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Africa and International Market Report: 16 December 2019
Africa and International Market Report: 16 December 2019

By - Jamel Lahiani

Posted - 16-12-2019

Wall Street ended the week by recording positive variation of 0.43%. In fact, the investors are eases by news that the US had reached a deal in principle with China to resolve a trade war that has rattled markets for nearly two years. Concerning currencies, the British election has positive impact to the GBP that wins 1.5% face to the US dollar. The US dollar loses face to the Euro 0.57% and wins face to Japanese Yen 0.7%. In the other side, the Bitcoin price realized a negative performance by decreasing -5.44% faces to the US dollar. In African currency markets, The Nigerian (NAIRA) was stable with 360.00 as parity face to the US dollar but the (South Africa) ZAR appreciates faces to the US dollar by 0.52%.

The commodities markets were characterized by an increase of gold price face to the US dollar by 1.09% and an increase of the Crude oil price for the second week by 1.11% to record a level of 59.768 US dollar.

The last week main markets prices and variations

Market in Focus: 16 December – 21 December 2019
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 theatricals impact are:
    GBP: The PMI service released by both the Chartered Institute of Purchasing & Supply and the Mark it Economics is an indicator of the economic situation in the UK services sector ”Monday”.
  • USD: JOLTS Job Openings is a survey done by the US Bureau of Labor Statistics to help measure job vacancies. It collects data from employers including retailers, manufacturers and different offices each month “Tuesday”.
  • EUR: ECB’s President Lagarde speech ”Wednesday”.
  • JPY: Kuroda, BoJ’s governor, will give a press conference in order to communicate with investors regarding monetary policy ”Thursday”.
  • GBP: The Monetary Policy Summary, released by BOE, contains the outcome of their vote on interest rates and other policy measures, along with commentary about the economic conditions that influenced their votes. Most importantly, it discusses the economic outlook and offers clues on the outcome of future votes ”Thursday”.
  • CAD: The Retail Sales released by the Statistics Canada is a monthly data that shows all goods sold by retailers based on a sampling of retail stores of different types and sizes ”Friday”.

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