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Relative bond attractiveness in focus, bond outflows weigh on Egyptian pound

It appears that bond markets are pricing in major central bankers slowly winning the fight against inflation and inflation expectations. Democratic Republic of Congo: The World Bank has approved $750mn in funding for the DRC, including its first dire...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 30 June 2022

Africa’s bond market is dominated by South Africa, Egypt and Nigeria

Oil prices rallied for a third straight session yesterday but are on the defensive this morning as the focus is shifting back towards the weaker growth narrative. South Africa's refinery capacity has faced several challenges, such as unplanned closur...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 29 June 2022

Current account dynamics are playing a key role in African currency movements

Current account dynamics are more important than ever for African currency traders. The opposite also holds true. The Russia-Ukraine war has resulted in global trade decelerations and rising commodity prices, all of which affect countries in the regi...
ETM Analytics Alexa
Alexa Archibald @ ETM Analytics 22 June 2022

World Bank urges Nigeria to implement a more flexible FX system

The USD has regained its footing this morning, paring back almost all of yesterday’s losses after more hawkish Fed speak overnight. According to the World Bank, oil prices being the highest in nine years provides Nigeria with an opportunity to adjust...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 22 June 2022

Surging dollar inflicts more pain, African markets are becoming more integrated

A surging USD caused more bloodshed across global currency markets yesterday as traders brace themselves for the potential of an outsized rate hike this week. Egypt: Finance Minister Mohammed Maait has noted that high oil and wheat prices will cost E...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 14 June 2022

African central banks pivot as inflation pressures mount

There has been a considerable shift in monetary policy from major African central banks over the past couple of weeks as inflation pressures persist. The tightening implemented by the CBE shows that policymakers are looking to reverse the decline in ...
ETM Analytics Takudzwa
Takudzwa Ndawona @ ETM Analytics 8 June 2022