The biggest shock this week did not come only from oil or gold, but from currencies. As of July 9, 2026, EUR/MAD jumped 3.22% to 10.685, USD/EGP rose 1.59% to 49.56, while USD/NGN stayed elevated at 1,375.08. Across African stock markets today, that mix is changing how investors read commodity rallies: an exporter’s share price can rise in local currency without delivering the same return in dollars or euros.
Key figures
- EUR/MAD: 10.685, up 3.22%
- USD/EGP: 49.56, up 1.59%
- USD/NGN: 1,375.08, up 0.31%
- Brent: $75.74/bbl, down 2.9% on the day but up 5.2% on the week
- Gold: $4,141.2/oz, up 1.7%
FX is now the first filter for reading commodities in African stock markets today
In this week’s African stock markets today picture, commodity prices alone no longer explain equity performance. Brent still held a weekly gain of 5.2% at $75.74 a barrel, based on the market data provided in the global context, but that signal does not mean the same thing in Lagos, Johannesburg or Casablanca. The reason is straightforward: many producers earn revenue in dollars, while costs, dividends and equity valuations are reported in , or .