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

Global Markets

• Hong Kong leads Asia shares lower as Beijing readies new security law
• Hang Seng falls over 3% as Beijing plans new security law
• Hong Kong latest flashpoint in deteriorating US-China ties
• China pledges more stimulus, does not set 2020 growth target
• Major currencies unmoved

Oil Markets

• Oil prices, gasoline demand climb as countries ease coronavirus curbs
• Brent up 0.4% at $36.20 a barrel (0040GMT)
• WTI up 0.2% at $33.97

Precious metals

• Gold faces weekly decline on signs of growth picking up
• Spot gold at $1,727.39/oz. (0248GMT); down 1.4% yesterday
• US gold futures up 0.3% at $1,726.50/oz.

Grains

• Wheat inches down, but set for 3% weekly gain on supply concerns
• Wheat futures down 0.2% at $5.15 a bushel (0118GMT)
• Wheat up nearly 3% for the week
• Soybeans down 0.5% for the week
• Corn down nearly 0.5% for the week

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

• Kenya senate votes to impeach deputy speaker Kindiki
• Egypt starts marketing 3-tranche dollar bonds
• 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

• Nigeria’s economy to shrink 8.9% in worst case – finance minister
• Threat to hit Turkey in Libya underscores risk of escalation
• Ethiopia to sell 40 pct of Ethio Telecom – Minister
• Seychelles considers admitting Israelis in initial tourism restart
• US reaches consensus with Sudan on ‘contours’ of future claims deal
• South Africa SPAR sees Polish business breaking even in 24 months
• South Africa rand strengthens after cenbank cuts repo rate, stocks fall
• South Africa central bank cuts lending rate by 50 bps
• Hundreds killed in South Sudan tribal clashes – ICRC
• Vodcacom South Africa now a standalone business
• World Bank approves record $500 mln to battle locust swarms
• IMF says over 20 poor countries seek debt relief, extension possible
• Investec Bank CEO sees no sector-wide relief to come from South Africa banks
• Nigeria inflation rose for eighth month at 12.34% in April on higher food prices
• Kenya’s KCB bank sees a quarter of loans hit by coronavirus
• Egyptians rush to buy treats before Eid al-Fitr curfew
• Nigeria black market naira seen under pressure; in week ahead
• South Africa Cell C to place some assets in SPV – regulator
• Eskom CEO targets massive debt reduction for sustainable future
• Ethiopia to issue two new telecom operator licenses – regulator
• Nigeria central bank warns against using FX black market
• Egypt gets over $12 bln in orders for three-tranche bonds, tightens guidance – document
• Ethiopia to issue new telecom operator licenses – regulator
• Nigeria – Lagos doctors to end strike after curfew harassment complaint remedied
• South Africa’s Cell C to split some assets into new special purpose vehicle – regulator
• South Africa scientists say up to 50,000 covid-19 deaths possible
• Rwanda economic growth to slow in 2020 due to coroanvirus
• South Africa Tsogo Sun Hotels sees core profit hit from travel restrictions
• Uganda shilling steady helped by auction and commodity exports
• Kenya shilling steady, helped by tight liquidity
• Egypt starts marketing 3-tranche dollar bonds – document
• Rwanda to increase spending 7.5% in 2020/21 – finmin
• South Africa Eskom aims for 200 bln rand debt balance
• Rwanda GDP growth to slow to 2% in 2020 from 9.4% last year – finmin
• South Africa Investec reports 16.8% drop in annual profit
• Losses at Polish business hit South Africa’s Spar half-year earnings
• Uganda women fear food shortages will make coronavirus and HIV a deadly mix

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