BusinessDay 07 Jan 2019
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www.businessday.ng www.facebook.com/businessdayng @businessDayNG @Businessdayng Monday <strong>07</strong> <strong>Jan</strong>uary <strong>2019</strong><br />
66 BUSINESS DAY<br />
Data<br />
Week Ahead<br />
(<strong>Jan</strong>uary 7 – 11, <strong>2019</strong>)<br />
BONDS<br />
Next week, Open Market Operations (OMO) maturities worth N375.4bn will hit<br />
the banking system.<br />
The Central Bank of Nigeria (CBN) will continue with its weekly Open Market Operations<br />
(OMO) mop ups to keep liquidity levels in check.<br />
Yields on corporate Eurobonds are expected to pare in the coming weeks as flight<br />
to safety imperative becomes stronger in the face of the impending elections.<br />
NAIRA<br />
The naira appreciated last week to close at N357 per dollar in the parallel market.<br />
Analysts expect the naira to trade fairly stable this week as the CBN continues its<br />
usual intervention in the Foreign Exchange market.<br />
EQUITIES MARKET<br />
Analysts expect that a bearish performance will dominate the capital market this<br />
week, following the poor performance of the All Share index which shed 1.28 percent<br />
last week, as sell pressures persist due to pre-election jitters.<br />
COMMODITIES<br />
Forecasts of increased global wheat supply in the 2018/<strong>2019</strong> season would put<br />
pressure on prices.<br />
Weakening demand coupled with a supply glut would continue to push SUGAR<br />
prices down.<br />
EVENTS<br />
Chartered Institute of Tax of Nigeria (CITN) holds its Annual tax week program at<br />
Oriental hotel, Victoria Island Lagos on the 9th to 11th.