This week's inaction from two major central banks, namely the US Federal Reserve and the Bank of Japan, has caused the global equity indices ... and the US dollar to weaken. Indeed, slower US growth than expected encouraged the Fed not to raise interest rates and to lower its expectations for any more hikes this week. It’s all about global sentiment, generally the statement that the Fed would be more cautious moving forward was supportive for African currencies.

News that Chinese economy grew at its slowest rate in seven years (6.7% at annual pace) put a damper on a few African indices Friday erasing the excitement triggered by upbeat Chinese data suggesting a rebound in activities perceived as an early sign of economic recovery. The biggest losses were witnessed on shares depending on China as a market for their commodities. Adding to the uncertainty climate, the Doha meeting took place over the weekend. World major oil producers met in Qatar Saturday to discuss an output freeze to boost prices. Hopes are big for the investors as a failure to reach a deal could lead to a collapse in oil prices, a sharp sell-off in the markets and maybe risk aversion returns on the market, which is not supportive for African markets sentiment.