By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia stocks jump to 3-mth high as recovery hopes outweigh looming risks
- Ex-Japan Asia-Pacific index hits 3-mth high
- Hopes of recovery from epidemic leads short-covering in stocks
- US yield curve steepens
Oil Markets
- Oil hits 3-mth high over hopes for output cuts
- Brent up 0.6% at $39.79 per barrel (0003GMT)
- WTI up 0.9% at $37.14
Precious metals
- Gold steady as equity rally offsets softer dollar
- Spot gold unchanged at $1,727.65/oz. (0259GMT)
- US gold futures down 0.1% at $1,732.20/oz.
Grains
- Soybeans up for 2nd session on Chinese demand, corn eases
- Soybean futures up 0.2% at $8.52-1/4 a bushel (0032GMT)
- Wheat up 0.2% at $5.09 a bushel
- Corn down 0.2% at $3.23-1/2 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Electoral Commission of Ghana pilot voter registration
- South Africa State Capture Commission’s Zondo briefs press
- 1st extraordinary virtual Organisation of African, Carribean & Pacific States (OACPS) heads of state summit
- South Africa Standard Bank PMI May-20 [prev. 35.1]
- Nigeria Stanbic IBTC PMI May-20 [prev. 37.1]
- Kenya, Ghana & Other Africa PMIs due
- South Africa raises fuel prices
- South Africa covid-19 level 3 alert & related court decision briefings expected
- 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
- Egypt non-oil private activity contracts by less in May – PMI
- Gambia calls for transparent probe of US police shooting of diplomat’s son
- Nigeria’s president backs embattled African Development Bank chief
- Zambia Copperbelt Energy Corporation says govt. declares infrastructure “common carrier”
- Africa Oil – IOC issues new tenders, teapots demand shrinking
- South Africa rand, stocks jump as lockdowns eased
- South Africa watchdog expands rand-rigging case, adds new banks
- South Africa High Court says some lockdown restrictions invalid, govt says
- Nigeria Senate approves president’s request for $5.5 bln in external borrowing
- South Africa Comair unlikely to restart operations before November
- South Africa watchdog expands rand-rigging case, adds new banks
- Uganda to lose $1.6 bln in tourism earnings as a result of covid-19
- Egypt wealth fund to develop Cairo Citadel district into tourist destination
- Mauritania will also get Paris Club debt relief under G20 deal
- Angola seeking G20 debt relief, debt talks with oil importers “advanced”
- Zimbabwe tightens coronavirus lockdown in capital Harare
- South Africa Sanlam buys out Nigeria insurance business from First Bank
- Senegal postpones school restart after teachers test positive from coroanvirus
- Uganda shilling unchanged as some players pare positions
- Choking on diesel costs, Somali firm turns to solar for cheaper power
- Kenya shilling firms, horticulture dollar inflows help
- UN says Libya sides agree to truce talks
N.B. Full stories of above headlines are available on Reuters
