- Central Bank Reduces Interest Rate to 23%
- Nigerian Exchange Gains N297bn as Banking Index Drives Momentum
- Pi Network Climbs on Onboarding Progress, Protocol Upgrade
- Nearly 60% of US Adults Can’t Cover a $1K Emergency Expense – Report
- CBN Cuts Interest Rate by 3.50% as Monetary Easing Begins
- NVIDIA Tokenised bStocks Rises on Holders’ 5x Leverage Boosts Bets
- Chief Economists Expect Global Economy to Stabilise
- Ethereum Tops $2.74K as Binance ETH Withdrawal Hits 3Y High
Author: Julius Alagbe
Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.
Bitcoin (BTC) price rose 5.30% to $68,102.19 on Wednesday, outperforming the broader market rally and showing a strong correlation with Gold, suggesting a macro-driven move.
Ripple (XRP) gained 6% in 24 hours to $1.06 on Wednesday, slightly outperforming Bitcoin, primarily driven by a combination of positive company news and a strong market-wide rally.
South African Rand Firmer as Markets Anticipate US to Keep Rates The South African rand is marginally firmer on Wednesday as markets price in the expectation that the US Federal Reserve will keep interest rates unchanged at its next Federal Open Market Committee (FOMC) meeting. The sovereign unit is trading at R16.25 per dollar, R18.82 per euro and R21.99 per pound, according to a market brief released by South African First National Bank (FNB) on Wednesday. The dollar index edged lower as softer US economic data continues to weigh on the dollar and reinforce expectations that the Federal Reserve will…
The average yield on Nigerian Treasury bills fell slightly as investors increased bets on the naira asset in the secondary market following a disinflation-driven boost to real returns.
NVIDIA Tokenised bStock Falls as Investors Chase US Yields NVIDIA Tokenised bStock (NVDAB) price is down 2.58% to $219.26 over the past 24 hours, underperforming a slightly positive crypto market. The drop is primarily driven by a decline in the underlying Nvidia (NVDA) stock, which fell around 2% on August 18 amid a broader tech selloff triggered by rising Treasury yields. The price of NVDAB, a synthetic token tracking Nvidia’s stock, fell in sync with a 2% drop in NVDA shares. This decline was part of a sector-wide tech sell-off, with the Philadelphia Semiconductor Index tumbling 3.7% as rising long-term…
The Nigerian naira appreciated to N1,343 against the US dollar on Tuesday, as the currency continued to gain momentum in the foreign exchange market.
Profit-taking in shares of top big banks knocked about N545 billion off the Nigerian Exchange (NGX) equities market capitalisation, marking the sixth consecutive downturn since last week.
South African Rand Weakens Ahead of Bonds Auction South African rand weakened marginally on Tuesday despite continued pressure on the US dollar. The rising energy crisis has stoked inflationary pressures, which are anticipated to drive global interest rate hikes. On Tuesday, the South African local currency, the rand, is trading at R16.25 per dollar, R18.81 per euro, and R22.00 per British pound, said the stockbroking and portfolio management subsidiary of First National Bank (FNB) in a brief. Softer US economic data last week, including weaker retail sales, employment and inflation readings, have reinforced expectations that the Federal Reserve will keep…
Nigeria’s sovereign Eurobonds faced selling pressure in the international market as foreign portfolio investors continue to pile into US Treasuries amid elevated yields.
The average yield on Nigerian Treasury bills increased as investors trimmed positions in the secondary market amid sustained deceleration in inflation.