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

Global Markets

• Stocks slip as market await Trump’s HK response
• Sino-US tensions outweigh optimism over re-opening
• Nikkei, ASX retreat from multi-month highs, MSCI AxJ -0.3%
• Currencies steady; Trump press conference awaited

Oil Markets

• Oil prices fall as US fuel demand remains weak
• Crude, distillates stocks rise last week – EIA
• OPEC+ considers extending 9.7 mln bpd output cuts beyond June
• Brent down 1% at $34.93 a barrel (0106GMT)
• WTI down 1.5% at $33.20

Precious metals

• Gold clocks up as US-China tensions sour risk appetite
• Spot gold up 0.1% at $1,719.63/oz. (0049GMT)
• US gold futures up 0.4% at $1,734.60/oz.

Grains

• Corn extends gains, set for biggest weekly jump in 7 months
• Corn up 0.5% at $3.29 a bushel; up more than 3% for the week
• Wheat little changed at $5.14-3/4 a bushel, up 1% for the week
• Soybeans down 0.4% at $8.44; up 13% for the week

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

• South Africa PSCE Apr-20 [fcst. 8.1% yy, prev. 7.8%]
• South Africa M3 Apr-20 [fcst. 8.9% yy, prev. 9.5%]
• South Africa consumer confidence Q2-20 [prev. -9]
• South Africa trade balance Apr-20 [prev. ZAR24.25B]
• Nigeria foreign exchange reserves May-20 [prev. $33.4B]
• South Africa ministers brief press on covid level 3 alert regulations
• Key African countries on lockdown or restricted; subdued economic activity
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today

• Sudan army officer dies, soldiers hurt in attack by Ethiopia militia – SUNA
• Debt relief plans for world’s poor countries inch forward
• G20 says 36 of poorest countries have applied for debt relief
• Seven health workers, civilian killed in Somali village – aid group
• Nigeria president submits revised 2020 budget to parliament
• Burundi opposition leader files case contesting presidential vote
• Egypt registers 1,127 new coronavirus cases, 29 deaths
• With no deaths, Namibia to further ease coronavirus lockdown
• Libya Tripoli govt says 30 migrants killed in revenge attack
• Tunisia protest over jobs amid economic downturn
• Tunisia central bank keeps key interest rate unchanged at 6.75%
• Africa Oil – India continues to provide silver lining for Nigeria crude
• South Africa stocks push higher despite rising US-China tensions
• South Africa to open up economy from June under eased lockdown regulations
• South Africa state asset manager proposes Eskom debt-to-equity swap
• Nigeria central bank unexpectedly cuts benchmark lending rate to 12.5%
• Rwanda ex-politician handed life jail term for genocide role
• 27 killed in central Mali ethnic attacks, local officials say
• South Africa retailer Mr Price has no plans to buy Jet
• Kenya shilling to weaken, Uganda’s to strengthen; in week ahead
• South Africa Sibanye-Stillwater detects 51 covid-19 cases at Rustenburg operations
• Africa hit by sustained community spread of coronavirus – disease centre
• Kenya shilling steady, expected to ease due to energy sector demand
• Amid lockdown, Kenya medical startup brings clinic to your home
• Uganda shilling firms on weak importer demand
• Some medics say they are muzzled in Egypt’s coronavirus response
• South Africa Old Mutual warns of 20% drop in first-half profit
• South Africa rand climbs to 9-wk high vs dollar

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