By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Stocks plunge, dollar slides as Fed’s emergency cut spooks investors
- Fed cuts rates to 0-0.25%
- Dollar drops 2% vs yen
- Australian market down 7%, Nikkei futures sliding
Oil Markets
- Oil slides again, squeezed between coronavirus demand hit and price war bite
- Brent down $1.13 at $32.72 a barrel (0230GMT)
- WTI down 72 cents at $31.01
Precious metals
- Gold rises after Fed rate cut, but pares gains on cash hunt
- Spot gold up 0.9% at $1,543.60/oz. (0248GMT)
- US gold futures up 1.8% at $1,544.20/oz.
Grains
- Soybeans fall near 10-mth low on coronavirus spread
- Soybean futures down 1% at $8.41-1/4 a bushel (0019GMT)
- Corn futures down 0.8% at $3.62-3/4 a bushel
- Wheat futures down 0.4% at $5.03-3/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- South Africa inter-ministerial briefing on new COVID-19 measures
- Special meeting of top officials of South Africa’s ruling ANC
- Ghana opposition NDC’s Mahama press briefing
- Nigeria inflation Feb-20 [fcst. 12.2% yy, prev. 12.1%]
Key African events or data releases over the weekend & early a.m today
- African nations close borders, cancel flights to contain coronavirus spread
- Sudan suspends higher education institutions over coronavirus
- Morocco to create $1 bln fund to counter coronavirus outbreak
- South Africa’s Ramaphosa declares state of disaster over COVID-19
- Lagos gas blast kills 15, destroys several buildings – Nigerian officials
- Algeria to suspend all flights to and from France from Tuesday
- Sudan inflation hit 71.36% in February on food, drink price rises
- Egypt’s central bank ready to intervene if necessary
- Equatorial Guinea reports first coronavirus case, health ministry says
- Tunisia ask citizens for donations to help tackle coronavirus
- France asks airlines to help citizens stuck in Morocco
- Four more African nations confirm coronavirus, new controls put in place
- Morocco suspends all international passenger flights – foreign ministry
- Tunisia beach resorts face up to coronavirus blight
- Egypt trading suspended as shares plunge due to coronavirus
- Congo Republic reports first coronavirus case – govt statement
- Libya’s Tripoli govt declares emergency, shuts down ports, airports
- Sudan closes schools and universities for one month over coronavirus
- Egypt shuts schools, universities for 2 weeks as virus cases increase
- Central African Republic confirms first coronavirus case – WHO
- Seychelles confirms two coronavirus cases – health commissioner
- Senegal orders all schools closed in response to coronavirus
- Two western hostages freed after 15-mth captivity in Africa’s Sahel
- South Africa’s coronavirus cases rise to 38, health ministry says
- Congo health authorities stumble with first coronavirus case confusion
- Namibia reports first two cases of coronavirus, imposes travel ban
- Rwanda confirms first case of coronavirus – health ministry
- Kenya, Ethiopia join expanding list of African states with coronavirus
- Mauritania confirms first coronavirus case
- eSwatini in Southern Africa reports first coronavirus case
- Egypt reports 13 new cases of coronavirus, bringing total to 93
- Embattled Malawi president dissolves cabinet
- Morocco to close all schools starting March 16 over coronavirus fears – education ministry
- Tunisia suspends prayers in mosque, bans gatherings due to coronavirus
- Libya closes schools over coronavirus
- Soccer – African Nations Cup qualifiers postponed over coronavirus
- Africa Oil – Nigerian under pressure due to weak demand
- Libya’s NOC to cut all non-essential expenses – statement
- Egypt says nearly 20 killed in freak bad weather
- Algerians defy coronavirus threat to keep up protests
- South Africa’s rand recovers as stimulus spurs risk buying
- Morocco suspends all passenger sea and air trips to France – state news agency
- Mauritius central bank pumps in liquidity to support businesses
- Sudan reports first coronavirus case
- Russia sees no grounds to resume talks with OPEC+ – Ifax cites energy minister
- Tunisia to require self-isolation for all visitors from abroad – state media
- South Africa’s ex-president Zuma’s bid to stop corruption trial is rejected
- Uganda shilling trades flat as demand recedes
- Kenya shilling drops slightly after first case of coronavirus
- Zambia power firm Zesco says electricity deficit growing
- Uganda accuses ex-general of seeking Rwanda suppor to remove Museveni
- Ghana, Gabon confirm first cases of coronavirus
- Ivory Coast leader backs PM Gon Coulibaly in presidential race
- Facebook, Twitter remove Russia-linked accounts in Ghana targeting US
N.B. Full stories of above headlines are available on Reuters