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

Global Markets

• Asian shares hold on to gains but virus keeps on markets on edge
• Pandemic threatens sharp global slowdown
• Dollar braces for US manufacturing data
• Oil market in confusion over supply glut

Oil Markets

• Oil prices fall as US inventory build-up heightens oversupply concerns
• Brent down 1.8% at $25.88 a barrel (0345GMT)
• WTI up 0.6% at $20.6

Precious metals

• Gold recovers from 3% slump as dollar, Asian equities ease
• Spot gold up 0.4% at $1,577.83/oz. (0030GMT)
• US gold futures down 0.3% at $1,591.30/oz.

Grains

• Corn rebounds from 2-wk low, USDA forecast caps gains
• Corn up 0.2% at $3.41-1/2 a bushel (0126GMT)
• Soybean down 0.2% at $8.84-1/2 a bushel
• Wheat up 0.5% at $5.71-1/2 a bushel

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

• Key African countries on lockdown; subdued economic activity
• South Africa ABSA manufacturing PMI Mar-20 [prev. 44.3]
• Kenya parliament special session on Kenyatta covid-19 stimulus plan

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

• South Africa should seek IMF funding to deal with pandemic – IIF
• Paris Club creditors agree to cancel $1.4 bln of Somali debt
• Somalia to finalize debt forgiveness in bilateral talks – minister
• Egypt’s private airlines call for aviation minister to intervene amid coronavirus crisis
• Algeria leader urges discipline, says govt able to counter coronavirus
• Ethiopia postpones August election due to coronavirus
• MTN moves ahead on Nigeria stake sale with markets in turmoul – Bloomberg
• Tunisia extends lockdown by two weeks
• East Africa nation of Burundi confirms first coronavirus cases – Health ministry
• South Africa sends testing teams into townships to contain coronavirus
• Zambia bonds dive as govt calls in debt restructuring advisers
• Botswana records first death from coronavirus – vice president
• Africa Oil – Nigeria April cargoes weigh on market
• Ghana slashes GDP forecast over coronavirus shock
• Zimbabwe court rules Chamisa not legitimate leader of opposition
• South Africa rand firms after trade data, stocks rise
• OPEC rift widens as group fails to set date for emergency talks
• Tunisia releases 1,420 prisoners over coronavirus
• Kenya Airways seeks financial help from the govt
• Egypt M2 money supply up 13.96% y/y in February – c.bank
• Ivory Coast suspends Cargill, Barry Callebaut from buying new cocoa beans
• Katanga Mining witholds $250 mln Gecamines payment, delays Congo acid plant
• Africa’s biggest city Lagos locks down to defend against coronavirus
• South Africa lockdown squeezes global chrome supply
• South Africa’s trade balance swings to surplus in February
• Sierra Leone has confirmed its first case of coronavirus, president says
• Kenya shilling edges down against dollar
• Kenya year-on-year inflation falls 6.06% in March
• Uganda shilling holds steady against the dollar
• Coronavirus comes to rescue of Sierra Leone plundered rosewood
• Samancor Chrome issues force majeure due to South Africa lockdown
• France to seek debt moratorium for the most fragile countries
• South Africa Sanlam appoints new CEO, to take over by July
• South Africa Standard Bank withdraws guidance over coronavirus
• South Africa’s Harmony Gold sees lower output during 21-day lockdown
• Tanzania confirms its first coronavirus death, health minister says
• South Africa Sasol flags refinery slowdowns

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