Dollar weakens after strong rally as US government shutdown looms / US core PCE inflation holds steady at 2.9% in August
The U.S. dollar slipped after rallying, pressured by fears of a looming government shutdown and a stabilizing core PCE inflation rate of 2.9%, which reinforces expectations that inflation remains sticky but contained.
Euro Technical Forecast: EUR/USD Breaks Uptrend — Correction Looms / ECB signals contained inflation risks
EUR/USD has slipped out of its 2025 uptrend channel, raising the prospect of a corrective move lower toward support around 1.1586–1.1497, while resistance near 1.1775 may cap upside. At the same time, ECB President Lagarde said inflation risks in the eurozone are “quite contained”, reinforcing views that the ECB may maintain rates for now unless data surprises.
Sources: Forex, Financial Times
British Pound Slides as UK Faces Pharma Tariff Threat / FTSE 100 Slips From Record After Four-Day Rally
Sterling fell on worries that the U.S. may impose a 100% tariff on British pharmaceutical imports, pushing investors to reassess UK exposure to trade risks. Meanwhile, the FTSE 100 pulled back after rallying four days straight, weighed down by tariff uncertainty and global sentiment shifts despite bouts of strength in pharmaceutical stocks.
Sources: DMarketForces, Bloomberg
Nigeria’s domestic debt surge amid swelling liquidity / steep rise in central bank holdings
In September 2025, Nigeria’s FGN bond auction drew a staggering 530% oversubscription (₦1.26 trn subscriptions vs ₦200 bn offered), despite a recent rate cut by the CBN. Meanwhile, over an eight-month period, the Central Bank revealed that Nigeria’s debt service bill hit $2.86 billion and that banks’ deposits with the CBN rose by 568% to ₦146.13 trillion — signaling massive liquidity parked at the apex bank.
Sources: Nairametrics, Punch, Vanguard
BoG’s $300m FX auction eases market pressures / Ghana inflation drops to 9.4%, first single-digit since 2021
The Bank of Ghana’s $300 million forex auction is helping stabilize the cedi and alleviate external pressures, while Ghana’s consumer inflation fell to 9.4% in September—the lowest since August 2021 driven largely by easing food prices. Also, the Ghana Securities Exchange (GSE) was the standout performer among selected African markets for the week ended September 26th, 2025, posting an impressive 4.34% gain.
Sources: Nairametrics, Ghanaweb
Banks and mobile money finally connected: BCEAO simplifies payments
The BCEAO has launched a regional interoperability platform (PI-SPI), set to go live September 30, 2025, which will enable real-time transfers 24/7 between banks, mobile money operators, and microfinance institutions across the UEMOA region—marking a major step in financial inclusion and payment system integration.
Sources: Financial Afrik
BEAC keeps rates unchanged as growth in CEMAC weakens to 2.6% / Inflation seen easing toward 2.6% in 2025
The Bank of Central African States (BEAC) held its key rates steady at its September meeting as regional growth forecasts were downgraded to 2.6% for 2025, dragged by weakness in oil & gas. Inflation is expected to continue its downward trajectory, with forecasts pointing toward a rate near 2.6%, comfortably under the 3% regional target.
Sources: Ecofin Agency, Business in Cameroon
Oil Prices Rise on Russian Sanctions Risk / Crude Oil Prices Plunge Over 3% as OPEC+ Signals More Supply
Oil rebounded modestly after sliding from 3-week lows, as markets reassessed the risk of tighter sanctions on Russian crude. Meanwhile, earlier in the week, crude futures tumbled over 3%, driven by expectations that OPEC+ would ramp up output and flood already well-supplied markets.
NNPCL, Dangote sign new 2-year crude deal / Dangote resumes petrol-in-naira sales after suspension
NNPCL has agreed to supply crude to Dangote Refinery under a new two-year deal to ensure steady feedstock flow. Following a brief halt caused by crude supply constraints, Dangote has resumed petrol sales in naira. While Nigerian crude oil hits $70/barrel amid global tensions.
Sources: Nairametrics, Reuters
PENGASSAN halt gas/crude supply to Dangote, Nationwide strike declared, fuel disruptions hits
PENGASSAN directed its members to cut off gas and crude flows to Dangote Refinery in protest over mass sackings, triggering a nationwide strike and causing long fuel queues and price pressure in major cities
Sources: Nairametrics, Nairametrics
