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

Global Markets

• Asia rides Wall St surge as investors place hopes on US stimulus
• MSCI ACWI builds on biggest gains since 2008 financial crisis
• Gold retain gains after big jump
• Dollar slides as funding squeeze eases a little

Oil Markets

• Oil ekes out gains as US stimulus hopes lift global markets
• Brent up 1.8% at $27.64 a barrel (0043GMT)
• WTI up 2.5% at $24.61

Precious metals

• Gold gains slightly as US stimulus hopes offset cash rush
• Spot gold up 0.1% at $1,611.73/oz. (0230GMT)
• US gold futures up 0.8% at $1,673.60/oz.

Grains

• Corn climbs over 1% on expectations of stronger ethanol demand
• Corn futures up 1.2% at $3.52 a bushel (0120GMT)
• Soybean futures up 0.5% at $8.92 a bushel
• Wheat futures down 0.2% at $5.60-1/4 a bushel

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

• Inter-ministerial briefing on South Africa 21-day lockdown; day 2
• Reported covid-19 infections of senior Nigeria officials may force official briefing

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

• Madagascar’s central bank injects cash to support economy due to virus
• IMF sees Malawi medium-term economic growth rising to as much as 7%
• Algeria jails opposition figure Karim Tabbou for year – activists
• Namibia announces travel ban, partial lockdown after seventh coronavirus case
• South Africa stocks, mining firms bounce on stimulus measures
• Africa Oil – Overhang shows little sign of falling as major buyers cut runs
• Hit by war and oil blockade, Libya prepares for pandemic
• Top Nigeria president aide, state governor test positive for coronavirus
• Sasol to bid to supply South Africa’s Eskom with temporary power
• Some 70 Nigeria soldiers killed in northeast militant ambush – sources
• Algeria energy export revenue falls 25% in January
• Congo’s central bank cuts interest rate in response to coronavirus
• Germany says 6 million coronavirus face masks missing in Kenya
• Kenya to seek IMF help, pay arrears and speed tax refunds
• As social distancing meets Congo, some say “it just won’t work”
• Egypt declares 2-wk curfew to counter coronavirus
• Nigeria’s central bank holds benchmark lending rate at 13.5%
• South Africa braces for lockdown as coronavirus cases spike to 554
• Egypt to extend suspension of flights for 2 weeks from April 1 – minister
• Germany loses 6 million coronavirus face masks in Kenya
• Africa jazz legend Manu Dibango dies from coronavirus in France
• Uganda central bank sells dollars to slow shilling’s depreciation
• Kenya shilling weakening caused by ‘malicious actors’ – central banker
• South Africa’s rand rises on Fed support even as lockdown looms
• Kenya central bank to triple repo tenure to boost bank liquidity
• South Africa’s foreign direct investment dips in 2019
• Cameroon saxophone player Manu Dibango dies from coronavirus
• Kenya shilling inches down against dollar, spreads widen

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