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Africa and International Market Report: 03 February 2020
Africa and International Market Report: 03 February 2020

By - Jamel Lahiani

Posted - 04-02-2020

Last week, the major stocks index falls as a result of the coronavirus outbreak. In fact, the worldwide impact of coronavirus outbreak fuelled concerns about global growth. In addition, the sluggish US economic data and a mixed batch of corporate earnings tackled the US stocks market. This leading, the US dollar to decline face the major currencies especially: Euro, Yen and the British pound, and a fall in the headstocks market: Dow Jones, DAX30 and Nikkei 225 by respectively -2.09%,-4.35% and -2.61%.

On the other side, the Bitcoin price realized a positive performance by increasing 8.6% face to the US dollar. Bitcoin was fluctuating around 9329.39 US dollars. In African currency markets, The Nigerian NAIRA recognized a tight variation and closed the week at 359.00 face to the US dollar but the South Africa ZAR was depreciated face to the US dollar by 4.21% and closed last week at 14.98920 US dollar.

The commodities market was characterized by the Crude oil price falls by – -4.75%, ending last week at 51.589 US dollars as the World Health Organization declared the China coronavirus a global emergency.

The last week main markets prices and variations

Market in Focus: 03 February – 07 February 2020
We have a list of high impact events this week. The publication of the events can leads to a strong movement or a trend for the related currencies. The discussion of the events impacts will be done within the daily FOREX report.

The publications that have a very significant theoretic impact are:

  • USD: The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector it is a significant indicator of the overall economic condition in US. ”Monday”.
  • USD: The Goods Trade Balance released by the US Bureau of Economic Analysis and the U.S. Census Bureau is the difference in value between imported and exported goods during a certain month. “Wednesday”.
  • EUR: ECB’s President Lagarde speech. ”Thursday”.
  • CAD: The Unemployment Rate released by the Statistics Canada is the number of unemployed workers divided by the total civilian labor force. ”Friday”.
  • USD: The nonfarm payrolls released by the US Bureau of Labor Statistics presents the number of new jobs created during the previous month, in all non- agricultural business. “Friday”.
  • USD: The Average Hourly Earning released by the US Bureau of Labor Statistics is a significant indicator of labor cost inflation and of the tightness of labor markets. ”Friday”.

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