’s Ramaphosa of the ANC to officiate handover of primary schools in KZN
• 5^th session of the Africa regional forum on sustainable development in Marrakesh, Morocco; day 2
• Odinga’s AfroChampions infrastructure Boma meeting in Nairobi, Kenya; day 2
• Nigeria’s senate to debate police reform bill

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

• Sudan’s Bashir moved to Khartoum’s Kobar prison – family sources
• South Africa consumer inflation quickens to 4.5 pct in March
• South Africa’s Tiger Brands to fight listeria class action
• South Africa’s rand lifted by faster Chinese growth
• Kenya’s Nation Media Group 2018 pretax profit down 16.4 pct
• Terrorist presence on migrants boats from Libya now a certainty – Italy’s Salvini
• Ebola survivors comfort sick and frightened in Congo outbreak
• Sudan’s interim military council fires 3 top public prosecutors
• Shelling in Libya capital kills 2, wounds 8 – Tripoli official
• Washington will not remove Sudan from terror list while military rules – US official
• 150 missing after shipwreck in eastern Congo
• Egypt’s parliament backs measures that could extend Sisi’s term
• Algeria military considering all options to end crisis
• Egypt’s Sisi calls Sudan’s military leader to offer support
• Cholera cases rise in Kenya’s capital, top hospital says
• Kenya food, water scarcity will worsen as rains fall – Met dept
• Ebola is real, Congo president tells sceptical population
• UN Security Council considers demanding Libya ceasefire
• Tommy Hilfiger and Calvin Klein probe ‘labour abuses’ in Ethiopia factories
• Algeria’s Sonatrach says to hold talks with Chevron next week
• South Africa’s rand weaker after Moody’s report
• Kenya family files lawsuit against Boeing over Ethiopian Airlines crash
• Libya conflict stirs divisions in Gulf and Europe
• Russia recognises new authorities in Sudan – RIA agency
• Zimbabwe nearly doubles bread price as economic woes mount
• South Africa’s growing debt a concern – Moody’s
• Cholera cases rise in Kenya’s capital, top hospital says
• Zambia miner Lumwana says higher taxes will have severe impact on business
• South Africa’s Northam Platinum raises $118 mln with medium term note placement
• Uganda shilling holds steady as banks pare positions
• Kenya shilling weakens against the dollar
• Qatar call for arms embargo against Libya’s Haftar

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