Market Patrol 6 January 2021

If you are not investing, you're doing it wrong.

Warren Buffet

Indicative Selling Rates
against MUR
USD

23 Apr 2024

AUD
30.68
0.6522

BWP
3.45
0.0733

CAD
34.62
1.3589

CNY
6.58
7.1457

DKK
6.82
6.8986

EUR
50.38
1.0709

HKD
6.09
7.7204

INR
0.57
82.0223

JPY
30.75
152.9787

KES
35.74
131.6321

NZD
28.10
0.5974

NOK
4.37
10.7565

SGD
34.91
1.3474

ZAR
2.53
18.5665

SEK
4.39
10.7267

CHF
51.90
1.1034

GBP
58.40
1.2415

USD
47.04
1.0000

AED
13.01
3.6157

The U.S dollar receded across the board soured by the upcoming Georgia election results

Fundamental News

EUR/USD
The shared currency recovered from $1.2325 to $1.23 with the risk sentiment weakening on increased expectations for a Democrat-controlled US Senate.

GBP/USD
Sterling mounted to $1.3612 on Brexit deal optimism. Second readings of UK Services PMI for December and speech from BOE’s Bailey at 18:00 local time with increasing odds of rate cuts, are highly anticipated.

USD/JPY
The Japanese Yen spiked to 102.57 against the U.S dollar as plan to rethink over the delisting of three stocks from Beijing by US President Trump’s executive orders and the New York Stock Exchange’s triggered risk-off mood.

AUD/USD
The Australian dollar pierced $0.7775 on speculation of a quick economic recovery in 2021 once coronavirus vaccinations are widely distributed.

USD/ZAR
South African rand nosedived to 15.07 against the greenback on rumours that South Africa could announce a higher level of lockdown as the country wrestles with an increasing number of coronavirus cases.

USD/MUR
Mauritian rupee stayed unchanged at 39.83(selling) on the domestic market.

Fundamental & Technical Data

Economic Indicators-Local Time

13:30 - GBP - Composite PMI(Dec)

13:30 - GBP - Services PMI(Dec)

17:15 - USD - ADP Nonfarm Employment Change(Dec)

18:00 - GBP - BoE Gov Bailey Speaks

19:30 - USD - Crude Oil Inventories

23:00 - USD - FOMC Meeting Minutes

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

27-Jan-2021

European Central Bank

0.00%

10-Mar-2016

21-Jan-2021

Bank of England

0.10%

19-May-2020

04-Feb-2021

Bank of Japan

-0.10%

28-Jan-2016

21-Jan-2021

Reserve Bank of Australia

0.10%

03-Nov-2020

02-Feb-2021

S.Africa Reserve Bank

3.50%

23-Jul-2020

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

1.2383

1.3749

103.64

15.50

1.2344

1.3696

103.42

15.35

1.2319

1.3661

103.06

15.26

1.2280

1.3608

102.83

15.22

1.2255

1.3573

102.47

14.55

1.2217

1.3520

102.25

14.50

1.2191

1.3485

101.89

13.90

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Allan Juste

Head - Forex And Derivatives

+230 5251 4855

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Head – Treasury Sales

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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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