Market Patrol 11 January 2021

Do more of what works and less of what doesn't

Steve Clark

Indicative Selling Rates
against MUR
USD

09 Sep 2024

AUD
31.53
0.6779

BWP
3.56
0.0766

CAD
34.59
1.3446

CNY
6.74
6.8961

DKK
7.01
6.6375

EUR
51.79
1.1136

HKD
6.06
7.6799

INR
0.56
82.6119

JPY
33.20
140.0916

KES
36.77
126.5058

NZD
28.97
0.6229

NOK
4.43
10.4901

SGD
36.27
1.2825

ZAR
2.70
17.2196

SEK
4.57
10.1717

CHF
55.35
1.1900

GBP
61.37
1.3195

USD
46.51
1.0000

AED
12.96
3.5874

The Greenback boosted by U.S. Yields and hopes for more stimulus measures

Fundamental News

EUR/USD
The Shared currency slipped to $1.2177 as sharp gains in U.S. yields and hopes for more stimulus to boost the world's largest economy prompted some investors to temper bearish bets.

GBP/USD
The Cable extended losses to $1.3496, as data showed traders were beginning to unwind some of their bullish bets on growing expectations that the Bank of England may soon cut rates into negative territory to support the recovery.

USD/JPY
The Japanese yen dropped to 104.19 against the U.S dollar on a better than expected U.S unemployment data on Friday and a closed Japanese market due to holiday today.

AUD/USD
The Aussie dollar trickled to $0.7697, ignoring better than expected Australian Retail Sales data and China's inflation numbers.

USD/ZAR
South Africa's rand firmed at 15.40 against the greenback, recovering some ground after a torrid week in which the country recorded a peak in daily COVID-19 infections and doubts over its vaccine supplies came to the fore.

USD/MUR
The pair idled at 39.83(selling) on the local market.

Fundamental & Technical Data

Economic Indicators-Local Time

21:00 - USD - FOMC Member Bostic Speaks

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

1.2425

1.3723

105.22

15.85

1.2385

1.3678

104.59

15.60

1.2325

1.3622

104.22

15.48

1.2285

1.3577

103.58

15.37

1.2226

1.3521

103.21

15.10

1.2186

1.3476

102.58

14.87

1.2126

1.3420

102.20

14.50

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Allan Juste

Head - Forex And Derivatives

+230 5251 4855

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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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