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Market Recap (22nd - 26th January, 2024)

1 month ago   MARKET NEWS   Lagos   507 views Reference: 295

Location: Lagos


**Weekly Market Recap and Forecast:**

This is the market recap for the week in view:

_
**USD Exchange Rates:**

- Opened at N1,350 (buying) and N1,362 (selling).

- Closed the week at N1,413/N1,423.

_
**Euro Exchange Rates:**

- Started at N1,440 (buying) and N1,464 (selling).

- Closed at N1,500/N1,525.
_
**Pound Exchange Rates:**

- Began at N1,670 (buying) and N1,690 (selling).

- Closed at N1,775/N1,803.

_
**Insights:**

- USD showed strong gains with a closing range consolidating above the
N1,400 mark.

- The Euro maintained its stamina, closing with a slight upward momentum.

- Pound demonstrated a gradual uptrend, potentially influenced by strong
fundamental indicators.

_
**Forecast for Next Week:**

- USD: Anticipate a range of N1,360-N1,400 (buying) and N1,380-N1,480 (selling).

- Euro: Expected range of N1,440-N1,490 (buying) and N1,500-N1,570 (selling).

- Pound: Foreseen range of N1,680-N1,750 (buying) and N1,750-N1,900 (selling).

_
*Note: Forecasts are subject to market conditions and may vary based on unforeseen events.*