Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Currencies

US inflation pushes the dollar to new highs 

Ubah Jeremiah Ifeanyi by Ubah Jeremiah Ifeanyi
May 12, 2022
in Currencies
US inflation pushes the dollar to new highs 
Share on FacebookShare on TwitterShare on Linkedin

The US April CPI statistics disappointed those hoping for a summary execution of the high inflation. However, while inflation is reducing, it is not declining at the rate that most people expect.

As a result, the US Dollar Index (DXY), which tracks the dollar against a basket of major rivals, intensified its rise and achieved fresh cycle highs near 104.55.

RelatedPosts

Exchange rate appreciates at I&E window as forex supply rises to 3-week high 

High oil prices present Nigeria’s central bank with a chance to adjust the exchange rate – World Bank

The index picks up the extra pace and extends the rally to levels last seen in December 2002 to around 104.40/50 against the backdrop of rising risk sensitivity in the global markets, plus the higher than expected inflation.

Even though the consumer price index declined for the first time in eight months; a step down from the 8.5% gain in March, it was somewhat higher than FT economists’ predictions of an 8.1% rise

What you should know 

US inflation dipped marginally to 8.3% in April but stayed close to March’s 40-year high of 8.5%, underscoring the urgency of the Federal Reserve’s push to stamp out inflation.

  • As a result, the Federal Reserve has increased its efforts to control pricing pressures, hiking interest rates for the first time in almost two decades this month.
  • By the end of the year, the federal funds rate is forecast to rise considerably more, with increases in June and July and potentially in September.
  • The US hawkishness, on the other hand, comes at a particularly bad time for Nigeria since the result might further weaken the Naira, raise export costs, make the debt more expensive, and boost inflation.
  • Another consequence of the strengthening dollar is that emerging market economies will have to pay a higher interest rate to entice investors to acquire dollar-denominated bonds issued by EM sovereigns and corporations.

Nigeria has been removed from JPMorgan’s list of developing market sovereign recommendations that investors should be ‘overweight’ in. JPMorgan downgraded Nigeria to marketweight from overweight, indicating that the bank wants customers to reduce some risks.

Related

Tags: InflationUS Dollar

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Hot forex
Cornerstone
Mega Millions
Polaris Bank
Eco Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Nigeria leads Rest of Africa in MultiChoice subscription revenue
    • Two decisions Buhari needs to make to rescue his legacy on the Nigerian economy
    • NAFDAC raises alarm over banned European cosmetic product, Placentyne Hair Lotion in Nigeria

    Follow us on social media:

    Recent News

    Nigeria leads Rest of Africa in MultiChoice subscription revenue

    Nigeria leads Rest of Africa in MultiChoice subscription revenue

    June 26, 2022
    Buhari requests Senate approval on ICPC and RMAFC commissioners’ appointment

    Two decisions Buhari needs to make to rescue his legacy on the Nigerian economy

    June 26, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com