By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Investors eye Fed decision later today
• Fed likely to ignore Trump’s call to cut interest rates
• Sterling strengthens ahead of BoE MPC meet
• China, US hold ‘productive’ trade talks in Beijing
• New Zealand dollar hurt by jobs setback

Oil Markets

• Oil falls on swelling US stockpiles, but global markets tense
• US crude stocks rise to 466.4 mln barrels – API
• Crisis in Venezuela seen as risk to oil supply
• US ends all waivers on Iran sanctions
• US oil output, exports are rising
• Brent down 0.8 pct at $71.52 a barrel (0652GMT)
• WTI down 1 pct at $63.25 per barrel

Precious metals

• Gold steady as markets brace for Fed decision
• Spot gold nearly steady at $1,282.01 per ounce (0107GMT)
• US gold futures little changed at $1,284.30 an ounce

Grains

• Corn extends gains into sixth session on planting delay fears
• Most active CBOT wheat futures up 0.4 pct at $4.30-1/4 per bushel (0118GMT)
• Most active corn futures up 0.6 pct at $3.64-1/2 per bushel
• Most active soy futures up 0.2 pct at $8.55-1/2 per bushel
• Most active rice futures down 0.3 pct at $10.55 per hundredweight

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

• May day
• World press freedom day
• Decision on South Africa’s Semenya at court of arbitration for sports
• South Africa’s COSATU May day rally in eThekwini to be graced by Ramaphosa; to deliver keynote speech
• World Bank’s Malpass in Africa (29 Apr – 3 May); Ethiopia and Mozambique next, after visiting Madagascar
• UK foreign secretary Hunt in Africa (29 Apr – 3 May); Ethiopia & Kenya next, after visiting Senegal, Ghana & Nigeria
• South Africa’s state capture inquiry resumes tomorrow; 2 May

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

• Arab states support Sudan transition, want stability – UAE minister
• Dutch court to hear case against Shell brought by Nigerian activists’ widows
• 2 Shell oil workers rescued after Nigeria Delta region kidnapping – police
• Gambia signs oil exploration deal with BP for A1 block
• South Africa’s Sibanye shaft declared safe, miners brought to surface
• Algeria’s ruling party names relatively young new leader amid protests
• Congo drops mercenaries investigation of opposition leader Katumbi
• Sudan protest group says military “not serious” about civilian handover
• Egypt’s Muslim Brotherhood says it will continue “peaceful” work regardless of Trump moves
• Congo central bank cuts main interest rate to 9 pct
• Algeria’s ruling FLN party elects new leader – state TV
• Rains torment cyclone-hit communities in Mozambique
• IMF staff says buildup of Zambia’s domestic expenditure arrears poses risk
• Air strike kills four people in Somalia – relatives
• Russia, Turkey call for ceasefire in Libya – Kremlin
• South Africa’s Steinhoff cuts value of goodwill assets in 2017 accounts
• Sudan protest group says military council “not serious” about civilian handover
• Africa Oil – Awards for Indian tenders awaited, Nigerian offered high
• South Africa’s rand steadies after trade data, stocks fall
• Rwanda to increase spending by 11 pct in 2019-20
• Support for South Africa’s ANC at 51-61 pct, opinion polls show
• Egypt’s M2 money supply growth slows to 11.38 pct y/y in March – c.bank
• African countries hit by commodity slump must ‘re-calibrte’ debt – IMF Africa chief
• Nigeria’s Senate hikes 2019 budget with focus on security
• Nigeria deploys satellite tech to track oil smugglers
• Nigerian lawmakers pass 8.91 tln naira budget for 2019
• Algeria army chief says big corruption cases to be revealed
• Cambridge University to study how it profited from Atlantic slavery
• South Africa posts trade balance surplus in March
• Ivory Coast bans Olam rice imports for one year after spoilt shipment
• Drought puts 2.3 mln people at risk in Angola – UNICEF
• Rwanda detains rebel leader from group behind deadly attacks – minister
• Kenya Airways likely to stick with Boeing as losses narrow
• Sudan women at forefront of protests after years of oppression
• Sudan’s military rulers accept resignations of three of their members
• Uganda shilling strengthens on the back of charity flows
• South African Airways agrees debt rollover deal in principle – CEO
• Hengyi buys African crude ahead of Brunei refinery startup – sources
• Kenya inflation shoots up to 6.58 pct in April due to food, fuel prices
• As rains break, aid workers rush to reach cyclone victims in Mozambique
• Kenya shilling strengthens against the dollar
• Algeria ex-PM in court for corruption probe – Ennahar TV
• Kenya’s Equity Group in deal to buy African bank stakes

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