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