Weekly Market Insights: Global Trends and Local Implications
- Average system liquidity improved by 4.59% to N4.66 trillion, despite the CBN’s liquidity management operations, supported by sizeable maturities during the week.
- Looking ahead, only N673.92 billion is expected from maturing securities this week, significantly lower than the N3.17 trillion projected for last week. OMO maturities account for about 87% of the projected inflows.
- The naira appreciated by 0.97% in the NFEM market to N1,361.21/$, supported by improved FX supply and continued market stability, as market turnover improved by more
- than 100%.
- Oil prices rebounded by 1.94% to an average of $95.38/bbl, as concerns over supply disruptions outweighed demand concerns.
- Average external reserves increased by 1.06% to $49.92 billion, continuing the recent upward trend amid improved FX inflows and stronger reserve accretion.
- Across global markets, bond yields generally trended higher, particularly in Kenya, South Africa and the United Kingdom, as investors remained cautious over inflation and interest rate expectations.
