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

Global Markets

• Asian stocks rise, dollar languishes near 2-yr lows on Fed
• Sentiment supported by ultra easy monetary policy
• Eyes on US coronavirus relief package negotiations
• Brent up 4 cents at $43.79, WTI up 1 cent at $41.28
• Spot gold off 0.4% at $1,962.6/oz.

Oil Markets

• Oil holds steady as virus concerns weigh on demand hopes
• US crude stocks post biggest weekly drop since Dec
• US gasoline, distillate inventories post surprise builds
• Brent up 4 cents at $44.13 a barrel (0330GMT)
• WTI down 1 cent at $41.26

Precious metals

• Gold eases as risk appetite improves after Fed policy meeting
• Gold up more than 28% so far this year
• Spot gold down 0.3% at $1,964.70/oz. (0329GMT)
• US gold futures up 0.3% at $1,959.20/oz.

Grains

• Corn firms after four days of losses, record US crop hopes cap gains
• Corn ticks up on bargain buying after 4 sessions of losses
• Soybeans face pressure as US-China tensions raise demand worries
• Corn futures up 0.2% at $3.27 a bushel (0250GMT)
• Soybeans down 0.25 cents at $8.85 a bushel
• Wheat down 0.1% at $5.32-1/2 a bushel

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

• Eid holidays in Nigeria, Kenya & others from tomorrow
• South Africa producer inflation Jun-20 [fcst. 0.3% yy, prev. 0.4%]
• Kenya, Uganda & Zambia release July inflation data
• Nigeria FX reserves Jul-20 [prev. $36.2B]
• Nigeria manufacturing PMI Jul-20 [prev. 41.1]
• South Africa trade balance Jun-20 [prev. ZAR15.94B]
• South Africa state capture inquiry continues
• 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

• Contested Mali lawmakers will not step down, says representative
• World Bank’s IFC launches $4 bln medical supply financing platform
• Ivory Coast pledges fair vote, Ouattara asked to run again
• Egypt’s Sisi approves restrictions on retired army officers standing for election
• Half of violence against African migrants is by law enforcers, UN says
• Morocco arrests dissident journalist on rape and spy charges
• Seven babies stillborn in one night at Zimbabwe hospital as nurses strike
• WTO set to skip naming acting chief after US push caused deadlock
• South Africa insurers Old Mutual, Guardrisk offer to settle with virus-hit firms
• ‘Vaccine nationalism’: Is it every country for itself?
• Egypt budget deficit falls to 7.8% in FY 2019/20 – cabinet
• Gambia VP tests positive for coronavirus, president self-isolating
• EU set to drop Algeria from safe country travel list
• Zimbabwe agrees to pay $3.5 bln compensation to white farmers
• Kenya police arrest fugitive indicted in US for ivory, rhino horn trafficking
• Egypt’s arrears to foreign oil companies fall to $850 mln at end of June – minister
• South Africa’s Standard Bank warns of up to 50% profit slump
• South Africa’s Sasol to sell world’s biggest oxygen production site to Air Liquide
• Zimbabwe minister Shiri, who helped plot Mugabe ouster, dies at 65

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