How CBN rate cut is likely to affect the naira

by Nigerian Oracle - March 28, 20190

Analysts and market-watchers were, in no doubt, shocked when the monetary policy committee of the Central Bank of Nigeria announced its decision to cut interest rate by 0.5% on Tuesday. The post How CBN rate cut is likely to affect the naira appeared first on TheCable.

Poll shift: Investors lose N196bn in five hours

by Nigerian Oracle - February 18, 20190

Investors on the Nigerian Stock Exchange lost N196 billion on Monday due to profit-taking activities during the five hours of trading on the bourse. The All-Share index, which opened at The post Poll shift: Investors lose N196bn in five hours appeared first on TheCable.

Oil prices ‘may hinder naira’ from benefits of weak dollar

by Nigerian Oracle - November 29, 20180

Lukman Otunuga, FXTM research analyst, says the naira will not benefit from a weakening dollar if oil prices keep declining at an alarming rate. The dollar dropped into the negative The post Oil prices ‘may hinder naira’ from benefits of weak dollar appeared first on TheCable.

Otunuga: Defending the naira may become a headache for CBN

by Nigerian Oracle - November 12, 20180

Lukman Otunuga, FXTM research analyst, says the Central Bank of Nigeria (CBN) may find it hard to defend the naira against an appreciating dollar, regardless of its resilience. The naira The post Otunuga: Defending the naira may become a headache for CBN appeared first on TheCable.

Otunuga: Nigeria may experience Q3 growth — despite IMF’s gloomy prediction

by Nigerian Oracle - October 12, 20180

Lukman Otunuga, research analyst at FXTM, a firm which specialises in forex trading, says Nigeria may experience growth in the third quarter of the year, despite “gloomy predictions” made by The post Otunuga: Nigeria may experience Q3 growth — despite IMF’s gloomy prediction appeared first on TheCable.

INTERVIEW: Why CBN can’t cut interest rates now, by Lukman Otunuga

by Nigerian Oracle - September 17, 20180

The monetary policy committee of the Central Bank of Nigeria has kept interest rate at 14% for two years. Analysts and businesses alike have expected that the committee to cut The post INTERVIEW: Why CBN can’t cut interest rates now, by Lukman Otunuga appeared first on TheCable.

Global stocks crumble on risk aversion, Pound higher

by Nigerian Oracle - April 3, 20180

Investors have entered the second trading quarter of 2018 on a mission to avoid riskier assets amid the escalating trade tensions between the US and China. After global equities experienced The post Global stocks crumble on risk aversion, Pound higher appeared first on TheCable.

Nigeria squares up to economic woes

by Nigerian Oracle - March 2, 20180

Confidence over the recovery of Nigeria’s economy received a welcome boost in February. Official reports illustrated the nation’s economy roaring back to life last year, after encountering its first recession The post Nigeria squares up to economic woes appeared first on TheCable.

Dollar finds a friend in Powell as global stocks slip

by Nigerian Oracle - February 28, 20180

Dollar bulls were injected with a renewed sense of confidence on Tuesday after Federal Reserve chairman, Jerome Powell, struck a careful but fairly upbeat tone during his congressional testimony. Powell The post Dollar finds a friend in Powell as global stocks slip appeared first on TheCable.