By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia stocks drop as virus recovery begins to look distant
- The path ahead is uncertain – Fed Chair Powell
- The virus may never go away – WHO
- Hang Seng -1%, dollar up, gold hits 1-wk peak
Oil Markets
- Oil prices edge higher on surprise US stock drawdown, but demand concerns linger
- Brent up 0.2% at $29.25 a barrel (0045GMT)
- WTI up 0.3% at $25.37
Precious metals
- Gold inches higher on US stimulus talks; jobs data awaited
- Spot gold up 0.1% at $1,716.66/oz. (0037GMT)
- US gold futures up 0.6% at $1,726.20/oz.
Grains
- Wheat hits near 2-mth low on ample global stockpiles
- Wheat futures down 0.1% at $5.01-3/4 a bushel (0143GMT)
- Soybeans down 0.3% at $8.37-1/4 a bushel
- Corn up 0.36% at $7.53-3/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- South Africa’s Ramaphosa visits Eastern Cape to assess covid-19 response
- 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
- Burkina Faso prosecutor launches probe after 12 detainees die in custody
- South Africa SAA adminstrators will not sell assets without involving govt – memorandum
- South Africa to ease coronavirus restrictions cautiously – Ramaphosa
- Nigeria set to keep record 2020 budget to fight coronavirus despite earlier cut
- South Africa’s Ramaphosa to discuss easing covid-19 restrictions further by end-May
- Congo citizens bring civil action in Belgium against passport maker
- Eritrea activists sue EU for funding roads built with ‘forced labour’
- Tunisia relaxes curfew with virus outbreak slowing
- Africa e-commerce giant Jumia cuts costs, hopes for lockdown boost
- Nigeria LNG signs EPC contract for Train 7 – oil minister
- Nigeria to borrow at home and abroad to finance 5.36 trln naira budget deficit – finmin
- South Africa rand inches firmer in cautious trade, stock market down
- Africa Oil – Nigeria offers provide little clarity as glut remains
- South Africa treasury targets June 24 to finalise coronavirus budget
- OPEC slashes oil demand forecast again, sees biggest hit this quarter
- Tunisia relaxes coronavirus curfew hours
- South Africa Shoprite joins Pick n Pay in dropping exclusivity clauses in mall leases
- Egypt presses on with new capital in the desert amid virus outbreak
- Remote Lesotho becomes last country in Africa to record covid-19 case
- Egypt in talks with IMF for second tranche of financial support – official
- Alphabet’s Loon and South Africa’s Vodacom to expand rural internet in Mozambique
- Niger says 75 insurgents killed in border-region security operations
- Morocco hopes to boost domestic tourism to save key sector
- South Africa lists clothing allowed for sale as lockdown eases
- Ghana inflation jumps in April due to coronavirus lockdowns
- Nigeria president appoints ex-UN diplomat chief of staff
- South Africa’s Spur talking to financial institutions as precautionary measure
- South Africa amends arms export document after inspection row
- Uganda shilling holds steady against the dollar
- Kenya shilling under pressure from the dollar
- Airtel Africa sales rise as more customers sign up for phone services
- South Africa rand firms on optimism over relaxing coronavirus restrictions
- Lesotho PM Thabane will resign by May 22nd – spokesman
- Kenya KCB Group restructures 15% of loans due to coronavirus
N.B. Full stories of above headlines are available on Reuters
