Friday, February 01, 2019 08:10 AM / FDC
The US Federal Reserve left its benchmark interest rate unchanged at 2.25%-2.5%p.a and pledged to adopt a more cautious approach towards future rate hikes. The US dollar depreciated against the basket of major currencies as markets now expect two rate hikes in 2019, down from three previously.
The price of Brent oil increased by 0.92% to $62.22pb partly due to the weaker greenback. As far as Nigeria is concerned, higher oil prices would continue to support fiscal and export revenues.
The slides below summarize the events that took place in the domestic and global commodity markets this week.