By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asian stocks set for best weekly gain in 9 years, ECB stimulus boosts euro; US jobs eyed
- US dollar slide continues
- Euro maintains strength
- US employment report in view
Oil Markets
- Oil dips on uncertainty over producers’ commitment to output cuts
- Brent down 0.1% at $39.94 a barrel (0051GMT)
- WTI down 0.4% at $37.27
Precious metals
- Gold gains as equity rally halts, dollar softens
- Spot gold up 0.2% at $1,714.78/oz. (0056GMT)
- US gold futures down 0.3% at $1,721.90/oz.
Grains
- Soybeans set to mark biggest weekly gain in 8 mths
- Soybean futures up nearly 3.5% so far this week
- Corn up nearly 1% for the week
- Wheat up 1% so far this week
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Nigeria releases covid-19 households socio-economic effects survey
- South Africa’s Ramaphosa in Cape Town to assess WC covid response
- Ghana eases restrictions on religious gatherings
- South Africa foreign exchange reserves May-20 [prev. $53B]
- South Africa SACCI business confidence May-20 [prev. 77.8]
- OPEC+ meets tomorrow
- 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
- South Africa dehorns dozens of rhinos to prevent lockdown poaching surge
- African Development Bank board stands by embattled chief
- Algeria to ease coronavirus restrictions on Sunday
- Guinea approves SMB-Winning deal for Simandou iron mine project
- Vaccines group raises $8.8 bln for immunisation plans for poor countries
- Uganda to allow firms to defer tax payments to buoy lockdown-battered economy
- Africa Oil – Nigerian trade slows as IOC results awaited
- Turkey vows more support to secure gains in Libya conflict
- WHO says its representative told to leave Equatorial Guinea
- Eastern forces quit Libya capital after year-long assault
- ‘I lost my mind’: Ethiopian migrants forced home empty-handed by coronavirus
- Profit-taking pauses rally in South Africa’s rand, stocks
- Zambia reviews 2020 budget after covid-19 hits revenue
- Egypt to prosecute doctor, father over genital cutting of three girls
- South Africa govt to appeal ruling declaring some covid-19 measures invalid
- Egypt pound slips to weakest in seven months
- South Africa miners seek return of foreign mineworkers
- Tunisia to allow resident firms to borrow from abroad in foreign currencies
- African countries secure 90 million coronavirus test kits for next six months
- African currencies seen stable next week
- Senegal to ease coronavirus curfew as protests spread to capital
- South Africa’s FirstRand warns profit could fall more than 20%
- South Africa’s Barloworld hits hurdle over Tongaat’s starch business deal
- South Africa – AngloGold Ashanti’s Mponeng mine restarts slowly after covid-19 closure
- South Africa’s FirstRand warns of over 20% profit fall
- Tunisians emerge from lockdown into mosques and cafes
- Two girls’ lockdown learning underlines South Africa’s educational divide
- Egypt bans white sugar imports for 3 months – document
- Villagers in Togo mourn homes swallowed by the sea
- Mali’s industrial gold production expected to slump in 2020
- ‘Hunger or murder”: Lockdown poverty exposes African sex workers to more violence
- Erdogan hosts Libya PM as Turkey looks to lock in gains
- Libya’s GNA says it regains control of capital Tripoli
- World food price index hits 17-mth low in May – UN
- Kenya private sector up slightly in May, outlook poor – PMI
- Mozambique expects Exxon gas project decision next year
N.B. Full stories of above headlines are available on Reuters