macroafricaintel Daily Brief | 28 Apr

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

Global Markets

  • Asia shares fall in fresh rout in crude prices
  • End in sight for some lockdowns
  • Oil suffers as USO ETF sells front-month futures
  • Markets eye Fed, ECB meetings this week

Oil Markets

  • Oil prices slide again as world runs low on storage capacity amid plunge in demand
  • Brent down 1.4% at $19.72 a barrel (0110GMT)
  • WTI down 6% at $12.01

Precious metals

  • Gold slips as lockdown easing plans lift risk appetite
  • Spot gold down 0.7% at $1,702.09/oz. (0139GMT)
  • US gold futures down 0.3% at $1,719.20/oz.


  • Corn flat as USDA planting report weighs on market
  • Corn futures unchanged at $3.13-1/4 a bushel (0158GMT)
  • Soybeans up 0.1% at $8.37-1/2 a bushel
  • Wheat up 0.4% at $5.27 a bushel

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

  • IMF decides on Nigeria $3.4 bln loan request
  • Nigeria parliament resumes
  • Nigeria’s Buhari 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 yesterday & early a.m today

  • Nigeria to begin ‘phased and gradual’ easing of lockdownsin Lagos, Abuja
  • Libya eastern leader Haftar says army to take formal control
  • WHO chief says pandemic “far from over”, worried about children
  • World Bank pandemic bonds will funnel $196 mln to 64 poor countries
  • Algeria extends coronavirus restrictions to May 14
  • Burundi vote campaign begins in shadow of violence & covid-19
  • Virtually all Equatorial Guinea oil business on hold – hydrocarbons minister
  • Rwanda in talks to delay debt payments as coronavirus hits economy – President
  • Nigeria overnight rates drop after $3.9 bln liquidity squeeze
  • US acknowledges killing 2 civilians in 2019 Somalia air strike
  • Africa Oil – Traders seek clarity around Nigeria output
  • IMF chief says expects Nigeria coronavirus aid by end of April
  • Exxon Equatorial Guinea offshore workers test positive for coronavirus – sources
  • Coronavirus stirs rancour in South Africa on democracy anniversary
  • UN raises alarm about police brutality in lockdowns
  • Uganda opposition presidential hopeful says allied lawmaker tortured, blinded
  • Senegal groups get homeless children off streets amid coronavirus
  • 30 workers on Equatorial Guinea offshore oil platform test positive for coronavirus
  • Nigeria oil export plans delayed amid talks with majors on cuts – sources
  • De Beers’ Namibia diamond venture boosts output by nearly 6% in Q1
  • After beating coronavirus, a Zimbabwe survivor lives with the stigma

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

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