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Treasury

Daily Market Patrol

Market Patrol 13 September 2021

The core problem, however, is the need to fit markets into a style of trading rather than finding ways to trade that fit with market behaviour.

Brett Steenbarger
Indicative Selling Rates
against MUR
USD
20 Sep 2021
  • AUD
  • 31.22
  • 0.7295
  • BWP
  • 3.91
  • 0.0914
  • CAD
  • 33.73
  • 1.2691
  • CNY
  • 6.71
  • 6.3788
  • DKK
  • 6.84
  • 6.2566
  • EUR
  • 50.31
  • 1.1755
  • HKD
  • 5.59
  • 7.6619
  • INR
  • 0.59
  • 72.6819
  • JPY
  • 39.24
  • 109.0796
  • KES
  • 39.39
  • 108.6531
  • NZD
  • 30.30
  • 0.7080
  • NOK
  • 4.98
  • 8.5866
  • SGD
  • 32.02
  • 1.3367
  • ZAR
  • 2.94
  • 14.5487
  • SEK
  • 4.98
  • 8.5976
  • CHF
  • 46.22
  • 1.0799
  • GBP
  • 58.88
  • 1.3757
  • USD
  • 42.80
  • 1.0000
  • AED
  • 11.78
  • 3.6323
The USD/MUR edged lower by 5 cents to 42.75(Selling) post BOM's intervention on Friday.
Fundamental News

EUR/USD
The Shared currency lacked zip at $1.1850 on Friday before falling badly to $1.1792 this morning on expectation the Federal Reserve is to launch its asset purchase tapering in November and begin raising rates in late 2022, while the European Central Bank is likely to be more accommodative in the quarters ahead.

 

GBP/USD
Sterling slipped to $1.3818, pressured by stock market decline and signs of U.K. economic slowdown which some analysts felt may force the Bank of England to tone its hawkish tone in coming weeks.

 

USD/JPY
The Japanese yen dipped to 110.01 against the greenback as U.S Treasury yields rose after U.S. economic data indicated high inflation could persist for some time. 

 

AUD/USD
The Aussie dollar nose-dived to $0.7339 following an uptick in virus cases, and China’s fear of cyclone Typhoon Chanthu weigh on risk sentiment.

 

USD/CAD
The Canadian dollar gave back its earlier advance to 1.2683 versus a strong U.S dollar, despite Canada adding 90,200 jobs in August, while the unemployment rate dropped to 7.1%, which could support another cut by the Bank of Canada quantitative easing stimulus.

 

USD/ZAR
South African rand fell sharply to 14.26 per U.S dollar, undermined in part by U.S. Federal Reserve tapering fears after hawkish comments from U.S policymakers and solid U.S  producer prices in August.

 

USD/MUR
The local pair edged lower by 5 cents to 42.75(Selling) following intervention from the central bank on the domestic market on Friday.

Fundamental & Technical Data
Economic Indicators-Local Time

17:30 - EUR - ECB President Lagarde Speaks

 

Central Bank Interest Rates
Last Change
New Meeting
Federal Bank of U.S
-
16-Mar-2020
22-Sep-2021
European Central Bank
0.00%
10-Mar-2016
09-Sep-2021
Bank of England
0.10%
19-May-2020
23-Sep-2021
Bank of Japan
-0.10%
28-Jan-2016
21-Sep-2021
Reserve Bank of Australia
0.10%
03-Nov-2020
07-Sep-2021
S.Africa Reserve Bank
3.50%
23-Jul-2020
-
Reserve Bank of India
4.00%
22-May-2020
08-Oct-2021
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
R3
1.1879
1.3933
110.32
15.40
R2
1.1866
1.3911
110.16
14.89
R1
1.1838
1.3871
110.03
14.58
PP
1.1824
1.3849
109.87
14.24
S1
1.1797
1.3809
109.74
14.09
S2
1.1783
1.3787
109.58
13.92
S3
1.1756
1.3747
109.45
13.59
Technical Analysis - Forex Charts
EURGBP riding wave C
Chart updated on 21.06.2021
127% appears to be good level for short term rebound to the upside for GBPJPY
Chart posted on 21.07.2021
Weekly FX Market Analysis by Karishma Sewock Nobutsing on Radio One
Speak to our team
  • Allan Juste
    Head - Forex And Derivatives
    +230 5251 4855
  • Reshma Peerun Rajwani
    Head – Treasury Sales
    +230 403 5500
  • Karishma Sewock Nobutsing
    Senior Dealer - Treasury Sales
    (+230) 5943 9837
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.