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