By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

• Asia stocks fall after US crude collapses for second day
• Asian shares hit 2-wk low as caution grows on economy
• Brent falls below $20, June WTI at $13
• US treasury yields fall as investors seek shelter

Oil Markets

• Oil prices recover ground after market turmoil fuels price plunge
• Brent up 4 cents at $19.37 a barrel (0034GMT); settled down 24% in previous session
• WTI up 18% at $13.62

Precious metals

• Gold little changed as falling equities offset firm dollar
• Spot gold steady at $1,685.46/oz. (0041GMT)
• US gold futures up 0.9% at $1,703.60/oz.

Grains

• Corn edges higher but gains capped by weak ethanol outlook
• Corn futures up 0.2% at $3.18/bushel (0129GMT)
• Wheat futures down 0.7% at $5.42-1/4 a bushel
• Soybeans little changed at $8.41 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

• South Africa’s Ramaphosa chairs AU virtual meet with African business leaders
• Nigeria state governors meet
• Nigeria’s Buhari chief of staff pick awaited
• South Africa inflation rate Mar-20 [fcst. 6.3% yy, prev. 4.6%]
• 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

• Saudi king Salman approves performing Tarawih in the two holy mosques
• Cameroon arrests soldiers for killing civilians in separatist war
• South Africa Ramaphosa pledges COVID-19 rescue package worth 10% of GDP
• World Health envoy warns of unrest in poor nations without action to combat virus
• Buhari asks Nigeria chief judge to free prisoners because of coronavirus
• South Africa aiming for new viable airline from SAA business rescue
• Ghana, Burkina Faso test easing of epidemic restrictions
• G20 agriculture ministers say corona measures should not disrupt food supply
• Africa Oil – Some Angolan clears but large overhang remains
• Some OPEC ministers discuss implementing agreed oil cuts immediately
• World Bank tells G20: Pandemic threatens food security of poor nations
• South Africa rand weakens as oil crash weighs, markets down
• Brent oil drops to near 2-decade lows on falling demand, storage woes
• Morocco prison becomes coronavirus hotspot
• Kenya central bank shifts its policy meeting to April 29
• Uganda detains prominent journalist for ‘subversive’ activities
• Kenya chiefs go door-to-door to stop FGM amid coronavirus
• Weary Algerians fear fresh economic turmoil as oil prices dive
• Wescoal says Eskom declares force majeure on coal supply agreements
• South Africa union federation calls for $53 bln stimulus plan
• Senegal – Stranded foreign students in Dakar live in coronavirus limbo
• Coronavirus very likely of animal origin, no sign of lab manipulation – WHO
• Kenya’s NCBA Bank pulls final dividend for 2019 due to coronavirus
• Congo artisanal cobalt programme expands with industry backing
• Hundreds of South Africa firms worry they lack resources to weather lockdown – survey
• Namibia president appoints new central bank governor
• Uganda shilling holds steady against the dollar
• Kremlin says OPEC+ ‘contacts’ can be set up if needed amid oil collapse
• South Africans volunteer to keep rhino orphanage going during lockdown
• Nigeria naira forwards hit record high after oil price tumble
• Nigeria annual inflation rises to 12.26% y/y in March
• Tullow Oil appoints Delonex chief Rahul Dhir as chief executive
• Debt relief for poor countries not as simple as it sounds – analysts
• Copper prices drop as Glencore plans to reopen Zambia mine operations

N.B. Full stories of above headlines are available on Reuters