By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asian shares cautiously gain on virus hopes, dollar slips
- Early signs of virus peaking in Europe, New York
- Broad gains from Tokyo to Sydney but momentum ebbs
- Currencies, bonds steady as economic risks weighed
Oil Markets
- Oil gains as hopes rise for production cut amid coronavirus outbreak
- Brent up 2.2% at $33.78 a barrel (0026GMT)
- WTI up 3.7% at $27.05
Precious metals
- Gold slips from 4-wk high as dollar, equities firm on coronavirus slowdown
- Spot gold down 0.2% at $1,657.67/oz. (0110GMT)
- US gold futures up 1.7% at $1,723
Grains
- Corn heads higher after dropping for seven straight sessions
- Corn up 0.6% at $3.29-3/4 a bushel (0226GMT)
- Soybean up 0.6% at $8.61
- Wheat down 0.6% at $5.51-1/4
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Kenya locks down Nairobi (6 Apr) & Kilifi, Mombasa & Kwale (8 Apr)
- South Africa Eskom global investor update call
- South Africa FX reserves Mar-20 [prev. $54.7B]
- Key African countries on lockdown; subdued economic activity
- Covid-19 updates by authorities across the continent
Key African events or data releases yesterday & early a.m today
- Trump says OPEC has not asked him for a US oil production cut
- Morocco makes face masks compulsory due to coronavirus
- OPEC+ likely to agree to cut production if US joins effort – sources
- Egypt reports 149 new coronavirus cases, its highest daily toll
- Morocco looks to foreign debt to deal with coronavirus impact
- South Africa central bank asks lenders to scrap dividends amid virus
- South Africa should not approach IMF for help, ANC and allies say
- “We are at war”: Kenya halts movement to areas worst hit by coronavirus
- Zimbabwe eases coronavirus lockdown to allow diaspora remittances flow
- South Africa central bank announces regulatory relief for banks
- Gunmen kill 25 soldiers in north Mali attack – army spokesman
- Africa Oil – Sonangol sells Cabinda, Girassol cargoes
- South Africa Eskom plans global investor update call – lead manager
- South Africa rand firmer as risk takers return, stocks up 3.29%
- Nigeria seeks $6.9 bln from lenders to fund coronavirus fight
- Norway considers attending OPEC meeting on April 9 – oil ministry
- South Africa sets aside $64 mln for small-scale farmers amid lockdown
- South Africa central bank sees up to -4% GDP over coronavirus fallout
- Ivory Coast police clash with protesters over coronavirus test centre
- Uganda slashes main interest rate to 8% as coronavirus hurts economy
- KFC owner witholds rent on South Africa stores amid lockdown – Bloomberg
- Kenya president halts movement in areas affected by the coronavirus
- Kenya – Safaricom, Vodacom finalise M-Pesa acquisition from UK’s Vodafone
- South Africa makes more spectrum available to meet internet demand
- Kenya shilling weakens as players beef up positions
- Congo mine attack kills three Chinese nationals – Xinhua
- South Africa Woolworths warns of likely 20% profit fall
- Saudi Arabia delays setting May prices, looks to OPEC meeting to settle price war
N.B. Full stories of above headlines are available on Reuters