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

Global Markets

• Asia shares reverse early gains, eyes on China-US trade relations
• MSCI Asia-Pacific ex-Japan down 0.1%
• Hang Seng down 1.4%
• South Korea, Australia & NZ shares up

Oil Markets

• Oil falls as US-China tensions take toll
• Brent down 0.5% at $34.94 a barrel (0152GMT)
• WTI down 0.2% at $33.19

Precious metals

• Gold down as potential Japanese stimulus boosts risk appetite
• Spot gold down 0.4% at $1,728.06/oz. (0252GMT)
• US gold futures down 0.4% at $1,728.50/oz.

Grains (22 May)

• US wheat, soybean futures fall with export prospects; corn edges up
• Soybeans slump on US-China tensions
• Wheat slips back after three successive daily gains
• Soybeans ends down 1-3/4 cents at $8.33-1/4 a bushel
• Wheat down 7-1/4 cents at $5.08-3/4 a bushel
• Corn slightly up ¼ cent at $3.18 a bushel

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

• Africa Day; activities across continent
• Nigeria GDP Q1-2020 [fcst. 1.0% yy, prev. 2.6%]
• South Africa govt briefings on planned 1 June covid level 3 alert move
• Muslim Eid celebrations; some markets on holiday
• Key African countries on lockdown or restricted; subdued economic activity
• Covid-19 updates by authorities across the continent

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

• Ivory Coast army joins Burkina Faso in anti-insurgent operation
• Workers at China Moly’s Congo mine end 1-day strike over covid-19
• South Africa president says lockdown to ease from June 1
• AngloGold Ashanti shuts South Africa mine after finding 164 coronavirus cases
• Libya Haftar seeks to rouse forces against Turkey
• Zambia information minister tests positive for coronavirus
• Trump urges Libya de-escalation on call with Erdogan – White House
• eSwatini cuts rates further in response to virus
• South Africa, Mozambique discuss aid to fight insurgency
• Africa’s Muslims celebrate Eid in the shadow of covid-19
• Namibia culls ten ‘dangerous’ elephants to protect farmers, crops
• Egypt forces kill 21 militants in North Sinai – state TV
• Burundi police detain more than 200 opposition election observers
• UK court throws out Nigeria oil corruption case against Shell, Eni
• South America is a new covid ‘epicentre’, Africa deaths still low – WHO
• Anglo American explores sale of South Africa coal alongside spin-off – sources
• Africa Oil – India’s IOC takes four cargoes
• South Africa rand retreats as US-China tensions dim risk appetite
• Libya Tripoli govt retakes more areas of capital
• Africa music legend Mory Kante dies aged 70 in Guinea
• World Bank sees Nigeria $1.5 bln loan decision in late July – Bank official
• UN prosecutor: remains of Rwanda war crimes suspect found in Congo
• Angola oil exploration evaporates as covid-19 overshadows historic reforms
• UK’s Blair: Patchy data means Africa could use antibody tests to track covid-19
• South Africa scientists say up to 50,000 covid-19 deaths possible
• Uganda shilling unchanged as banks’ appetite flat
• Egypt strategic rice reserves sufficient until October – supply ministry
• South Africa’s Sasol full-year earnings drop of at least 20%
• South Africa’s Nedbank warns on profit amid covid-19 crisis

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