Data from the Nigerian Bureau of Statistics (NBS) Foreign Trade Report for Q4 2017 shows China was the country's largest import partner, accounting for 22% or ₦465.13 billion of all imports.
The dollar index meanwhile languished at two-week lows after U.S. President Trump criticised the Federal Reserve's tightening policy and accused the European Union and China of manipulating their currencies.
These comments will make for an interesting G20 finance ministers meeting this weekend in Buenos Aires, but it does appear that not only do we appear to be heading for a trade war, but it also looks like currencies are about to be brought onto the field of battle as well, as the USA administration tries to limit the effects of its own fiscal stimulus.
Fed non-voter Bullard spoke with a dovish tone when he stated that U.S. rates were high by global standards, that Fed forecasts indicate further gradual tightening but that curve inversion may be imminent and would be a bearish signal. The pan-European STOXX index and Germany's DAX, which is highly exposed to trade and China, were down 0.2 percent and half a percent respectively. Stocks wobbled all week as investors reacted to solid company results as well as heightened trade tensions. With US production also at record levels a global trade slowdown could ripple out into lower demand, and with the US President bemoaning current oil price levels it is not beyond the realms of possibility that we could see an SPR release as the Trump administration tries to put a lid on gasoline prices. It was last up 0.2 percent at $1.135.
After falling 0.4 percent, MSCI's index of Asia-Pacific shares outside Japan ended the day 0.6 percent higher as the yuan rebounded. The Russell 2000 index of smaller-company stocks was little changed at 1,702.
Europe's autos sector extended falls, down almost 2 percent after Trump's comments and set for their biggest losses day for three weeks.
The slide comes amid a deepening U.S. Forestry also suffered, with West Fraser Timber losing 8.1 per cent. Aimia surged more than 18 per cent after announcing it would launch Aeroplan charter flights. The US dollar lost to 0.9926 Swiss franc from 0.9990 Swiss franc, and it went down to 1.3127 Canadian dollars from 1.3252 Canadian dollars.
Rescued boys from Thai cave make public appearance
They also described the meals they'd eaten while at the hospital for the past week - pork and rice, bread with chocolate spread. The boys were taught how to meditate to conserve energy , and many avoided thinking about food in order to stave off hunger.
On Wall Street, the Dow Jones Industrial Average rose 9.71 points, or 0.04 percent, to 25,074.21, the S&P 500 gained 0.39 points, or 0.01 percent, to 2,804.88 and the Nasdaq Composite added 9.01 points, or 0.12 percent, to 7,834.31. It was still up 1.7 percent on the week, boosted earlier after Fed's Powell reinforced expectations for gradual, steady rate increases.
General Electric lost 3.4 percent to $13.26.
Benchmark 10-year US notes last fell 13/32 in price to yield 2.895 percent, from 2.847 percent late on Thursday.
The US dollar bought 111.55 Japanese yen, lower than 112.47 Japanese yen of the previous session.
Wholesale gasoline rose 1.2 percent to $2.07 a gallon. The British pound strengthened 0.9 percent to $1.3136. More than 70% of Republican and Republican-leaning USA adults believe increased tariffs between the United States and its trading partners will be good for the country, according to a Pew Research Center survey released late Thursday.
USA crude fell slightly to $68.24 a barrel after posting its third straight weekly loss.