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Forex Weekly Outlook August 22 – 26



Swiss Coins And Banknotes As The Swiss Franc Weakens Against Dollar

Global financial markets reacted to comments from US senior Fed officials last week, after a report shows a healthy manufacturing sector with 0.7 percent increase in industrial production and 0.5 percent surge in manufacturing output with a capacity utilization rate of 75.9 percent — the highest since December 2014.

Although, consumer prices came out flat at 0.0 percent as expected, building permits remained moderate with a resilient labor market (unemployment claims of 262,000). This week, investors are looking to an annual meeting of central bankers from around the world in Jackson Hole, Wyoming, at which Fed Chair Janet Yellen is scheduled to speak, for clues on the course of monetary policy. A hawkish outlook will strengthen the dollar as investors are expected to price in the likelihood that the Federal Reserve will raise interest rates in the second half of the year.

In the UK, the first full post-Brexit data shows retail sales jumped to 1.4 percent in July, indicating that low interest rates (0.25%), unemployment rate (4.9%) and inflation rate (0.6%) are supporting consumer spending against the widely predicted post-Brexit doom. Also, it is imperative to note that the drop in the pound exchange rate encouraged tourists to spend more, so it might be too early to decipher the improvement from the usual summer volatility – especially with a better weather like this year. The pound rose 0.9 percent against the US dollar to $1.3183 after the data was released, but quickly retreated following a surge in the odds of the Fed raising rates this year.

In Canada, retail sales plunged 0.1 percent in June to $44.1 billion, but few experts believed spending will rebound in the third quarter – mainly because of the child benefit for lower income and middle income partners due in July. Again, annual inflation rate fell below the Bank of Canada’s 2 percent target to 1.3 percent and short of 1.5 percent expected in July, as lower energy prices weighed on consumer prices and the struggling manufacturing sector. Overall, the Canadian economy is experiencing a lackluster growth, but the recent comments from Saudi Arabia’s Energy Minister Kahlid al-Falih has helped the commodity dependent economy/currency modulate part of its losses.

New Zealand continued to differ speculations even after inflation report disappointed. The economy added more jobs in the second quarter and reduced unemployment from 5.2 percent to 5.1 percent. Even though, the currency is yet to cap its gains so far, the strong US data released last week and the possibility of the Federal Reserve raising rates later in the year, may finally pave the way for the RBZN monetary expansion as explained last week and reinforce sellers’ interest, but a break of 0.6989 support will be needed to validate this bearish stance. Generally, New Zealand economy is solid, and one of the few with room for additional expansion if the need arises.

Australia added 26,200 jobs and reduced its unemployment rate by 0.1 percent to 5.7 percent in July. While the economy is far from its 2 percent inflation target, construction, tourism and education industries have helped keep its unemployment rate at a record low. This week, AUDUSD and EURAUD top my list.


For a while the Australian dollar has been overpriced, but yet continued to gain against the US dollar and its peers. Last week, sellers jumped on the pair immediately Fed officials signals possibility of the Federal Reserve raising rates later in the year, and break the ascending channel started on May 30. This week, if the markets continue to price in that possibility, the strong dollar will likely weigh on the pair and may finally give us 0.7505 as explained last week. I believe a technical break below the ascending channel should be enough to force traders to start pricing in the 25 basis points cut. This week, I am bearish on this pair as long as 0.7673 resistance holds.


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This pair has gained 487 pips since Aug 11th, and positioned for even more. Here is why I think this pair may offer buyers opportunity, the Euro-area has shown resilience since the U.K exit the European Union, and has complemented its moderate fundamental with strategic monetary policy. Another reason is the U.K post-Brexit retail sales report released last week, would likely reduce the heavy negativity surrounding the Brexit and boost the business activities of the Euro-area.


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Technically, after breaking 1.4665 resistance on Wednesday, the Thursday’s candlestick that closed as a bullish pin bar on the daily time frame was the first sign of bullish continuation. While the morning start pattern formed on weekly time frame validate this stance. This week, as long as 1.4665 support holds, I am bullish on this pair with 1.5008 as the target. Euro-area manufacturing PMI is due on Tuesday.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq,, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Dollar Hits Four-Month Low as Rate Cut Speculations Grow



Forex Weekly Outlook March 6 - 10

The US dollar extended its decline, reaching the lowest level since early August as swap traders increased bets on a Federal Reserve interest rate cut as early as May.

The Bloomberg Dollar Spot Index registered its fifth consecutive day of losses, reflecting concerns about a potential recession and dovish comments from the Fed that are prompting investors to speculate on a reversal of the central bank’s aggressive tightening cycle.

Global Head of Currency Strategy at Brown Brothers Harriman & Co., Win Thin, emphasized the dollar’s vulnerability, stating, “The dollar remains vulnerable until we see a shift in market expectations for the Fed, and that may be a 2024 story.”

He added, “With the dollar rally stalled, it will take some firm real sector data to challenge the current dovish Fed narrative.”

Amid these developments, the New Zealand dollar led gains among Group-of-10 peers, propelled by the central bank’s warning of potential rate hikes in the coming year.

Simultaneously, the Japanese yen strengthened to a two-month high as concerns about elevated US rates diminished.

The prevailing narrative suggests that unless there is a notable change in market expectations for the Fed, the dollar is likely to remain under pressure, with potential shifts anticipated in 2024.

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Black Market Exchange Rate Today 28th November 2023

What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of November 28th, 2023, the dollar to naira exchange rate is 1 USD to 1157 NGN at the black market.



New Naira notes

What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of November 28th, 2023, the dollar to naira exchange rate is 1 USD to 1157 NGN at the black market.

This means that for every one US dollar, you can exchange it for ₦1157, Investors King reports.

This digital business news platform has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

How Much is Dollar to Naira Today in the Black Market?

This rate is subject to change depending on a variety of factors including global economic trends, political developments, and market fluctuations. However, you can buy and sell 1 USD at ₦1157 and ₦1153 as of the time of writing today.

What is the current exchange rate of the dollar to naira in the black market today?

According to Investors King, as of the time this report was filed, a dollar can be purchased at the Lagos parallel market (black market) for ₦1157 and sold for ₦1153.

Exchange Rate of Dollar To Naira in Black Market Today?

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate 1153
Buying Rate 1157

Central Bank of Nigeria (CBN) Naira Exchange Rates for Banks

Investors King understands that although the dollar to naira opened at N1157 per $1 in the parallel market today, the Central Bank of Nigeria (CBN) does not acknowledge the parallel market, also referred to as the black market. The CBN has instructed individuals in need of forex to approach their bank as the I&E window is the sole recognized exchange.

On Tuesday, November 28th, 2023, individuals in the black market purchased one US dollar for N1157 and sold it for N1153. This shows that the value of the Naira declined when compared to Monday, November 27th, 2023 when the local currency was exchanged at N1155 to a Dollar and a Dollar was purchased at N1145.

To stay informed about the dollar to naira exchange rate, there are a number of reliable sources that you can turn to. Here are some tips for staying up-to-date:

  • Check the Central Bank of Nigeria’s website: The CBN is responsible for regulating the country’s monetary policy and is a reliable source for the latest exchange rates. You can check their website regularly for updates.
  • Follow financial news outlets: Financial news outlets such as Investors King, Bloomberg, Reuters, and CNBC provide regular updates on the global currency markets, including the dollar to naira exchange rate.
  • Use online currency converters: There are a number of online currency converters that allow you to quickly and easily check the exchange rate between the dollar and the naira.
  • Follow social media accounts of financial experts: Following social media accounts of financial experts such as analysts, economists, and financial advisors can give you valuable insights into the latest trends in the currency markets.

By staying informed about the dollar-to-naira exchange rate, you can make informed decisions when buying or selling foreign currencies. Whether you are a business owner looking to trade in foreign currencies or an individual looking to invest in the currency markets, knowledge of the latest exchange rates is key to success. Keep these tips in mind and stay informed about the latest trends in the global currency markets.

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Dollar Declines Amid Rising Optimism on Fed Rate Cut Prospects

Global Markets React to Growing Confidence in Fed’s Cautious Stance



U.S dollar - Investors King

The dollar faced a fourth consecutive day of decline, setting it on course for its worst month since November last year.

This trend is bolstered by increasing optimism among traders regarding the Federal Reserve’s trajectory toward rate cuts.

The South Korean won and Thai baht led the gains in Asia, with the won experiencing its most significant jump in almost two weeks.

Simultaneously, Treasuries stabilized after a previous rally, with yields on the two-year note, sensitive to the Fed’s rate path, hitting a one-week low.

The market sentiment reflects a broader positive outlook, with Wall Street forecasters becoming more upbeat about the prospects for the coming year.

Improved investor sentiment and reduced expectations of a recession have fueled this optimism, along with the belief that the Fed has completed its rate-hiking cycle, prompting a rally in the S&P 500.

Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, cautioned about the potential consequences of rate cuts, stating, “If the market is right in expecting that rate cuts could start maybe even at the end of the first quarter, in the first half, that would require to some degree a weaker economic and labor market backdrop than what we’re seeing right now.”

Despite the positive market sentiment, concerns about the economic and labor market backdrop persist.

The Bloomberg US Treasury Index has turned positive for the year, reflecting slowing inflation and measured job growth that triggered a rally and sent yields plummeting.

Traders are closely monitoring economic data this week, including the Fed’s preferred measure of underlying inflation.

Also, corporate earnings reports from prominent firms such as Crowdstrike Holdings Inc., Salesforce Inc., and Dell Technologies Inc. will provide insights into the evolving landscape of cybersecurity priorities and corporate expenditure.

The Fed’s expressed concern about inflation persisting above the 3% target adds a layer of complexity to the market’s reaction, as analysts anticipate potential pushback against implied easing and the recent rally in bonds and shares.

As investors navigate through these evolving dynamics, gold remains stable near its highest level since May, supported by lower Treasury yields and expectations of impending Fed interest rate cuts.

Meanwhile, oil prices extend their decline as the market weighs the possibility of deeper output cuts from OPEC+ against signs of supply outpacing demand.

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