By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Dollar firm but stocks, oil under pressure as US-China tensions rise
- Pompeo says ‘significant evidence’ virus emerged from lab
- AUD, NZD hit 1-wk lows; stocks poised to slip
- China, Japan on holidays
Oil Markets
- Oil prices open down on persistent oversupply worries
- US-China trade tension could hold back global economic recovery
- Brent down 3.4% at $25.54 a barrel (0008GMT)
- WTI down 7.6% at $18.27
Precious metals
- Gold gains as rising US-China tensions dent risk sentiment
- Spot gold up 0.7% at $1,696.88/oz. (0109GMT)
- US gold futures up $1,703.20/oz.
Grains
- Chicago soybeans fall on demand concerns, wheat drops 1.3%
- Soybeans down 0.4% at $8.45-3/4 a bushel (0023GMT)
- Wheat down 1.3% at $5.09-3/4 a bushel
- Corn down 0.6% at $3.16-3/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Nigeria, South Africa, Rwanda ease covid-19 lockdown
- South Africa ABSA manufacturing PMI Apr-20 [prev. 48.1]
- Nigeria manufacturing PMI Apr-20 [prev. 51.1]
- Nigeria planned infectious disease law in focus [reportedly contains draconian provisions; negative]
- Nigeria releases overview of 2019 poverty & inequality report
- Egypt auctions $800 mln in dollar t-bills
- 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 over the weekend & early a.m today
- Algeria announces new cut in 2020 public spending
- Egypt reopens hotels for local tourists with strict conditions
- South Africa union wins case on covid-19 safety for miners
- South Africa Airways could shed staff from May 12 – rescue specialists
- President queries Tanzania coronavirus kits after goat test
- Glencore Zambia subsidiary to resume mining temporarily
- Algeria cuts energy revenue, forex forecasts for 2020
- Few masks in packed Burkina Faso mosques as coronavirus ban lifted
- Egypt reports 15 military casaulties in Sinai recently
- Egypt sees growth slowing to 2% in 2020-21 if coronavirus continues to December – minister
- South Africa deputy finmin urges central bank to print money to fund govt – report
- Ivory Coast PM flies to France for medical checks
- Lesotho parliament moves closer to forcing PM Thabane out of office
- Libya central bank reserves to fall 20% as oil revenues sink – audit bureau
- IMF approves $91 mln loan to Malawi for covid-19 trade balance woes
- French foreign legion soldier dies after being wounded in Mali
- Algeria leader vows to develop new resources beyond energy to ease economic crisis
- Thousands of Ethiopia migrants quarantined in universities wait to go home
- [Militant group] claims responsibility for Egypt’s Sinai attack
- South Africa trade unions seek court action over job cuts at SAA
- Africa Oil – Nigeria export programmes shrink in June, May
- Zimbabwe extends coronavirus lockdown again, announces $720 mln stimulus
- Lake Victoria’s surging water levels threaten hydro dams – Uganda
- Africa free trade deal launch unlikely this year – AfCFTA Sec Gen
- Exxon posts first loss in 30 years on writedown, oil price plunge
- European Investment Bank joins WHO in pandemic help for Africa
- South Africa eases lockdown of battered economy
- Rwanda will start to ease coronavirus lockdown from Monday
- WHO ministerial to open on May 18; UNICEF seeks flights for vaccines
- Nigeria Afrobeat pioneer Tony Allen dies aged 79
N.B. Full stories of above headlines are available on Reuters