By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

• Asia shares seek calm, dollar rush causing stress
• Stocks try to steady after punishing week
• Massive fiscal & monetary stimulus offers lifeline
• Dollar surges on rush to safety, strains & borrowers
• Oil firms after biggest daily rally on record

Oil Markets

• US crude climbs after White House comments on Saudi-Russia dispute
• Brent down 0.1% at $28.44 per barrel (0151GMT)
• WTI up 1.7% at $26.34

Precious metals

• Gold gains but set for weekly drop amid flight for cash
• Spot gold up 0.4% at $1,475.43/oz. (0029GMT)
• US gold futures down 0.3% at $1,474.20/oz.

Grains

• Corn rises 1.5%, but on course for biggest weekly loss in 7 mths
• Corn futures down 4% so far this week
• Soybean little changed for the week
• Wheat up more 6% this week

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

• Namibia independence day; 21 Mar
• Guinea constitutional referendum; 22 Mar

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

• Morocco to restrict movement to slow down coronavirus – govt
• Algeria suspends domestic flights – Ennahar TV
• Militant attack kills 29 Mali soldiers – army
• Africa coronavirus cases to rise as some undetected – Africa’s CDC
• Niger confirms first case of coronavirus – health minister
• Morocco to pay jobless, defer tax and loans for small business
• Algeria set to suspend public transport, close cafes and restaurants
• Egypt detains women who called for prisoner release amid coronavirus, lawyer says
• Egypt to shut all cafes, malls, sports clubs in evenings until March 31
• Morocco makes a dozen arrests over coronavirus fake news
• Egypt registers 46 new coronavirus cases and one new death – health ministry
• Tributes flow for trailblazing Australia doctor who saved women in Ethiopia
• WHO working to ensure supplies of diagnostics, protective gear – Tedros
• Africa Crude – Sonangol allocating May term cargoes
• South Africa power utility Eskom orders investigation into COO
• Coronavirus hits tourism industry on Kenya’s coast
• South Africa’s rand sinks as big rate cut fails to stem declines
• Tunisia reports first coronavirus death
• Senegal’s house-bound school children take classes from TV
• Sudan appoints new central bank governor – statement
• South Africa delivers 100 bps rate cut to fight coronavirus
• Mideast, Africa airlines in crisis as coronavirus stifles demand – IATA
• South Africa to erect 40km fence on Zimbabwe border as coronavirus measure
• Panic buying forces South Africa supermarkets to ration food
• Kenya bank Equity Group’s 2019 profit after tax jumps 14%
• South Africa to regulate price increases linked to coronavirus – trade minister
• Teen pregnancy risk rises as schools shut for coronavirus in Africa
• Nigeria currency dealers refuse to show naira quotes after vow to crack down on speculators
• Uganda central bank sells dollars after shilling weakens
• Remittances from Egyptians working abroad reach $26.8 bln in 2019 – c.bank
• PSA halts activity at Morocco plant in Kenitra for 2 weeks
• Uganda shilling weakens due to offshore investor dollar demand
• African Airlines lose $4.4 bln in revenue as of March 11 due to coronavirus – IATA
• Stanchart Kenya confronts coronavirus impact ‘day at a time’
• Kenya’s shilling weakens to its lowest level since Sept 2015
• Dubai, Saudi Arabia, Morocco have temporarily waived airport slot rule – IATA
• Africa talks tough against coronavirus but many wonder why
• South Africa clears quarantined vessels after suspected coronavirus case
• South Africa’s Massmart to close non-performing stores
• Stanchart Kenya’s pretax profit rises 3% in 2019
• Glut of crude swells across Atlantic basin on coronavirus, OPEC+ hikes
• Namibia’s MeToo movement on the hunt to find and punish sexual predators

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