Mid-Week Market Review: January 2025, Edition 3
Commodities Oil prices closed lower on Friday, reflecting growing concerns over potential disruptions in global supply, particularly following the recent sanctions imposed by the US on Russia’s energy sector. Brent crude futures slipped to $80.79 from the previous day’s $81.29, while US WTI crude also dropped to $77.39 from $77.85. On Monday, Brent opened at […]
Weekly Market Review: January 2025, Edition 3
Prologue As Nigeria gradually settles into the year 2025, the financial markets are at a critical juncture, shaped by record inflation, elevated interest rates, and an evolving macroeconomic landscape. With inflation climbing to an all-time high of 34.80% in December 2024—contrary to expectations of a slight decline—individuals and businesses alike are keenly observing how monetary […]
Mid-Week Market Review: January 2025, Edition 2
Commodities Oil prices surged by nearly 3% last Friday, hitting a three-month peak, following new sanctions imposed by President Joe Biden’s administration on key elements of Russia’s energy sector. These sanctions target oil producers, tankers, traders, intermediaries, and Russian ports. Brent crude futures climbed by 3.05%, closing at $79.45 per barrel, briefly surpassing the $80 […]
Weekly Market Review: January 2024, Edition 2
Prologue As the financial markets anticipate the release of Nigeria’s inflation report for December 2024, there is a growing discourse on how this data may shape the Central Bank of Nigeria’s (CBN) policy direction at the forthcoming Monetary Policy Committee (MPC) meeting (scheduled for 27th and 28th of January 2025). Given the delicate state of […]
Mid-Week Market Review: January 2025, Edition 1
Commodities Crude oil prices saw a notable increase today, following the release of production data from OPEC and Russia, both of which revealed declines in output for December. Another contributing factor to the rise was the U.S. employment report, which highlighted a low rate of layoffs and an increase in job openings, signaling a robust […]
Weekly Market Review: December 2024, Edition 5
Prologue As inflation continues to present a persistent and formidable challenge in Nigeria, analysts suggest that the Federal Government could potentially achieve a return to single-digit inflation in the upcoming year. However, this would be contingent upon attracting a significant influx of Foreign Direct Investments (FDIs) into the country. One particularly optimistic proposal highlights that […]
Weekly Market Review: December 2024, Edition 4
Prologue The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) was without a doubt the most impactful decision maker for the Nigerian economy in 2024. At all its meetings this year, the Monetary Policy Rate (MPR) was hiked along with several adjustments to other monetary policy tools (including the Cash Reserve Ratio […]
Mid-Week Market Review: December 2024, Edition 3
Commodities Oil prices experienced a significant pullback on Tuesday, reaching their lowest levels in a week, driven by concerns over global demand. The downward pressure was amplified by disappointing economic data from Germany and China, two major players in the global economy. Brent crude futures dropped to $73.32 per barrel, while West Texas Intermediate (WTI) […]
Weekly Market Review: December 2024, Edition 3
Prologue Nigeria’s monetary authorities have gone far and beyond to address the country’s inflation and foreign exchange problems and, thankfully, positive results have started to show. The Monetary Policy Rate (MPR) has been pushed up a whole 875 basis points since the start of 2024 along with many complementing measures that have been instituted to […]
Mid-Week Market Review: December 2024, Edition 2
Commodities Contrary to overall expectations, oil markets have witnessed an uptick in prices over the last week, specifically escalated in the last 2 days. (WTI inched up from $68.623 to $70.18, and Brent climbed from $72.37 to $ $73.46, both at the time of publication). Despite broad concerns about global supply outweighing demand reinforced by […]
