Market Patrol 7 January 2021

Living in an ivory tower and trying to change the culture will not get you anywhere.

Mindy Grossman

Indicative Selling Rates
against MUR
USD

24 Apr 2024

AUD
30.84
0.6580

BWP
3.43
0.0732

CAD
34.58
1.3552

CNY
6.56
7.1461

DKK
6.83
6.8651

EUR
50.42
1.0758

HKD
6.07
7.7178

INR
0.57
81.9769

JPY
30.62
153.0506

KES
35.48
132.1115

NZD
28.11
0.5997

NOK
4.40
10.6625

SGD
34.83
1.3457

ZAR
2.54
18.4847

SEK
4.40
10.6565

CHF
51.73
1.1037

GBP
58.66
1.2515

USD
46.87
1.0000

AED
12.96
3.6156

U.S dollar fuelled by Democrats taking control of US Senate with two Georgia victories

Fundamental News

EUR/USD
The fiber hammered to $1.2265 last night, amid dollar strength as a Democrat win in the U.S. Senate election in Georgia that would clear the path for a larger fiscal stimulus package, before clawing back to losses at $1.2330.

GBP/USD
The cable staged brief recovery from $1.3537 to $1.3607, powered by violent clashes by Trump supporters in the U.S Capitol.

USD/JPY
The Japanese Yen tumbled to 103.45 against the dollar, following ADP data showing an unexpected decline in U.S. private sector jobs for the first time in eight months.

AUD/USD
Aussie escalated to $0.7817 although U.S. President Donald Trump escalated tensions with Beijing by signing an executive order banning U.S. transactions with eight Chinese software applications.

USD/ZAR
South African rand percolated at 15 against the greenback amid surging Covid-19 propagation in South Africa, with the most cases and deaths on the African continent.

USD/MUR
The local currency remained intact at 39.83(selling) on the FX market.

Fundamental & Technical Data

Economic Indicators-Local Time

13:30 - GBP - Construction PMI (Dec)

14:00 - EUR - CPI (YoY)(Dec)

16:30 - EUR - ECB Monetary Policy Statement

17:30 - USD - Initial Jobless Claims

19:00 - USD - ISM Non-Manufacturing PMI (Dec)

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

1.2444

1.3806

104.31

15.50

1.2397

1.3739

103.87

15.35

1.2360

1.3674

103.46

15.26

1.2313

1.3607

103.02

15.22

1.2277

1.3542

102.61

14.55

1.2229

1.3474

102.17

14.50

1.2193

1.3410

101.76

13.90

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Allan Juste

Head - Forex And Derivatives

+230 5251 4855

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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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