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Africa is pioneering the adoption of digital currencies

Some caution is evident in the markets this morning through the Asian session, with US Treasuries climbing alongside JGBs as equities struggle for traction. Access to reliable and affordable digital infrastructure remains a challenge for many countri...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 28 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

Bank of Botswana tightens, African FX to remain vulnerable

The USD plunged on Thursday as central banks in Europe ramped up their monetary policy tightening, narrowing the interest rate differential between major European economies and the US. According to Achi, international donors including the World Bank,...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 17 June 2022

African Eurobond yields are above peak-2020 levels

The USD has continued to edge lower this morning as markets digest the Fed’s 75bps rate hike and the forward guidance provided by Powell in the press conference accompanying the rate decision. The May reading surpassed consensus expectations of a ris...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 16 June 2022

FOMC rate decision to steal the show, East African countries ramp up spending

The direction of the USD and currency markets will depend on tonight’s FOMC rate decision and the forward guidance provided in the policy statement. Given how much is riding on the outcome of the FOMC meeting, we expect trade conditions to be thin to...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 15 June 2022

Kenya cancels planned Eurobond issuance, Bitcoin plunges ahead of FOMC meeting

The USD has extended its gains from Friday’s session as investors continue to price for more aggressive Fed tightening following the higher-than-expected CPI print. The transaction is the first part of $2bn in syndicated loans that Ghana targets to r...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 13 June 2022