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