Author: Julius Alagbe

South African Rand Trades Sideways as Risk Sentiment Improves The South African rand (ZAR) traded sideways on Friday, with improved global risk sentiment fueling the emerging markets currency rally. The market has seen a sharp slowdown in safe-haven demand as the US and Iran resumed negotiations on Middle East peace, with hopes that reopening a major shipping route will curb elevated energy prices. Hence, US dollar index momentum has slowed ahead of non-farm payroll data scheduled for release amidst stagflation concerns. Markets remain encouraged by easing concerns around major energy supply disruptions, although traders continue to monitor developments around the…

Global oil prices edge higher on Friday as uncertainty over the normalisation of shipping through the Strait of Hormuz fueled supply concerns in the Middle East.

The Nigerian naira declined against dominant Western currencies on Thursday amid record demand

Ripple (XRP) is down 3.04% to $1.03 on Thursday, widening the gap between the token market rate and the price target set by crypto traders.

Bitcoin (BTC) price declined 0.69% to $64,382.17, closely tracking a 0.71% drop …

Nigerian Stock Market Surges as Investors Gain N192bn The Nigerian stock market surged on Thursday as investors gained about N192 billion, extending the previous day’s decline on improved sentiment. The equities segment of the Nigerian Exchange closed trading activities on a positive note, with key market performance indicators rising by 0.12%, stockbrokers said. Despite the negative market breadth, the local bourse extended the positive momentum from the previous session, supported by sustained bargain hunting in medium- and large-cap stocks across key market sectors. The NGX All-Share Index climbed by 297.10 basis points in today’s trading session, reflecting a 0.12% increase…

Cardano Gains 10% on Inter-Blockchain Communication Launch Cardano (ADA) gained about 10% in 24 hours to $0.2052, significantly outperforming a nearly flat Bitcoin, primarily driven by a new cross-chain testnet connection with Injective. ADA rallied amidst ecosystem expansion via a new IBC testnet bridge to Injective, boosting interoperability and utility prospects. A formal Inter-Blockchain Communication (IBC) connection between Cardano and Injective launched on testnet on 6 August 2026. This creates the first live on-chain rail between the two ecosystems, allowing test transfers of ADA and INJ. The development is seen as a major step toward greater liquidity and DeFi utility.…

Risk-On: South African Rand Steadies Versus US Dollar The South African rand steadied against the US dollar, Euro, and Sterling as pressure on emerging market currencies eased amid risk-on sentiment in global markets. The US dollar index has broadly weakened as demand for safe-haven assets eased amid hopes of a resolution to the Middle East conflict. Oil prices were down, and yellow metals fluctuated as US-Iran peace talks reduced pressure from the global energy crisis and inflation concerns, and optimism about a Fed interest rate hike. In a brief, THE stockbroking and portfolio management subsidiary of First National Bank (FNB)…

Global equities markets were mixed as a hawkish statement from a Fed official rattled mega stocks

The naira slid by ₦1.30 to ₦1,363.85 at the Nigerian foreign exchange market …