Week Ahead (September 24 – September 30)

Week Ahead (September 24 – September 30)

Sunday Sep 24

  • NBS

August 2017 monthly FAAC Disbursement data

Wednesday Sep 27

  • NBS

Q2, 2017 Labour Productivity report

Q2, 2017 online recruitment service report

Friday Sep 29

  • NBS

Q2, 2017 Unemployment and underemployment watch

Saturday Sep 30

  • NBS

2016/2017 creative industries sector survey

2016/2017 Solid Mineral and mining sector survey

Foreign

Tuesday Sep 26

  • S Consumer Confidence

10.00 a.m. ET

The Conference Board compiles a survey of consumer attitudes on the economy. The headline Consumer Confidence Index is based on consumers’ perceptions of current business and employment conditions, as well as their expectations for six months hence regarding business conditions, employment, and income. Three thousand households across the country are surveyed each month.

Why Investors Care

The pattern in consumer attitudes can be a key influence on stock and bond markets. Consumer spending drives two-thirds of the economy and if the consumer is not confident, the consumer will not be willing to pull out the big bucks.

Thursday Sep 28

  • International Trade in Goods

8.30 a.m. ET

The Census Bureau is now publishing an advance report on U.S. international trade in goods. The Bureau of Economic Analysis will incorporate these data into its estimates of exports and imports for the advance GDP estimates. This is expected to reduce the size of revisions to GDP growth in the second estimates.

Why Investors Care

Changes in the levels of imports and exports, along with the difference between the two (the trade balance), are valuable gauges of economic trends in the U.S and abroad. While these trade figures can directly impact all financial markets, they primarily affect the value of the dollar in the foreign exchange market.

Currency outlook: Naira to trade unchanged

The Nigerian naira is expected to trade little changed this week as investors await the central bank’s decision on interest rate on Tuesday, which could affect portfolio inflows and currency market liquidity.

The naira traded at around N360 to the dollar on Thursday for investors, who have been offering to sell the U.S. currency at N365 naira, close to the black market rate of N367.

On the official market, the naira was quoted at N306, a level at which the central bank has been selling $500,000 daily to lenders to clear matured letters of credit, traders say.

A majority of analysts predict rates would stay on hold at 14 percent.

Compiled by Patrick Atuanya

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