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

Global Markets

• Stocks adrift as vaccine rally falters
• Equity rally runs out of puff; MSCI AxJ -0.07%
• AUD backs off multi-week high, gold and bonds up

Oil Markets

• Oil prices ease on dim economic outlook despite signs of firmer demand
• Brent down 0.3% at $34.54 a barrel (0031GMT)
• WTI down 0.4% at $31.83

Precious metals

• Gold gains as bleak economic outlook stokes safe-haven demand
• Spot gold up 0.2% at $1,747.19/oz. (0256GMT)
• US gold futures up 0.4% at $1,753.30/oz.

Grains

• Wheat eases on improved weather, corn falls after 3 days of gains
• Wheat futures down 0.2% at $4.98 a bushel (0026GMT)
• Soybeans up 0.1% at $8.43-1/4 a bushel
• Corn down 0.4% at $3.20 a bushel

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

• Burundi holds presidential election
• Zambia decides interest rates [fcst. 11.5%, prev. 11.5%]
• Lesotho swears in new prime minister
• South Africa retail sales Feb-20 [fcst. 0.7% yy, prev. 1.2%]
• South Africa’s central bank MPC meets; 19-21 May [fcst. 4.25%, prev. 4.25%]
• Nigeria inflation Apr-20 [fcst. 12.5% yy, prev. 12.3%]
• 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

• Burundi heads to poll amidst health and violenc concerns
• Eastern Libya forces say to move back from Tripoli fronts
• Nigeria woos local firms to boost manufacturing as coronavirus disrupt imports
• Egypt registers 720 new coronavirus cases in one day
• South Africa to start phased school re-opening on June 1
• Egypt says proposed standby funding from IMF aimed at helping businesses
• South Africa defence firm Denel can’t pay May salaries
• Ceasefire, diplomacy needed to end Libya crisis – UAE official
• Africa Oil – Nigeria offers firm
• UN envoy pushes for end to foreign fueling of Libya conflict
• Wealthy countries failing Africa during pandemic, presidents say
• South Africa rand firms on covid-19 vaccine hopes
• Paris Club debt relief to pick up after G20 deal clarified – France
• Southern Africa bloc backs Mozambique in fight against insurgents
• South Africa publishes covid-19 mine safety rules
• Rwanda genocide suspect Kabuga brought before French court
• Lebanon says it will honour Algeria Sonatrach contract amid probe
• Lafarge Africa halts capex and warns of second-quarter sales drop
• South Africa Denel says can’t pay staff salaries in May
• Egypt to provide $6 bln in loan guarantees to aid businesses
• DR Congo police crackdown on sect killed 55 in “bloodbath” – Human Rights Watch
• Namibia lifts foot-and-mouth disease restrictions
• ‘Reasonable prospects’ South Africa’s Comair can be saved – administrators
• Successful OPEC+ output deal fits a pattern: Kemp
• Egypt extends suspension of international flights until further notice
• Lesotho PM, named as suspect in murder case, bows to pressure to quit
• Uganda shilling flat as covid-19 lockdown cuts importer demand
• South Africa manufacturing output down 2.1% y/y in February
• Zimbabweans in South Africa use app to send food home after border restrictions
• Rwanda genocide fugitive Kabuga due before French court
• Sovereign wealth funds fly to relative safety of US assets amid pandemic
• South Africa BCG booster trials seek low cost weapon against covid-19
• Kenya shilling firms against dollar, tight liquidity helps
• Eastern Libya forces pull out of parts of Tripoli
• Kenya herb farmers crushed by virus blow to exports

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