- Oil Tops $90 as Iran Retaliates Against U.S. Strikes
- Global Equities Markets Open Bearish over Fed Hawkish Tone
- Moody’s Changes Nigeria’s Credit Rating Outlook to Positive
- Investors Trim Nigerian Bond Holdings Over Shrinking Rates
- Money Market Liquidity Tightens as CBN Steps Up OMO Actions
- XRP Falls as Ripple Prime Opens Wall Street Swap Desk
- Cardano Price Falls to $0.20 on Altcoin Sell Pressure
- Fitch Affirms France at ‘A+’ with Stable Outlook
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.
The South African rand is trading flat against crosses on Monday as a surprise US May jobs report fueled a broad dollar rally and crushed emerging-market currencies.
Zcash (ZEC) price rose by about 20% to $427.50, sharply outperforming a modest market-wide rise, primarily driven by restored confidence following the patch of a critical bug.
Ethereum price (ETHUSD) increased by 5% to $1,628, outperforming a broader market rebound, primarily driven by a short squeeze after an extreme sell-off. Dip buyers stepped up at the extremely depressed price of $1.5k after sustained sell pressure.
Nigeria’s foreign reserves topped $50 billion in the first week of June due to sustained FX receipts across key sources, data from the Central Bank of Nigeria (CBN) revealed.
Abbey Mortgage Bank Plc soared by more than 47% in 5 days as investors increased bets on the Nigerian lender following the announcement of Central Bank (CBN) regional licence approval last week.
Hyperliquid (HYPEUSD) declined by 6% to $56.87, underperforming a broader market that was also declining, primarily driven by a major scheduled token unlock.
The crypto market capitalisation plunged to $2.1 trillion over 24 hours, primarily driven by a massive cascade of liquidations that amplified selling pressure.
Ripple (XRP) price declined 5% to $1.07 during the early trading session on Saturday, underperforming a broadly weak crypto market primarily driven by whale distribution colliding with persistent U.S. regulatory uncertainty.
The naira softened against the US dollar as international payments outweighed FX liquidity at the Nigeria Foreign Exchange Market (NFEM) on Friday, according to an official report from the authority.
Ethereum price (ETHUSD) dropped by about 10% in 24 hours to $1,598.17, underperforming Bitcoin’s 3.92% drop, primarily driven by a cascade of leveraged long liquidations amid a broad altcoin market crash.