Tuesday, 25 June 2019

NIGERIA – WEEK AHEAD

naira notes pic pix image photo
Lukman Otunuga,
FXTM Research Analyst

Nigeria will unveil updates on its latest unemployment rate for Q1 and foreign exchange reserves for June in the week ahead, as the nation continues to diversify away from Oil reliance.

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

Investors will be paying very close attention to see whether unemployment dropped during the first quarter of 2019 and whether foreign exchange reserves gained during the month of June. Rising unemployment is likely to dent sentiment towards the Nigerian economy which in turn, may hit local stocks.

Are you tired of your dented car’s look? Is your vehicle losing shape and 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

Should the foreign exchange reserves scheduled for release on Friday exceed market expectations, this will be a welcome development for the Central Bank of Nigeria as more ammunition will be provided to shield the Naira from external shocks.

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

Other factors seen impacting the Naira this week will be geopolitical tensions in the Middle East, the pending G20 meeting and most importantly, the Dollar’s valuation. Rising Oil prices will translate to higher government revenues for Nigeria, while a positive outcome to the G20 meeting will be beneficial to global risk sentiment and emerging markets as a whole.

Have you ever imagines how the financial status of your company will grow when more than 20,000 CEOs and top managers of multinational companies pay for your products and services? For more information, click on the link below: http://www.tectono-business.com/2015/07/tectono-business-review-in-conjunction_21.html

With the Dollar weighed down heavily by speculation over the Federal Reserve cutting interest rates this year, the Naira has scope to gain ground.

No comments:

Post a comment