Monday, November 12, 2018

Tag "Federal Reserve"

    Nigeria inflation declines further in May ECB in focus

Nigeria inflation declines further in May ECB in focus

In an encouraging development, Nigeria’s inflation has eased to 11.6% in May, the lowest level seen in more than two years.With consumer prices slowly edging closer to the Central Bank of Nigeria’s target band of 6%-9%, an interest rate cut seems likely before year-end.The combination of easing inflationary pressures, improving economic fundamentals and ongoing foreign exchange stability could [...]

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    Dollar dips on dot-plot disappointment, BoE in focus

Dollar dips on dot-plot disappointment, BoE in focus

The federal reserve has lifted interest rates to their highest level since the financial crisis, but Dollar bulls are clearly unamused.Although on Wednesday, as widely expected, US interest rates were raised by 0.25% to a new band of 1.5% -1.75%, investors were more concerned with the dot-plot and Powell’s press conference. While the policy statement was generally positive and US [...]

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    Bulls are back in town, thanks to US employers

Bulls are back in town, thanks to US employers

The NASDAQ composite index climbed to a fresh record after the release of Friday’s jobs report.The S&P 500 is 10 percent higher from the trough recorded on February 9, and fixed income markets aren’t showing any signs of anxiety, with US 10-year bonds yields remaining well below the three percent critical level.Appetite for risk spread to Asian markets today with the [...]

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    Dollar collapse likely to remain in place

Dollar collapse likely to remain in place

It has been a painful week of trading for the dollar. The Greenback has essentially reversed its recovery from the previous two trading weeks, to return back towards levels not seen since December 2014.  This means that the dollar has not been valued this low since traders began to price in the normalization of US interest rate policy from the Federal [...]

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    What if the Fed raised US interest rates?

What if the Fed raised US interest rates?

While the Dollar has turned slightly lower as trading for the new week has commenced, the major currency rebounded and moved significantly higher at the conclusion of last week with this pressuring other major currencies like the Euro and British Pound. Part of the reason for the rebound in the Dollar was attributed towards encouraging inflation figures for the month [...]

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    Markets shrug dovish FOMC minutes

Markets shrug dovish FOMC minutes

The global markets were noticeably indifferent during trading on Wednesday evening despite the dovish slant to the FOMC meeting minutes which put an end to any remaining expectations of a US interest rate rise in March. Although the minutes echoed a tone of caution similar to Yellen’s testimony last week, the visible contradiction and divide within the Fed officials on [...]

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    No road back for the emerging market currencies

No road back for the emerging market currencies

The current outlook for the emerging market currencies is extremely weak and the chances are very limited for a meaningful, sustained comeback anytime soon. These currencies are finding themselves under repeated pressure from a variety of different directions with this including Dollar strength, extensive losses throughout the commodity markets, and continual concerns over the global economy with most headlines being [...]

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Exchange Rates

November 9, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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