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

Global Markets

• Asian shares turn cautious, oil rebounds in choppy trade
• Asian markets turn choppy, give back some recent gains
• Oil rebounds in Asia, after steep slide
• US dollar holds steady, Aussie hit by rating change

Oil Markets

• Oil prices jump on hopes for OPEC, Russia meeting on output cuts
• Brent up 2.4% at $32.62 a barrel (0246GMT)
• WTI up 5.5% at $24.93

Precious metals

• Gold eases on firmer dollar, coronavirus slowdown signs
• Spot gold down 0.2% at $1,644.99/oz. (0049GMT)
• US gold futures down 0.7% at $1,671.30/oz.

Grains

• Wheat falls for second straight session on US crops outlook
• Wheat futures down 0.5% at $5.46-1/4 a bushel (0230GMT)
• Soybeans up 0.3% at $8.57-1/4
• Corn up 0.3% at $3.32-1/4

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

• Ghana Covid-19 policy statement by finmin Ofori-Atta to parliament
• Rwanda starts week-long never-again genocide commemoration
• South Africa SACCI business confidence Mar-20 [prev. 92.7]
• Glencore’s Mopani Copper shutters Zambia mines
• Kenya locks down Nairobi (6 Apr) & Kilifi, Mombasa & Kwale (8 Apr)
• 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

• Iran doesn’t agree with holding OPEC+ meet without clear outcome – oil min
• Kenya sees GDP growth slowing to 3% or less in 2020
• Egypt foreign reserves drop to $40.1 bln in March – c.bank
• US pushes back on call by OPEC+ to join big oil output cuts
• Eastern Libya confirms first coronavirus case
• IMF says considering Nigeria’s request for funds to fight pandemic
• Egypt to ban Ramadan gatherings to counter coronavirus
• Saudi call for OPEC+ meeting is an extension to its efforts to achieve market balance
• Tunisia seeks donations to fund coronavirus facilities
• Africa Oil – Stubborn Nigeria overhang weighs
• Tanzania lets pregnant girls attend school with World Bank project
• Algeria pushes ahead with Islamic finance plans
• South Africa rand gains with other emerging currencies on coronavirus hopes
• China must step up on Africa debt relief – Ghana finmin
• Ethiopia airlines has lost $550 mln this year due to coronavirus – CEO
• South Africa union takes govt to court over Covid-19 gear shortage
• Algeria banks to defer payments for coronavirus hit firms
• South Africa lenders rally as central bank clarifies dividend guidance
• G20 energy minsters to meet to foster global cooperation – statement
• Glencore’s Mopani copper mine shutters Zambia mines due to coronavirus
• Ethiopia taps army of women health workers to fight coronavirus
• Copper belt miners turn to Tanzania as South Africa lockdown hobbles ports
• South Africa banking index reverses losses, rises over 10%
• Under coronavirus lockdown, Rwandans remember genocide from home
• Uganda shilling unchanged after central bank cuts lending rate
• Lockdowns: Saving lives, but ruining livelihoods in Africa
• Kenya shilling weakens amid thin activity, fewer trading hours
• Zambia says Glencore declares force majeure at Mopani Copper Mines
• Zambia plan to block Glencore plans to close copper operations
• South Africa Standard Bank will consider central bank guidance on dividends
• South Africa net foreign reserves fall to $44.7 bln in March

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