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

Global Markets

• Asian shares hit 2-mth high as economic optimism spreads
• Sentiment improves as focus shifts to economic recovery
• Dollar slides as risk appetite continues
• Brent crude flits with $40 for first time since March

Oil Markets

• Oil prices fall on concerns supply to rise as producers wrangle on cuts
• Brent down 1% at $39.38 a barrel (0157GMT)
• WTI down 1.6% at $36.68

Precious metals

• Gold rises on political frictions, weaker dollar
• Spot gold up 0.4% at $1,703.67/oz. (0212GMT)
• US gold futures flat at $1,704.90/oz.

Grains

• Soybeans hold steady at near 3-wk high on Chinese demand
• Soybean futures steady at $8.57-1/4 a bushel (0123GMT)
• Corn futures up 0.1% at $3.24-1/4 a bushel
• Wheat up 0.2% at $5.12-3/4 a bushel

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

• Uganda’s Museveni delivers state of the nation address
• South Africa current account balance Q1-20 [prev. ZAR-68.1B]
• 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

• African, Caribbean migrants continue trek towards US border
• ExxonMobil’s delayed FID on Mozambique project should come next year – official
• Two more people infected with ebola in new Congo outbreak, WHO says
• Libya’s govt retakes Tripoli airport ahead of possible truce talks
• Militia kills 16 villagers in DRC raid
• Mali’s industrial gold production expected to slump in 2020
• Coronavirus protest rocks Senegal’s holy city Touba
• WHO set to resume hydrochloroquine trial in battle against covid-19
• Vaccine group plans advance market agreement for covid-19 vaccines
• South Africa rand climbs to 11-week peak, markets rally
• South Africa Eskom may miss unbundling target date – CEO
• Africa Oil – IOC tenders offer hope, European demand still dismal
• OPEC+ technical, ministerial committee meetings set for mid-June – sources
• Rwanda genocide suspect must face UN tribunal, rules French court
• Oil falls from $40 as doubts emerge over next step on OPEC cuts
• Libya officials hold talks abroad amid fears of more fighting
• Nigeria efforts to cut gas flaring delayed by coronavirus restrictions
• Russia says its prisoners in Libya main obstacle to bilateral cooperation – minister
• South Africa – Anglo American Platinum shuts unit at processing plant
• Saudi, Russia agree oil cuts extension, raise pressure for compliance
• Uganda health workers say they lack vital equipment to fight covid-19
• Debt relief for poorest countries could extend beyond year-end – G7
• Rwanda genocide suspect’s health no obstacle to transfer to UN tribunal – French court
• South Africa airlines look to restart operations, see slow recovery
• Egypt, UAE welcome Libya ceasefire talks
• Zimbabwe raises $20 mln in t-bill sales to fight coronavirus
• Ethiopia food delivery startup rides to restaurants’ rescue
• Zambia denies power firm CEC claims of expropriation
• Sudan’s PM promises justice on anniversay of sit-in killings
• Senior Libya official arrives in Moscow for talks – RIA
• Lesotho former first lady arrested in murder case
• Kenya shilling gains ground, agricultural exports help
• Egypt non-oil private activity contracts by less in May – PMI
• China says relevant departments in contact with Angola on debt relief
• South Africa factory activity contracts further under lockdown – PMI

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