Wednesday, January 23, 2019

Lukman Otunuga

    Dollar bulls back in action as Gold dips

Dollar bulls back in action as Gold dips

The dollar jumped to a fresh weekly high against a basket of major currencies on Tuesday amid market optimism over the US federal reserve raising interest rates at least twice in 2018.There is a suspicion that dollar bullish investors are starting to look beyond December’s disappointing NFP headline figures, and have their sights set on wage growth which held steady at 2.5% [...]

0 comment Read Full Article
    Global stocks mixed as holiday mood kicks in

Global stocks mixed as holiday mood kicks in

Global equity markets struggled for direction during Wednesday’s trading session, with investors on the fence as activity continued to decelerate ahead of the upcoming Christmas holiday break. Asian shares concluded on a mixed note on Wednesday as anticipation mounted ahead of a final vote on the US tax bill. In Europe, shares were lacklustre amid the limited appetite for risk and this could trickle back into [...]

0 comment Read Full Article
    BoE keeps rates unchanged

BoE keeps rates unchanged

Sterling offered a fairly muted response during Thursday’s trading session after Bank of England policy makers unanimously voted to leave interest rates unchanged at 0.5% in December. Although inflation in the United Kingdom has jumped to its highest level in almost six years, it seems that the growing uncertainty over Brexit is likely to encourage the central bank to adopt a wait and [...]

0 comment Read Full Article
    Global stocks under pressure; Bitcoin hits another record

Global stocks under pressure; Bitcoin hits another record

Global equity bulls were nowhere to be found during Tuesday’s trading session as market players evaluated the possible impact of proposed US tax cuts. World stocks were mostly lower amid a global technology selloff, with the lack of appetite for riskier assets punishing European shares and Wall Street.  Asian markets stumbled lower during early trading on Wednesday, following Wall Street’s overnight decline. With the [...]

0 comment Read Full Article
    Market quite but dollar under pressure

Market quite but dollar under pressure

Another eventful trading week is slowly coming to an end with global stocks mostly mixed today, as investors sit on their hands ahead of the weekend.Asian markets closed mostly mixed on Friday, while European stocks struggled for direction after the Thanksgiving holiday in the United States on Thursday. Although Wall Street will be open this afternoon, a subdued session is [...]

0 comment Read Full Article
    Dollar punished by Fed caution UK GDP in focus

Dollar punished by Fed caution UK GDP in focus

The Dollar found itself vulnerable to heavy losses on Wednesday evening, after minutes from the latest FOMC meeting illustrated concerns among policymakers over the inflation outlook. Although Federal Reserve official expressed optimism over economic growth and expected interest rates to be raised in the “near term”, there was still growing concerns over the prolonged periods of stubbornly low inflation in the U.S. The [...]

0 comment Read Full Article
    Dollar wobbles as Trump lands in China

Dollar wobbles as Trump lands in China

Asian stock markets were mostly higher during early trading on Thursday, following Wall Street’s modest gains overnight. The positive momentum from Asia is likely to support European stocks this morning, with the bullish sentiment trickling back down into Wall Street later in the day. World stocks have had a brilliant trading year, thanks to rising confidence over the global economy and optimism [...]

0 comment Read Full Article
    Heavy hitters give Nigeria the thumbs up

Heavy hitters give Nigeria the thumbs up

October was certainly another positive month for the largest economy in Africa, which has yet again showcased its brawn and resilience on the global stage.Annual inflation eased for the eighth straight month, while encouraging core economic metrics pointed to further signs of economic stability. Rising global oil prices and recovering domestic oil production has positively impacted government revenues and [...]

0 comment Read Full Article
    Euro continues to tumble, US GDP in focus

Euro continues to tumble, US GDP in focus

It has been another interesting week for global markets as investors continue to wrestle with the Catalonia crisis, bumpy Brexit negotiations, and uncertainty around who will become the next Fed Chair.The main highlight was on Thursday, when the European Central Bank moved forward with a “dovish taper”, a move that is seen as the first step to ending easy money.Stock [...]

0 comment Read Full Article
    Euro pressured by political jitters

Euro pressured by political jitters

The Euro found itself vulnerable to losses on Monday morning, thanks to heightened political drama in Spain.Jitters over the Catalan developments were felt across the board, after Prime Minister Mariano Rajoy gave Carles Puigdemont until 08:00 GMT to clarify Catalonia’s independence status. Puigdemont simply ignored Madrid’s ultimatum, submitting a letter that failed to provide a clear indication on his response to the independence declaration [...]

0 comment Read Full Article
    Nigeria strides into Q4

Nigeria strides into Q4

Nigeria displayed its resilience in the global arena on repeated occasions this year, by confronting a currency crisis, navigating depressed oil prices and rebounding from an economic deceleration.With the nation currently in the process of recovering from its worst slump in 25 years, despite the headwinds created from both external and internal risk, the overall outlook remains highly encouraging.Annual [...]

0 comment Read Full Article
    Gold struggles to shine as dollar firms

Gold struggles to shine as dollar firms

Gold struggled to hold onto its shine on Tuesday, as the risk-on mood encouraged investors to seek riskier assets, such as equities.The yellow metal dipped to a seven-week low below $1270 during early trading, and it looks like further punishment is in store, as firming US rate hike expectations buoy the US dollar.With prices securing a solid monthly close below the [...]

0 comment Read Full Article
    Dollar smiles while sterling scowls

Dollar smiles while sterling scowls

Sterling’s price action this week can be described as messy, as rocky Brexit negotiations between the United Kingdom and Brussels, left investors on edge.Sentiment towards the Pound was already fragile amid the uncertainty, and reports released on Friday, showing a downward revision of Britain’s annual growth rate, put more pressure on the currency. Economic growth in the United Kingdom rose [...]

0 comment Read Full Article
    Dollar flexes ahead of Yellen’s speech

Dollar flexes ahead of Yellen’s speech

King Dollar flexed its muscles against a basket of major currencies during Tuesday’s trading session, as investors positioned ahead of Janet Yellen’s hotly anticipated speech in Cleveland later.Dollar bulls seem to be making a return, following hawkish comments from the Federal Reserve’s William Dudley on Monday. Dudley said that the central bank was still on track to gradually raise interest [...]

0 comment Read Full Article
    Dollar depressed ahead of FOMC decision

Dollar depressed ahead of FOMC decision

The Dollar has drifted lower against a basket of major currencies, ahead of the Federal Reserve decision later today, which is largely expected to conclude with an unchanged monetary policy.With it being considered aprevious conclusionthat US interest rates will be left unchanged in September, much attention will likely be directed towards the Fed’s forward guidance, for clues on future monetary [...]

0 comment Read Full Article
    Risk appetite flickers ahead of Jackson

Risk appetite flickers ahead of Jackson

Investors in Asia and Europe swiftly discarded safe-haven assets on Tuesday, as risk appetite staged a modest recovery ahead of the upcoming Jackson Hole Economic Policy Symposium this week.Most Asian shares were boosted by the mild improvement in risk sentiment during early trading, with European stocks venturing higher and subsequently breaking a three-day losing streak. The domino effect from Asian and [...]

0 comment Read Full Article
Advertisement
Advertisement

 

Advertisement

Advertisement

Exchange Rates

January 21, 2019USDGBPEUR
INTERBANK306397354
LAGOS362463411
KANO361465413
PH361462412
ABUJA362462413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement