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