By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia shares gain as BoJ eases further; US crude slips
- Nikkei rises on BoJ pledge to buy unlimited bonds
- Fed & ECB to meet later in week
- Raft of major US corporate earnings due this week
- Oil prices fall anew as world runs short of storage space
Oil Markets
- Oil falls as crude in US storage nears all-time high
- Brent ended last week down 24%; WTI off around 7%
- Crude in US storage near all-time high
- America rig counts fall; Russia halves western sea exports
- Algeria, Kuwait cut output in line with OPEC+ pact
- Brent down 1.5% at $21.11 a barrel (0122GMT)
- WTI down 7.2% at $15.72
Precious metals
- Gold slips as risk sentiment improves, losses trimmed on recession worries
- Spot gold down 0.3% at $1,722.61/oz. (0259GMT)
- US gold futures up 0.3% at $1,740.90/oz.
Grains
- Wheat drops for 2nd session on upbeat European crop prospects
- Wheat down 0.3% at $5.28-1/2 a bushel (0121GMT)
- Corn down 0.5% at $3.21-1/4 a bushel
- Soybeans down 0.2% at $8.38 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- South Africa Freedom Day; speeches by president & leaders of parties
- Nigeria’s Buhari speech on covid-19 expected, chief of staff pick awaited
- Key African countries on lockdown; subdued economic activity
- Covid-19 updates by authorities across the continent
Key African events or data releases over the weekend & early a.m today
- Algeria says proven oil reserves at 10 bln barrels
- Algeria scraps customs duties, VAT on pharma products
- Nigeria Kano state rise in deaths not due to coronavirus – govt
- US should avoid phased approach in trade talks with Kenya – Chamber of Commerce
- Egypt asking IMF for support during coronavirus crisis – PM
- Egypt’s Nile Air urges govt to take stakes in private airlines
- Total confirms 14 coronavirus cases at its Congo oil operations
- Algeria trade deficit widens sharply on energy revenue collapse
- Egypt state banks collect over $6 bln from high yield certificates
- Rwanda RwandAir cuts salaries by 8-65% due to coronavirus – internal memo
- South Africa seeking $5 bln from multilateral lenders to fight virus – Treasury official
- G20 launches initiative for health tools needed to combat the coronavirus
- Algeria allows businesses to reopen to ease coronavirus impact
- Nigeria governors seek to make face masks compulsory in public
- South Africa govt extends deadline for SAA severance deal to May 1
- Global coronavirus death toll hits 200k
- South Africa to reopen agric sector, allow more manufacturing, retail
- Moody’s sees South Africa GDP shrinking 6.5% in fiscal 2020
- IMF approves $309 mln in emergency financing to Mozambique to address coronavirus hit
- Angola Sonangol begins selling assets in firms
- DR Congo police arrest leader of seperatist cult after deadly clashes
- Land Bank debt default draws attention to South Africa state firms’s finances
- Nigeria levies $3.9 bln on banks to soak up liquidity, support naira
- South Africa rand strengthens on govt move to open economy from May
- Africa Oil – Sonangol offers scarce, Nigeria May exports face revisions
- Eastern Congo militia ambush kills 16, including 12 park rangers
- Botswana’s GDP to shrink 13% as coronavirus dims diamond industry
- OPEC member Angola says producer cuts insufficient, more action needed
- Russia halves Western sea oil exports in May after OPEC+ deal
- Zambia budget thrown into disarray due to coronavirus – Lungu
- IMF to consider Nigeria $3.4 bln request on April 28 – statement
- Egypt Commercial International Bank buys 51% of Kenya’s Mayfair
- South Africa says over $4 bln available from IMF, W.Bank to fight Covid-19
- Global leaders back WHO’s plan to speed Covid-19 drugs, vaccines
- Africa faces ‘hunger pandemic’ as coronavirus destroys jobs and fuels poverty
- South Africa Dis-Chem rejects claim it hiked prices of surgical masks
- South Africa FirstRand bank pulls FY20 forecast
- South Africa finmin says more than $4 bln available from IMF, World Bank
- South Africa 3-mth t-bill average yield slips to 4.28%
- Uganda shilling weakens against the dollar
- Evictions, power cuts heighten South Africa housing crisis amid lockdown
- Kenya shilling under pressure from energy sector dollar demand
- Pompeo urges Egypt to keep American prisoners safe from coronavirus
N.B. Full stories of above headlines are available on Reuters
