By 
The Zambian Kwacha opened the week weaker against the US dollar, slipping 0.58 percent to close just above 23.2000 per dollar, maintaining a break above its 100-day simple moving average of 23.1891, according to Bloomberg data.
Analysts said the Kwacha could face continued pressure as corporate demand for hard currency rises ahead of the industrial close.
Meanwhile, the US dollar gained modestly against major currencies amid choppy trading ahead of a busy week of central bank meetings.
Markets are pricing in a “hawkish cut,” with the Federal Reserve expected to signal a slower pace of easing in 2026.
Read more: Kwacha extends losses against dollar for second session driven by demand-side pressures
Despite softer US labour data, growth and inflation above the 2 percent target continue to support the dollar’s strength.
In commodity markets, copper pulled back 0.3 percent after hitting a record $11,771 per ton, as traders awaited signals from the Fed on the US economic outlook and the pace of rate cuts.
Despite the retreat, copper remains up more than 30 percent this year, driven by electrification demand, US stockpiling ahead of import tariffs, and global supply constraints.
The Access Bank Group daily market commentary noted:
“Copper’s gains reflect a combination of robust industrial demand and strategic stockpiling ahead of tariffs, while broader base metals show steady momentum. Markets are closely monitoring the Fed, with traders adjusting expectations for slower easing in 2026.”
WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.
Comments