This Week’s Quick Market Macro Update
Welcome to your no-fluff market rundown. It’s been a week of sharp moves, bold headlines, and plenty of macro tension- here’s the lowdown.
United States (USD)The dollar took a hit this week after former President Trump dropped a bombshell: a 10% baseline tariff on all U.S. imports. The surprise move rattled markets, sent stocks tumbling, and sparked a flight to safe havens as fears of a fresh global trade war started to build.
The impact wasn’t limited to the U.S. either. Investors pulled a massive $43.73 billion from Asian equities in Q1- the largest outflow in 15 years- partly in anticipation of Trump’s tariffs. With risk-off sentiment rising, expect continued dollar volatility.
Keep an eye on:
Wed @ 7PM-FOMC Meeting MinutesThur @ 1:30PM-CPI data & Unemployment ClaimsFri @ 1:30PM-PPI dataFri @ 3PM-UoM Consumer Sentiment & Inflation Expectations
United Kingdom (GBP)In the UK, the ONS (Office for National Statistics) is trimming back operations due to tight funding, shifting focus to core economic and population data. Despite that backdrop, Sterling soared to a six-month high against the dollar last Thursday. With the greenback on the ropes post-tariff announcement, traders rotated into the pound.
Coming up: Fri @ 7AM-Monthly GDP figures
Nigeria (NGN)The Naira continues to trade under pressure, holding below N1550/$. Low crude oil output, a fragile FX environment, and unresolved Naira-for-crude negotiations are all dragging on sentiment-even as Nigeria’s FX reserves rose to $23.1 billion this year. For now, it’s a wait-and-watch situation.
Other MarketsSouth Africa (ZAR):The rand slipped to its lowest level since January. U.S. trade tensions plus local political risks from a heated budget vote are weighing heavily.
Uganda (UGX):The shilling held stable and is expected to strengthen thanks to rising dollar inflows from coffee and gold exports. Commercial banks quoted it at 3,639/3,649.
Kenya (KES):Kenya’s shilling stayed steady, with low importer demand helping keep things calm. Commercial banks had it at 129.00/50.
That’s your market pulse for the week-one packed with big headlines and even bigger moves. Whether you’re watching CPI data or following FX trends, expect more volatility as the tariff story unfolds.
