By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia shares up as plans to re-open US economy offset record slump in China GDP
- Stocks take China GDP in stride
- Dollar falls as safe-haven demand wilts
- US oil futures hit 18-yr low
Oil Markets
- Brent oil jumps nearly 3% after Trump lays out plan for easing coronavirus restrictions
- Brent up 2.7% at $28.57 a barrel (0058GMT)
- WTI up 0.1% at $19.88
Precious metals
- Gold on track for 2nd weekly gain on global recession fears
- Spot gold down 0.1% at $1,716.56/oz. (0045GMT)
- US gold futures down 0.1% at $1,730.30/oz.
Grains
- Wheat faces biggest weekly loss since late February on declining demand
- Wheat down 4.4% this week
- Corn down more than 3% for the week
- Soybeans down 1.7% week thus far
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Liberia parliament debates Weah covid-19 stimulus plan
- Nigeria inflation rate Mar-20 [fcst. 13.2% yy, prev. 12.2%]
- 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
- Nigeria urges ‘appropriate’ debt solutions for middle-income countries
- South Africa to allow mines to operate at 50% capacity during lockdown
- Wheat slumps after Egypt again passes on US grain, soy sags
- Egypt to halt public transport on Monday to limit holiday crowds
- Libyans rush to stock up for Ramadan before coronavirus curfew kicks in
- Mozambique lowers growth forecast to 2.2% over Covid-19
- IMF gets $11.7 bln in pledges to aid poor countries, will review resources
- South Africa rand inches lower in cautious trade, shares down
- Paris wheat up after Egypt buys from France in tender
- Africa Oil – Angolan programmes emerge, volumes steady
- Tunisia foreign currency reserves rise to $7.7 bln after new loans
- Africa may see millions of coronavirus cases, tentative WHO forecast shows
- IMF’s Georgieva underscores need to help emerging markets, reverse capital outflow
- Canopy Growth to shut down Yorkton facility, exit South Africa operations
- Kenya court charges Catholic priest with spreading coronavirus
- Portugal’s BCP pursues Mozamibique in latest case over $2 bln debt scandal
- Nigeria security forces killed 18 people during lockdowns – rights panel
- South Africa’s Absa to finance new coal projects only under ‘extenuating’ circumstances
- eSwatini records first coronavirus death – health minister
- World Bank gives Malawi $37 mln to help fight coronavirus
- Mixed blessing for some, as South Africa shelters homeless in schools, stadiums
- Africa FX – Kenya shilling seen under pressure next week
- South Africa’s Vodacom sees 40% jump in data usage as people stay at home
- Uganda shilling little changed, liquidity mop-up expected to offer support
- Remittances from Egyptians working abroad rose to $5.2 bln in Jan and Feb – c.bank
- Millions face hunger as African cities impose coronavirus lockdowns
- South Africa court rules in favour of insurer Liberty in row with rival
- Treatment of Africans in southern China sparks diplomatic backlash
N.B. Full stories of above headlines are available on Reuters
