Market Patrol 31st May 2022

Confidence is not “I will profit on this trade.” Confidence is “I will be fine if I don’t profit from this trade.

Yvan Byeajee

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 Loonie pushed higher amid an improvement in market sentiment, higher crude oil prices ahead of Canadian Q1 GDP

Fundamental News

EUR/USD
The Shared currency plunged to $1.0750 on extremely hawkish comments from Fed Waller that they are still considering a 50bp interest rate hike in the US until the Fed find a substantial cut in CPI.

GBP/USD
The Cable dropped to $1.2615 as annual consumer figures has climbed above 9% and market awaiting a confirmation that BOE will consider further hike rate.

USD/JPY
The Japanese yen fell to 128.00 as Industrial Production slumped in April ahead of the key meeting between US President Joe Biden and Fed Chair Jerome Powell.

AUD/USD
The Aussie dollar gained to $0.7194 on positive economic data pointing to steady growth ahead of first quarter gross domestic product due on Wednesday

USD/CAD
The Loonie pushed higher amid an improvement in market sentiment, higher crude oil prices ahead of Canadian Q1 GDP reading later during the day.

USD/ZAR
The South African rand strengthened amid dollar weakness ahead of a number of economic indicators including April credit and money supply data and unemployment numbers for first quarter later during the day.

USD/MUR
The dollar-rupee remained idled at 43.80(Selling).

Fundamental & Technical Data

Economic Indicators-Local Time

11:00 - CHF - GDP (YoY)

12:30 - GBP - Consumer credit

13:00 - EUR - HICP - Consumer price

16:30 - CAD - GDP

18:00 - USD - Consumer confidence

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

1.0%

04-May-2022

European Central Bank

0.00%

10-Mar-2016

Bank of England

1.00%

05-May-2022

Bank of Japan

-0.10%

28-Jan-2016

Reserve Bank of Australia

0.10%

03-Nov-2020

S.Africa Reserve Bank

4.75%

20-May-2022

21-Jul-2022

Reserve Bank of India

4.00%

22-May-2020

Bank of Mauritius

1.85%

16-Apr-2020

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

1.0825

1.2705

128.62

16.38

1.0779

1.2663

128.10

16.29

1.0755

1.2336

127.59

16.21

1.0709

1.2594

127.07

15.54

1.0685

1.2567

126.56

15.33

1.0639

1.2525

126.04

14.42

1.0615

1.2498

125.53

14.35

Technical Analysis - Forex Charts

Technical Outlook of the week - NZDCHF Scenario 1:

Chart updated on 04.03.2022

Technical Outlook of the week - NZDCHF Scenario 2:

Chart posted on 04.03.2022

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Allan Juste

Head - Forex And Derivatives

+230 5251 4855

Email
Reshma Peerun Rajwani

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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