Market Patrol 17th November 2022

"To win big, you sometimes have to take big risks."

Bill Gates

Indicative Selling Rates
against MUR
USD

20 May 2024

AUD
31.29
0.6765

BWP
3.48
0.0752

CAD
34.28
1.3494

CNY
6.49
7.1298

DKK
6.85
6.7581

EUR
50.57
1.0931

HKD
6.02
7.6834

INR
0.56
81.9464

JPY
30.06
153.9165

KES
35.81
129.1711

NZD
28.61
0.6185

NOK
4.43
10.4478

SGD
34.75
1.3311

ZAR
2.63
17.5910

SEK
4.38
10.5588

CHF
51.21
1.1069

GBP
59.06
1.2766

USD
46.26
1.0000

AED
12.80
3.6152

The Cable maintained its upward trend at $1.1900 as UK CPI came in at 11.1% in October, the highest reading in over four decades

Fundamental News

EUR/USD
The Single Currency paused its rally against the greenback towards $1.0380 as mixed comments from ECB members regarding quantitative tightening yesterday hinted lower future rate hikes.

GBP/USD
The Cable maintained its upward trend at $1.1900 as UK CPI came in at 11.1% in October, the highest reading in over four decades.

USD/JPY
The Japanese yen remained sidelined around 139.40 amid mixed comments from the Bank of Japan (BOJ) policymakers.

AUD/USD
The Aussie dollar edged higher to $0.6720 against the dollar on the back of optimistic Australia Employment Change statistics.

USD/CAD
The Canadian dollar weakened against its U.S. counterpart to 1.3344 as investors took stock of recent gains and domestic inflation data left the door open to a smaller interest rate hike by the Bank of Canada at a policy decision next month.

USD/ZAR

The South African rand slid to 17.30 amid poor domestic retail sales data.

USD/MUR
The dollar-rupee remained unchanged at 44.15 (Selling) post Central bank Intervention

Fundamental & Technical Data

Economic Indicators-Local Time

14:00 - EUR - Core Harmonized Index of Consumer Prices (MoM) - Oct

17:30 - USD - Initial Jobless Claims

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

4.00%

01-Nov-2022

13-Dec-2022

European Central Bank

2.00%

01-Jan-0001

15-Dec-2022

Bank of England

3.00%

01-Jan-0001

15-Dec-2022

Bank of Japan

-0.10%

28-Jan-2016

20-Dec-2022

Reserve Bank of Australia

2.85%

01-Jan-0001

06-Dec-2022

S.Africa Reserve Bank

01-Jan-0001

Reserve Bank of India

5.90%

01-Jan-0001

07-Dec-2022

Bank of Mauritius

4.00%

04-Nov-2022

Looking for Markets correlation?

Market Correlation is a measure, statistical or observational, that gives a positive or negative link between the pricing of multiple currencies.

Bulls & Bears Levels

Resistance and Support

Levels

EUR/USD

GBP/USD

USD/JPY

USD/ZAR

1.0594

1.2223

151.34

18.30

1.0408

1.1978

148.97

17.13

1.0308

1.1845

144.96

16.98

1.0122

1.1600

142.59

15.74

1.0022

1.1467

138.58

15.14

0.9836

1.1222

136.21

14.41

0.9736

1.1089

132.20

13.99

Technical Analysis - Forex Charts

EUR/USD Outlook- looking bleak throughout Q3-Q4 2022

Chart updated on 05.07.2022

USD/MUR Outlook One more leg higher before paring some of its gains in Q3-Q4 2022

Chart posted on 05.07.2022

EUR/MUR- Bears in control in Q3-Q4 2022

Chart posted on 05.07.2022

The Canadian dollar swirled in a roller coaster move, falling to 1.3600 against the U.S. dollar as the Bank of Canada delivered a lower-than-projected rate hike of 50 basis points but later gained to 1.3530 on broad dollar weakness.

Chart posted on 27.10.2022

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Allan Juste

Head - Forex And Derivatives

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Head – Treasury Sales

+230 403 5500

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Disclaimer

Please note that the information published is purely indicative. It is based on technical data from sources which the Bank verily believes to be authentic, though its timeliness or accuracy cannot be warranted or guaranteed. AfrAsia Bank Ltd issues no invitation to anyone to rely on this bulletin and neither we nor our information providers shall be in no way whatsoever, liable for any errors or inaccuracies, regardless of cause, or the lack of timeliness, or for any delay or interruption in the transmission thereof to the user. The indicative rates and other market information are subject to changes at the Bank's discretion. Whilst every effort is made to ensure the information is accurate, you should confirm the latest situation with the Bank prior to making any decisions.

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