macroafricaintel Daily Brief | 20 Apr

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

Global Markets

  • Asia shares off to cautious start, US crude slides
  • Nikkei down early, S&P 500 futures ease back
  • Corporate earnings, factory surveys loom for the week
  • US May crude futures slide on supply glut

Oil Markets

  • US oil falls more than 10% to lows not seen since 1999
  • Brent down 0.8% at $27.87 a barrel (0142GMT)
  • WTI down 14% at $15.65

Precious metals

  • Gold slips as dollar firms amid doubts over US restart plan
  • Spot gold down 0.3% at $1,679.95/oz. (0316GMT)
  • US gold futures down 0.2% at $1,695.20/oz.

Grains

  • Wheat rallies as doubts about Russia shipments stoke supply fears
  • Wheat up nearly 1% on Russia exports suspension plans
  • Soybeans flat, corn down 0.5% on weak oil prices

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

  • Ghana lifts lockdown, maintains restrictions
  • Mali 2nd round parliamentary elections on Sunday; results processing
  • Key African countries on lockdown; subdued economic activity
  • Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today

  • MSF says aid worker dies in Nigeria after contracting coronavirus
  • Rwanda’s Kagame says Africa could take ‘a generation’ to recover from coronavirus – FT
  • Kenya’s Safaricom forecasts 7% coronavirus hit to M-Pesa revenue
  • South32 Q3 metallurgical coal output rises, South Africa coal ops to restart
  • ‘Armed bandits’ kill 47 in northwest Nigeria’s Katsina state – police
  • Algeria’s GDP growth falls to 0.8% in 2019
  • Tunisia extends coronavirus lockdown to May 4, expects gradual easing
  • South Africa tries to ease internal Lesotho tension after PM deploys army
  • Zambia official says Glencore reverses plan to shutter copper mines
  • Expelled from Mozambique, fugitive cocaine boss heads to Brazil jail
  • Escape of ebola patient in Congo sparks fear of further infection
  • Nigeria oil union suspends industrial action after Exxon Mobil workers freed
  • Zimbabwe extends coronavirus lockdown by two more weeks but mines can get back to work
  • Libya forces loyal to Tripoli govt try to build on military momentum
  • Number of coronavirus cases in Egypt passes 3,000
  • Nigeria president chief of staff dies from coronavirus
  • South Africa SAA offers severance packages to all staff after state pulls plug
  • Lesotho embattled PM Thabane deploys army to streets
  • Morocco govt extends coronavirus lockdown to May 20
  • SEC says Italy’s Eni agrees to settle charges in Algeria graft case
  • IMF, World Bank urge action to cover $44 bln gap in Africa pandemic needs
  • Rwanda uses drones to help catch lockdown transgressors
  • IMF, World Bank say Africa to get $57 bln from official creditors in 2020
  • South Africa mobile operators may need weeks to speed up data
  • IMF says Africa faces fiscal gap of $44 bln to deal with pandemic
  • Africa can still contain COVID-19 outbreak – WHO
  • Congo mine closures would cause economic & social crisis, minister says
  • Malawi high court sets aside coronavirus lockdown pending review
  • South Africa Ramaphosa dismisses call to lift ban on alcohol during lockdown
  • Nigeria oil hub quarantines 22 Exxon Mobil workers – governor
  • Namibia suspends poultry imports from South Caroline, Ukraine due to bird flu
  • South Africa rand slips, stocks higher on coronvirus vaccine hopes
  • Total working with Mozambique to mange Covid-19 cases at LNG site
  • Africa Oil – Offers head even lower as glut swells
  • World Bank chief says more trade will ease pandemic’s economic impact
  • Africa needs more than $200 bln to respond to pandemic, UN chief says
  • Namibia to close national parks until May 5, anti-poaching operations continue
  • World Bank Development Committee urges debt help for middle-income countries [Nigeria, etc]
  • Mixed blessing for some, as South Africa shelters homeless in schools, stadiums
  • South Africa Implats plans gradual return to operation after regulations eased
  • World Bank says no ‘free ride’ for commercial creditors on debt relief
  • Saudi grand mufti: Ramadan, evening, Eid prayers to be done at home amid coronavirus
  • At least 300,000 Africans expected to die in pandemic: UN agency
  • South Africa competition watchdog recommends approval of AngloGold-Harmony deal
  • Uganda shilling trades flat on depressed appetite from importers, banks
  • South Africa Implats plans gradual return to operation after regulations eased
  • South Africa mobile operators granted emergency lockdown spectrum to meet data demand
  • IMF’s Georgieva underscores need to help Africa, other emerging markets
  • Nigeria urges ‘appropriate’ debt solutions for middle-income countries

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

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