Friday, 18 July 2014

FEATURE : The Hedge And Risk Financial Market Report (8)

Hello Lovelies! Still concerned about the reality of what could be happening to your investments and Finances? Well, Get your fix of Today's Sponsored Feature.....The Hedge And Risk Financial Market Report For Thursday July 17, 2014

LOCAL NEWS 

The inability of Economic Community of West African States (ECOWAS) to again implement a single monetary union next year as earlier planned has been attributed to the failure of member nations to meet the convergence criteria, which has necessitated the ECOWAS Authority Commission to once again shift the new implementation timeline to year 2020. The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele and the Director General of the West African Monetary Institute (WAMI), Dr. Abwakwu Englama, both declared this on Thursday in Abuja, while addressing the 31st Meeting of the Committee of Governors of Central Banks ECOWAS member states that have been attempting to establish a single monetary union, known as the West African Monetary Zone (WAMZ) since 1990. (Source: Guardian)

MARKET UPDATES

Money Market 

With OMO maturities in excess of NGN114 billion improving system liquidity, NIBOR declined for the first time this week, with the Overnight rate dipping 25bps to close at 10.71%. 

Fixed Income Market

Buoyed by liquidity, demand increased in the T-bills market with compression in yields observed across most bills. Investor demand was evident across short to mid-tenor papers. With settlement for Wednesday’s auction and RDAS expected on Friday (about NGN145 billion) demand momentum will likely soften in the T-bills market.
Trading in the bond market was relatively subdued, with activities still weighted on the short end of the curve amid expectations of an adjustment in yields towards Wednesday’s bond auction stop rates.

The Nigerian Interbank FX Market

Amid lower dollar demand, the naira strengthened against the dollar, appreciating 10 kobo to close at NGN161.80/$.

Nigerian Stock Market Report 

Nigerian equities market closed on a negative note on Thursday, as the Nigerian Stock Exchange All Share Index (NSE ASI) depreciated by 0.26% to close at 42,918.52 points, compared with the appreciation of 0.14% recorded on Wednesday. Similarly, the Market Capitalization depreciated by 0.26% to close at NGN14.171 trillion, compared with the appreciation of 0.14% recorded on Wednesday to close at NGN14.208 trillion.

INTERNATIONAL NEWS

A Malaysia Airlines plane carrying 283 passengers and 15 crew crashed Thursday in the battle-torn east Ukraine region of Donetsk, where U.S. intelligence agencies say it was struck by a ground-to-air missile. The U.S. agencies are divided over whether the missile was launched by the Russian military or by pro-Russia separatist rebels, who officials say lack the expertise on their own to bring down a commercial airline in midflight. The disaster comes as a new trauma for Malaysia Airlines, the carrier already at the center of a global mystery over the disappearance in March of one of its flights, another Boeing 777 that went missing en route from Kuala Lumpur to Beijing.

Global Currency Update

The dollar maintained a firm ton against the euro but softened against the yen, and was mixed against the Australian dollar on Thursday. The euro traded at $1.3519 late Thursday, little changed from $1.3528 late Wednesday. The dollar fell to ¥101.23 from ¥101.64 Wednesday. The pound slipped to $1.7092 from $1.7139 late Wednesday, while the Australian dollar dipped to 0.9346 U.S. cents from 0.9365 U.S. cents. 

Commodity Market

U.S. crude oil jumped by as much as $2 Thursday after a Malaysian airliner crashed over eastern Ukraine on the heels of fresh U.S. sanctions on Russia that had raised geopolitical concerns.

Gold ended the trading session above $1,315 an ounce Thursday on heightened geopolitical tensions and news of more U.S. sanctions against Russia.

Hope you found today's financial report somewhat useful.

Enjoy Your Friday Lovelies! Kisses!

Like ME On Facebook

BRAG Winter 2016

BRAG Winter 2016
Click To Get Your Copy..

Watch 'BETWEEN' Teaser Trailer

Watch 'BETWEEN' Teaser Trailer
Click To Watch First Official Trailer Starring Actress, Stella Damasus & Directed by Daniel Adenimokan

Follow My Posts On Facebook

Click To Partner With Me

Join My Support Community

Get The Naked Truth

Get The Naked Truth
A Witty Intimate Book That Offers Wisdom on Love, Life, Sex & Re-invention of Self

Catch My Radio Show Everywhere

Catch My Radio Show Everywhere
Click to Listen to The Best In Authentic Conversations

Get My NAKED Weekly

Get My NAKED Weekly
Click to Sign Up for My Weekly Updates & Monthly Love Letters

The Hair'volution Magazine

The Hair'volution Magazine
Give Your Hair A Voice

Read ME On Huffington Post

Read ME On Huffington Post
Click To Read New Articles There Every Monday

Find Out What People #AskAlex

Got A Question? #AskAlex

The Naked Talk Online Radio Show

Learn More About Me?

Learn More About Me?
Click To Visit My Official Website