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 2^nd 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