FXTM Research Analyst
It will be another
busy week for financial markets as investors grapple with trade tensions,
Brexit, depressed oil prices and concerns over slowing global growth. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
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The week kicks off with the US ISM
Manufacturing PMI for May which is projected to hit 53.0. Appetite for the
Dollar is likely to take another hit if the PMI figures fail to meet market
expectations. Investors will be paying very close attention to Fed Chair
Powell’s speech on Tuesday for fresh insight into the Fed’s monetary policy
path.
Investors will be
paying very close attention towards Powell’s tone, given how concerns are
rising over trade tensions potentially impacting the US economy. The biggest
event risks this week will be the European
Central Bank meeting and US jobs report on Friday. The Dollar could end up
depreciating further if the US jobs report disappoints and fuels speculation
over the Fed cutting interest rates this year. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html Naturally, this will be good news for
emerging market currencies with the Naira falling into the category.
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The economic calendar for Nigeria will
be relatively light this week with the Stanbic
IBTC Bank PMI scheduled for release on Thursday. Although the economic
docket is light, external factors in the form of trade tensions, the Dollar and
most importantly oil prices will impact sentiment towards the nation.
Fellow Nigerians, are you aware that our crude oil will soon become
useless? Yes, it will, in no distant time, become valueless owing to the fact
that the countries that rely on it as their only source of energy are
developing more affordable alternative sources of energy. When this finally
happens, what will we do? How are we currently preparing for this imminent
economic doom? Which other sector will continue to stabilize our economy?
Nigerians, the only solution is developing the agricultural sector. In fact, this
is the only solution. Very soon, the major source of revenue will become
agriculture and agro-exports. How are you positioning yourself to play big in
agro-export business? Why don’t you get a practical manual that explains the
stages of export trade from processing and packaging of commodities to receipt
of payment by the foreign buyers? Yes, arm yourself with the contemporary
trends in export trade. This manual explains export operations, export
management, export documentations and methods of payment in export trade? Yes,
it is a contemporary step-by-step guide to export trade. It tells all the
contemporary dynamics in export trade. To get it, click on this link: http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
Falling oil prices are set to place the
Nigerian economy in a difficult position. It is widely known that Nigeria
relies heavily on crude oil exports which account for over 90% of exports
earnings and over 70% of government revenues. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html A sharp decline in oil prices could
threaten Nigeria’s economic recovery while disrupting exchange rate stability.
The potential decline in foreign exchange reserves from lower oil is likely to
weaken the Naira consequently translating to rising inflationary pressures. http://www.tectono-business.com/2018/01/is-your-car-battered-and-disfigured.html Consumers and businesses will feel the
pain as inflationary pressures mount, while the drop in foreign reserves may
complicate the Central Bank of Nigeria’s
efforts to defend the Naira. For Nigeria to insulate itself against such
external risks, there needs to be a greater push on diversifying away from oil
reliance to other sustainable sources of economic growth with Agriculture being
one of several solutions.
Elsewhere, Gold is
glittering as geopolitical risk factors and concerns over slowing global growth
accelerate the flight to safety. http://www.tectono-business.com/2015/07/tectono-business-review-in-conjunction_21.html This precious metal has turned bullish
on the daily timeframe as is positioned to push higher should $1300 prove to be
reliable support. A vulnerable Dollar should inject bulls with enough
inspiration to push Gold towards $1324 in the short to medium term.
Do you want to be a non-oil
products exporter? You have to master the contemporary dynamics of non-oil
export trade and avoid getting defrauded by the foreign buyers of your
exportable products? Click on the link below: http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
Are
you tired of your car’s same old look? Is your vehicle losing shape &
colour? Do you desire your vehicle to look like a
brand new one? Then, it is the
right time to come to GOF Autos Limited for priming, panel
beating, painting (with Sikkens paint) and oven baking at rate of N70,000
for cars and N80,000 for SUVs. For details, click: http://www.tectono-business.com/2017/06/gof-autos-limited-best-automobile.html
Be a Landlord in Lagos by
acquiring plots and hectares of land @ Royalty Homes Estates in Lekki, Agbara,
Ikorodu and Mowe. Do not wait to buy. Rather, buy and wait. For details, click:
http://www.tectono-business.com/2019/06/be-landlord-in-lagos-by-acquiring-plots.html
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