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Africa and International Market Report: 27 April 2020
Africa and International Market Report: 27 April 2020
Posted

By - Jamel Lahiani

Posted - 27-04-2020

Wall Street has passed a turbulent week of trading and finished with a small decline of -0.45 percent largely impacted by the historic collapse in oil prices. While some US states prepared to relax coronavirus-related lockdowns.

New York, Brussels, and Beijing pledged for more support to shore up their economies and restart after weeks of lockdown. This could have a positive impact on stocks and share around the world but concerns still existent about the persistence of the outbreak and the results of the tests of new vaccines for COVID-19. This leading the decline of the mean stocks indexes, with a weekly loss of -1.93 percent for Dow Jones, -3.2 percent for Nikkei, and -2.14 percent for DAX30.

The EU leaders approved during last week an immediate rescue package of about 500 billion euros but left the divisive details of a bigger fund until the summer. They rallied around a larger common budget with a recovery program and tasked the European Commission to present detailed proposals by 6 May.

The travel and leisure led losses among major stocks market, while the food industry was the biggest winner after reporting strong first-quarter results on pandemic induced panic buying of food products as well as pain and fever medicines.

Georgia became the first state to push ahead with its plan to allow an array of small businesses to reopen on Friday despite disapproval from President Donald Trump and health experts. While the expert Eric
Freedman, chief investment officer at US Bank Wealth Management in North Carolina considers resuming normal economic activity may not happen for months.

The Bitcoin (BTC/USD) price appreciate last week by 8.07 percent and fluctuating around $7701.73 showing more confidence by the investors and traders about the Bitcoin money that is strongly demanded with limited offer.

In African currency markets, The Nigerian NAIRA was exchanged at 388.00 US dollars. The South Africa ZAR depreciated faces to the US dollar by 1.53 percent and ending last week at 19262.00 US dollars.

The last week main markets prices and variations

Market

Market in Focus: 27 April – 01 Mai 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:
JPY: Kuroda, BoJ’s governor, will give a press conference in order to communicate with investors regarding monetary policy. He talks about the factors that affected the most recent interest rate decision, the overall economic outlook, inflation, and clues regarding future monetary policy. “Monday”.

EUR: The bank lending survey (BLS) for the euro area was launched in 2003. Its main objective is to enhance the Eurosystem’s knowledge of financing conditions in the euro area. ”Tuesday”.

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.” Tuesday”.

EUR: HICP is an index of consumer prices calculated and published by Destatis, the Statistical Office of the European Union, on the basis of a statistical methodology that has been harmonized across all EU member states. ”Wednesday”.

USD: The Gross Domestic Product Annualized released by the US Bureau of Economic Analysis shows the monetary value of all the goods, services and structures produced within a country in a given period of time.” Wednesday”.

USD: The FOMC press conference is about an hour long and has 2 parts – first a prepared statement is read, then the conference is open to press questions. The questions often lead to unscripted answers that create heavy market volatility. ” Wednesday”.

EUR: Following the ECB ́s economic policy decision, the ECB President gives a press conference regarding monetary policy. His comments may influence the volatility of EUR and determine a short-term positive or negative trend.  ”Thursday”.

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”.

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. ” Friday”.

Market

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