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Forex Weekly Outlook December 18-22



U.S dollar - Investors King
  • Forex Weekly Outlook December 18-22

The ongoing U.S. tax reform continued to dictate global financial markets. However, with the reform likely to go through this week, the U.S. dollar is poised for a substantial gain against most currencies. Especially after the Reserve Bank raised interest rates by 25 basis points last week as projected and the economy continued to create jobs with further improvement of 3.9 percent unemployment rate projected for 2018.

But with the consumer prices and wage growth below expectations, the central bank may be compelled to review its policy stance in 2018 and not expect tightening labor market to eventually boost wage growth.

In the UK, the consumer prices rose to 3.1 percent, higher than the expected 3.0 percent while wages climbed 0.2 percent in the three months through October, suggesting that the weak pound sterling and the uncertainties surrounding the Brexit negotiation are weighing on prices in the U.K. and subsequently impacting the economic growth. Also, the while manufacturing surged on growing overseas orders in October, activities in the services sector slowed in the month. Services sector contribute about 80 percent of the total U.K. economy.

Here is our weekly pick, EURUSD, AUDUSD, CADJPY GBPUSD and EURNZD.


The lack of monetary direction from the European Central Bank impacted the Euro outlook, especially the decision of the central bank to maintain record-low interest rates even with growing economy.

However, the US dollar, on the other hand, was bolstered by the Federal Reserve decision to raise interest rates has projected and the plan to further complement this with a robust fiscal policy.


Therefore, this week the US dollar is expected to further gain against the Euro single currency towards the ascending channel at 1.1698, a sustained break below the 1.1685 should open up 1.1581 if the tax reform eventually goes through. Hence, we are bearish on EURUSD.


The Australian dollar rebounded last week against the US dollar, however, this is likely a temporary upsurge due to better than expected retail sales and job numbers. This is because the Australian economy remains weak; growing at 0.6 percent rate in the third quarter and retail sales that rebounded in October has been down for three previous months due to growing household debt and weak consumer spending.


This week, the strong US economic fundamentals and tax reform possibility are likely to boost the US attractiveness against the Aussie dollar. Therefore, we remain bearish on AUDUSD as explained previous, and expect a break below the ascending channel at 0.7515 to open up 0.7385 (new target).


After peaking at a 39-month record three weeks ago, this pair called the top at 1.7481 price level and dropped 677 pips. Meaning, the European Central Bank’s monetary stance plunged the euro against the New Zealand dollar.


This week, the weak euro is expected to dip further against haven currency, Kiwi. A sustained break of 1.6804 price level should open up 1.6395, target 1.



As previously explained, even though construction sector expanded more than projected in November, new investment remained weak, suggesting that investors are holding back due to growing economic and political uncertainty in the region. Therefore, a positive Brexit agreement or meeting is necessary to boost business confidence and sustain economic activities.

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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Black Market Exchange Rate Today 1st December 2023

What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of December 1st, 2023, the dollar to naira exchange rate is 1 USD to 1160 NGN at the black market.




What is the Dollar to Naira exchange rate at the parallel market, known as the black market (Abokifx) today? As of December 1st, 2023, the dollar to naira exchange rate is 1 USD to 1160 NGN at the black market.

This means that for every one US dollar, you can exchange it for ₦1160, 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 ₦1160 and ₦1150 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 ₦1160 and sold for ₦1150.

Exchange Rate of Dollar To Naira in Black Market Today?

Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate 1150
Buying Rate 1160

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

Investors King understands that although the dollar to naira opened at N1160 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 Friday, December 1st, 2023, individuals in the black market purchased one US dollar for N1160 and sold it for N1150. 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 several 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 Sees Uptick, But November Nears Steepest Monthly Decline in a Year



US Dollar -

The dollar made modest gains on Thursday, but it still faces the prospect of marking its most significant monthly decline in a year.

This trend is largely attributed to heightened speculation that the Federal Reserve will refrain from further rate hikes, a sentiment reinforced ahead of a crucial inflation report scheduled for later in the day.

The dollar index, gauging the U.S. currency against six counterparts, managed to climb 0.35% to 103.18, rebounding from Wednesday’s low of 102.46—the weakest level since August 11.

Despite this slight recovery, the index is on track to conclude November with a 3.3% slump, fueled by mounting expectations of a Fed interest rate cut in the first half of 2024.

Mohamad Al-Saraf, Associate of FX and Rates Strategy at Danske Bank, noted, “The key drivers in November for the dollar weakness have been the benign inflation data and the loosening signs of the labor market.”

Market focus intensifies as investors await the crucial Personal Consumption Expenditure (PCE) price index, the Fed’s targeted measure of inflation, scheduled for release on Thursday.

Christopher Wong, Currency Strategist at OCBC, emphasized that the PCE data would offer insights into the persistence of the disinflation trend.

As U.S. rates futures markets price in over 100 basis points of rate cuts for next year, commencing in May, the dollar’s path remains contingent on inflationary signals and cues from Federal Reserve Chair Jerome Powell’s speech on Friday.

The global economic landscape, underscored by weaker data in Germany, Spain, and France, amplifies the volatility in currency markets, leaving investors closely monitoring central bank responses.

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Euro Weakens as Weak French Data Fuels Rate Cut Speculation



Euro currency

The euro faced a decline and German government bonds experienced an upswing following disappointing French economic data, intensifying speculations about potential rate cuts by the European Central Bank (ECB).

The euro exhibited a 0.4% weakening against the dollar while ten-year bund yields dropped four basis points, indicating growing anticipation of an earlier initiation of ECB interest-rate reductions in the coming year.

The Stoxx 600 index slightly receded, marking a moderate adjustment to its most impressive month since January. Concurrently, US equity futures maintained stability with minimal changes.

US Treasuries, however, experienced a brief pause in their November rally as investors awaited further signals regarding the potential timing of a shift towards rate cuts in the upcoming year.

The upcoming data on Thursday is projected to demonstrate a deceleration in the personal consumption expenditures price index, the Federal Reserve’s preferred inflation metric.

“The PCE inflation data for October is most likely going to echo what we already saw in the October CPI and PPI reports and add to the soft-landing narrative,” stated Evelyne Gomez-Liechti, a multi-asset strategist at Mizuho International Plc in London.

The French economy contracted by 0.1%, coupled with a decline in November inflation to the lowest level this year.

Markets are now pricing in a quarter-point reduction in ECB rates by April.

Investors are closely watching for signals from Fed Chair Jerome Powell’s speech on Friday, considering it a potential litmus test for market sentiment and the Fed’s stance on monetary policy.

Analysts caution against excessive optimism in the market, urging prudence in evaluating the forward curve and expecting clarity from Powell’s statements later this week.

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