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