By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asian stocks gain on hopes pandemic is approaching peak
- Investors look for signs pandemic is slowing
- Oil firm before OPEC+ meeting
- Sterling resilient after PM Johnson hospitalisation
Oil Markets
- Oil prices extend gains on hopes OPEC+ will cut output
- Brent up 2.5% at $33.71 per barrel
- WTI up 4.58% at $26.24
Precious metals
- Gold inches up on weak dollar, pandemic peaking hopes cap gains
- Spot gold up 0.1% at $1,646.81/oz. (0059GMT)
- US gold futures down 0.1% at $1,682.70/oz.
Grains
- Corn firms, market awaits USDA global supply-demand report
- Corn up 0.4% at $3.31-1/4 a bushel (0250GMT)
- Soybeans up 0.6% at $8.69-1/4
- Wheat up 0.4% at $5.50-1/4
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- OPEC+ virtual meeting on production cuts
- 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
- World Bank says sub-Saharan Africa will enter recession in 2020
- Trump says US producers have already cut back oil production
- Zimbabwe reopens produce markets after protests by drought-hit farmers
- Libya’s Serraj blames central bank amid oil blockade
- Congo president’s chief of staff arrested amid graft probe
- South Africa minister disciplined for ‘lockdown lunch’
- UN Seeks $130 mln to prevent hunger catastrophe in Zimbabwe
- Somalia records first death from coronavirus – health minister
- Algeria energy minister says Thursday OPEC+ meeting will be ‘fruitful’ – state news agency
- Sudan increases bread prices in Khartoum to help bakers
- In Libya, water cuts add to misery of conflict and coronavirus
- South Africa’s Naspers pushes its resilience even as some businesses hit by virus
- Ethiopia & Liberia declare states of emergency to curb coronavirus
- African Devpt Bank launches $10 bln Covid-19 response facility
- Libya oil revenue was $1.3 bln in Q1 – central bank
- Africa Oil – Trade quiet as traders wait for OPEC meeting outcome
- Somalia has registered first death from coronaviurs – health minister
- IMF says Morocco drew $3 bln from liquidity line to fight pandemic
- South Africa stocks lose close to 2% as EM rally dissipates
- Ivory Coast issues domestic bonds worth 110 bln CFA francs
- Egypt extends nationwide night-time curfew to counter coronavirus
- Uganda shilling weakens due to commercial bank dollar demand
- South Africa business confidence index drops to 7-mth low in March
- Egypt approves first issuance of sukuk by Talaat Mostafa subsidiary
- Kenya shilling eases against the dollar, market activity slow
- South Africa Sasol cuts production, sales target on coronavirus impact
- Nedbank could nix future dividends after South Africa central bank guidance
- Japan to pledge contribution to IMF trust for low-income countries hit by pandemic – finance ministry source
N.B. Full stories of above headlines are available on Reuters