macroafricaintel Daily Brief | 4 Jun

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.


  • 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

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.