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Africa and International Market Report: 20 January 2020
Africa and International Market Report: 20 January 2020

By - Jamel Lahiani

Posted - 20-01-2020

Last week, the US-Iranian tensions passed without any impacts on the markets, the two sides preferred not going for more hostilities. Wall Street ended the week by recording a positive variation of 1.82%. In fact, the advancement in the US-China trade deal and the good performance of the US retail sales index fueled the US stocks indexes to the upside. As a result, the US dollar was appreciated against the Yen and the British pound by respectively 0.4% and 0.6% but stabilized face to the Euro at 1.10880.

On the other side, the Bitcoin price realized a positive performance for the second week successively by increasing 5.15% faces to the US dollar. Bitcoin seems to have an upward movement and looking for more jump face to the US dollar and exceeding 8622.99 US dollars. In African currency markets, The
Nigerian NAIRA recognized stability at 359.00 faces to the US dollar with low variations but the South Africa ZAR depreciates faces to the US dollar by -0.58% and ended last week at 14.44749 US dollar.

The commodities markets were characterized by a fall of Crude oil prices for the second week by -0.71%, ending at 58.74 US dollars. In fact, no more hostility related to US-Iranian tensions leading Investor’s demands oriented to stocks and indexes, explained by a good performance of the US and China retail sales.

The last week main markets prices and variations

Market in Focus: 20 January – 24 January 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 Initial Jobless Claims released by the US Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance. ”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”.
  • USD: The Existing Home Sales, released by the National Association of Realtors provide an estimated value of housing market conditions. As the housing market is considered as a sensitive factor to the US economy, it generates some volatility for the USD. “Wednesday”.
  • EUR: The PMI monthly Composite Reports on Manufacturing and Services, released by Markit Economics, are based on a large number of business executives in private sector manufacturing and services companies. “Friday”.
  • GBP: The ILO Unemployment Rate released by the National Statistics is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the UK Economy. ”Tuesday”.

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