By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia shares, oil rally on vaccine hopes, euro at 2-wk highs
- MSCI ex-Japan jumps to highest since May 1
- Euro hovers since 2-wk highs, yen weakens against dollar
- Coronavirus vaccine trial success sparks rally
- Oil jumps to highest in over 2 mths
Oil Markets
- Oil prices lifted for 4th day by signs of output cuts and demand pick-up
- June contract hits 9-wk high before Tuesday’s expiry
- No sign of WTI plunge seen at previous month’s expiry
- Brent up 2.4% at $35.66 a barrel (0033GMT)
- WTI up 4.1% at $33.12
Precious metals
- Gold rises slightly on US-China tensions, gloomy economic outlook
- Spot gold up 0.2% at $1,735.04/oz. (0042GMT)
- US gold futures up 0.2% at $1,737.10/oz.
Grains
- Soybeans rise as USDA report shows plantings below expectations
- Soybean futures up 0.2% at $8.46-1/2 a bushel (0133GMT)
- Corn up 0.1% at $3.21 a bushel
- Wheat up 0.4% at $4.98-3/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Zimbabwe’s Mnangagwa hosts 3-nation Mozambique security summit
- South Africa’s central bank MPC meets; 19-21 May [fcst. 4.25%, prev. 4.25%]
- South Africa mining production Feb-20 [fcst. 4.6% yy, prev. 7.5%]
- South Africa manufacturing production Feb-20 [fcst. -5.3% yy, prev. -2.0%]
- Nigeria inflation Apr-20 [fcst. 12.5% yy, prev. 12.3%]
- WHO holds virtual 73rd World Health Assembly; 18-19 May
- Malawi court-order presidential election rerun [rescheduled to 2 July]
- 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
- Madagascar summons French ambassador in protest over natural reserve
- South Sudan vice president, wife test positive for coronavirus
- Sudan extends lockdown in Khartoum state by two weeks – SUNA
- Congo says it won’t renew contract with passport maker Semlex
- Somalia sees “massive” rise in FGM during lockdown and Ramadan
- Libya forces aligned with Tripoli govt capture key air base
- South Africa’s Growthpoint provides rent relief to nearly 1,500 small firms
- Total calls off plan to buy Occidental Petroleum’s Ghana assets
- Rwanda victim welcomes arrest of genocide suspect
- Uganda detains prominent academic protesting coronavirus lockdown
- Children of Rwanda genocide fugitive Kabuga led police to Paris-area hideout
- South Africa rand rises on easing lockdown restrictions globaly, markets rally
- Mali, Dominica first to get Paris Club debt relief under G20 deal
- Africa Oil – Angola July exports set to be lower than in June
- Nigeria to impose precision lockdown in coronavirus hotspots
- OPEC+ cuts oil exports sharply so far in May – trackers
- IMF chief says ratings worries dampen interest in G20 debt relief
- Morocco extends coronavirus lockdown to June 10
- South Africa retailer Steinhoff chair Heather Sonn steps down
- Massmart’s sales hit by South Africa coronavirus lockdown
- Morocco smugglers embark on long new route to ship drugs to Europe
- Egypt pound slips to weakest in three months
- Zimbabweans go hungry as coronavirus compounds climate woes
- South Africa airports operator ACSA seeks state guarantees for $594 mln in new debt
- Africa backs WHO, needs help with debt relief, supplies – Ramaphosa
- Drought-hit Romania wheat crop should still meet Egypt tenders
- Live music lifts spirits in Burkina Faso’s coronavirus curfew
- Uganda shilling steady as flat appetite lends support
- Kenya shilling strengthens against the dollar
- Libya forces aligned with Tripoli govt claim key air base
- Moody’s says South Africa loan guarantee scheme will aid financial stability
- Tullow says Kenya force majeure allows time to resolve tax issue
- Senegal online food company sees sales double due to epidemic
- Zimbabwe tenders for 500MW solar power plants in renewable energy drive
- Africa countries get new tool to predict climate-related disasters
N.B. Full stories of above headlines are available on Reuters
