Stock QuotesEurobonds ($)
NIGERIAN EUROBONDS March 16  20215.625% US$300M JUN 2022-103.962/2.446%,  6.375% US$500M JUL 2023– 108.337/2.639%, 7.625% US$1.118BN NOV 2025– 114.581/4.159%,  6.500% US$1.5BN NOV 2027– 106.967/5.250, 7.143% US$1.25BN FEB 2030 – 105.897/6.270%, 8.747% US$1.0BN JAN 2031 – 115.122/6.629%,  7.875% $1.50BN Feb 2032 – 108.095/6.810%, 7.696% $1.25BN Feb 2038 – 103.337 /7.347%,  7.625% $1.50BN Nov 2047 – 102.298 /7.425%, 9.248% $750M Jan 2049 – 115.726/7.848%.
Business Finance Info & Updates

Dollar firm as markets wary over rising MidEast tensions, wait for Fed

The dollar stood tall against other major currencies on Tuesday as geopolitical risks encouraged investors to flock to the relative safe-appeal of the greenback before a U.S. central bank policy meeting this week, where a rate cut is widely expected.

Though oil prices pulled back slightly after surging to four-month highs on Monday, they remained about 15 per cent higher than Friday’s close as markets remain wary over the threat of a military response to attacks on Saudi Arabian crude oil facilities.

“The dollar is in demand as risk sentiment remains weak and it will be difficult for the Fed to overcome already dovish market expectations,” said Manuel Oliveri, an FX strategist at Credit Agricole in London.

Traders widely expect the Fed will cut interest rates by a quarter of a percentage point on Wednesday, and one more cut is largely priced in before the end of 2019.

Against a basket of its rivals, the greenback edged up 0.1 per cent to 98.66, heading towards a more than a two-year high of 99.37 earlier this month.

The Australian dollar led losers, falling 0.5% after the Reserve Bank of Australia flagged an easing bias in meeting minutes.

“They no longer talk about an accumulation of evidence in order to ease again, and highlight risks to the global economy,” said National Australia Bank Senior FX Strategist Rodrigo Catril. “It certainly sounds a lot more dovish than before.”

Read Also:  Nigeria is the only producer of high-voltage cables in West Africa

The drop in the Aussie also pulled the kiwi lower, with the New Zealand dollar weakening 0.4 per cent. against the greenback.

The dollar’s gains were also bolstered by an overnight spike in dollar funding costs.

The overnight rate in the repurchase agreement (repo) market jumped to 4.10 per cent from 2.29 per cent late on Friday, its highest levels are seen since the start of the year. Analysts attributed the rise to quarterly federal tax payments and supplies.

Leave a Reply

Your email address will not be published. Required fields are marked *

CAPTCHA ImageChange Image