US shutdown and weak jobs data drive record $6B crypto inflows / USD higher as markets unfazed despite shutdown
The U.S. government shutdown and disappointing jobs figures spurred a historic ~$5.95B inflow into crypto funds, especially Bitcoin, while the dollar held firm, with markets shrugging off fiscal standoff risks.
Sources: CryptoSlate, Convera
FX Daily: French politics delivers some euro support / euro dips
While French political developments offered fleeting relief to the euro—drawing attention away from U.S. data and reigniting risk flows—underlying uncertainty kept EUR under pressure, resulting in a modest dip.
FTSE 100 Live: Pound Falls Most This Month as Dollar Rebounds / FTSE 100 Live: UK Stocks Set to Fall, Pound Steadies
Sterling’s sharp slide that was triggered by a dollar rebound, is weighing on UK equities even as some stabilization in the pound offers a semblance of relief to FTSE-heavy exporters.
London’s FTSE 100 hit a fresh intraday high of 9,536.39, driven by strong gains in banking and mining names as gold vaulted past $4,000/oz.
CBN: Demand Deposits Down 1.48% To ₦34.85 trn in August / Reps Raise Panel for PoS, Cryptocurrency as CBN Announces New Cash Withdrawal Limits
Demand deposits in Nigeria dropped 1.48% to ₦34.85 trillion in August (latest CBN data), even as members of the House of Representatives propose forming a legislative panel to oversee point-of-sale operations and cryptocurrencies amid the CBN’s imposition of new daily POS withdrawal caps (₦100,000 per customer) and stricter controls.
Sources: New Telegraph, Legit.ng
CBN’s takeover of fixed income trading/ Nigerian T-Bill yields dip, excess liquidity fuels rally / DMO rolls out October 2025 FGN Savings Bonds as rates ease
The CBN’s planned shift to directly run fixed income trading and settlement signals a major structural reform in Nigeria’s debt markets, coinciding with softer T-bill yields amid excess system liquidity and the DMO’s introduction of October 2025 Savings Bonds at moderated rates.
Sources: Businessday, Marketforces Africa, Thewhistler
BoG Plans US$1.15 Billion Forex Injection This Month / BoG to Regulate Virtual Assets under New VASP Bill.
The Bank of Ghana is reportedly preparing to inject US$1.15 billion into the foreign exchange market to ease cedi pressures, alongside advancing a draft Virtual Asset Service Providers (VASP) bill to bring crypto firms under formal oversight.
CEMAC growth outlook cut to 2.6% in 2025 / Aboubakar Nacanabo becomes new WAEMU Council chair after months of deadlock.
CEMAC’s growth forecast has been trimmed to 2.6% for 2025, dragged by a projected 1.5% contraction in oil & gas output even as non-oil sectors show modest expansion, while in WAEMU the appointment of Burkina Faso’s Aboubakar Nacanabo as Council chair ends a prolonged leadership impasse.
Sources: Ecofin Agency, Business in Cameroon
Microfinance: 2.4 % decrease in outstanding loans by UMOA SFDs in Q1 2025 / PI-SPI: 62 institutions authorized by BCEAO to offer public services in UEMOA
Loans outstanding by decentralized financial systems (SFDs) within the UMOA fell 2.4 % to XOF 2,628.4 billion by end-March 2025, even as PI-SPI (the interoperable instant payments platform) has certified a first cohort of 62 institutions to roll out services across UEMOA.
Sources: Financial Afrik, Financial Arik
Oil prices edge up on worries about Russian output and OPEC+ hikes / EIA Raises U.S. Oil Output Forecast
Oil markets are caught between bullish and bearish forces: supply risks from Russia and restrained OPEC+ output are lifting prices, even as an upgraded U.S. production forecast from the EIA signals looming oversupply pressure.
Sources: Reuters, OilPrice.com
Dangote Reaches Agreement With PENGASSAN / Petrol Prices Crash at Depots as NNPC Hikes Price to N905 Per Litre
Dangote steps back from confrontation with PENGASSAN after government mediation, agreeing to reinstate sacked workers (no loss of pay) and respect union rights — PENGASSAN suspends its nationwide strike. Meanwhile, petrol prices at many private depots have plunged (ex-depot ~ ₦832/litre) following restored supply, even as NNPC has raised its own pump price to ₦905/litre — widening the margin.
Sources: Punch Newspapers, Legit.ng, Legit.ng
