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Dollar just off August high, US rates and election in focus - REUTERS

OCTOBER 22, 2024

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Oct 22 (Reuters) - The U.S. dollar clung to a 2-1/2 month high on Tuesday on expectations the Federal Reserve will take a measured approach to interest rate cuts, while a too-close-to-call U.S. election campaign kept investors on edge.
The dollar's strength, boosted by rising Treasury yields, kept pressure on the yen, euro and sterling, a theme that has been building over the past few weeks as traders scale back their bets on rapid U.S. rate cuts.

MARKET NEWS

October 22 Nigeria’s daily petrol consumption crashes 52% says FG - BUSINESSDAY October 22 Thai Finmin says growth may not reach 3% in 2024, but will in 2025 - REUTERS October 22 Five banks raise N1.27trn amid recapitalisation race - BUSINESSDAY October 22 Oil declines after surge as traders keep focus on Middle East - BLOOMBERG October 22 Callers to pay more as FG proposes 12.5% telecom tax - BUSINESSDAY October 22 Dollar just off August high, US rates and election in focus - REUTERS October 22 Rupee shielded by cenbank intervention, higher US bond yields weigh on Asia FX - REUTERS October 22 Nigeria, USA annual trade hits $10bn — Official - PUNCH October 22 South African rand supported by carry trade and precious metals - REUTERS October 22 Goldman Sachs says euro could drop 10% under Trump tariffs and tax cuts - REUTERS October 22 Nigeria lost N13tn to forex subsidy in three years — World Bank - BUSINESSDAY October 22 Freight forwarders blame container evacuation delay on terminal operators - PUNCH October 22 Gold prices driven higher by geopolitical, U.S. election anxiety: strategist - BLOOMBERG October 22 ‘New bullish phase’? As gold hits another high, analysts say more records are in sight - CNBC October 22 Sterling dips as US dollar rides economy higher - REUTERS October 22 Dollar rises in tandem with US rates on economic view - REUTERS October 22 Naira begins week with depreciation against dollar - DAILY POST October 22 Report: Naira To Extend Losses In 2025 - NEW TELEGRAPH October 22 Naira appreciates to N1,715 in parallel market - VANGUARD October 22 System upgrades leave bank customers frustrated - PUNCH October 22 African Markets – Factors to watch on Oct 22 - REUTERS October 22 Egypt’s Surprise Inflation Climb May Push Back Rate Cuts to 2025 - BLOOMBERG October 22 Weak naira has certain advantage – CBN Gov - DAILY TRUST October 22 Gold Hits New Record on Mideast Tension as Traders Weigh US Data - BLOOMBERG October 22 Dangote’s Wealth Doubles to $28 Billion on ‘Monster’ Nigeria Oil Project - BLOOMBERG October 22 Don’t backtrack on naira-for-crude, LCCI urges NNPCL - DAILY TRUST October 22 Naira gradually firming up, says Cardoso - THE GUARDIAN October 22 Thai central bank delivers first rate cut since 2020, downplays political pressure - REUTERS October 22 Naira Weakens Further To N1,660.49/$1 On Official Market - NE WTELEGRAPH October 22 Foreign direct investments into Nigeria low – Soludo - PUNCH

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