Market Patrol 15 January 2021

Opportunities don't happen. You create them.

Chris Grosser

Indicative Selling Rates
against MUR
USD

19 Apr 2024

AUD
30.42
0.6459

BWP
3.47
0.0737

CAD
34.46
1.3664

CNY
6.60
7.1402

DKK
6.82
6.9093

EUR
50.34
1.0691

HKD
6.10
7.7148

INR
0.57
82.1874

JPY
30.85
152.6385

KES
35.97
130.9049

NZD
27.96
0.5937

NOK
4.35
10.8251

SGD
34.91
1.3490

ZAR
2.53
18.6446

SEK
4.35
10.8361

CHF
52.18
1.1081

GBP
58.79
1.2484

USD
47.09
1.0000

AED
13.02
3.6162

Dovish comments from Fed’s Powell capped U.S dollar gains

Fundamental News

EUR/USD
The Shared currency recovered from a low of $1.2109 to $1.2140 after Federal Reserve Chair Jerome Powell struck a dovish tone, saying the U.S. central bank is not raising interest rates anytime soon and rejecting suggestions the Fed might start reducing its bond purchases in the near term.

GBP/USD
The Pound Sterling extended gains to $1.3670 on pushed-back expectations of negative interest rates and hopes for a quicker economic recovery in Britain due to its vaccination drive buoyed the currency.

USD/JPY
The Japanese Yen rose to 103.80 against the greenback following U.S Initial Jobless claims came below expectations.

AUD/USD
The Aussie dollar traded flat at $0.7753 following the US President-elect Joe Biden's stimulus announcement was in line with expectations earlier today.

USD/ZAR
South African rand gained to 15.10 against the greenback on a broad U.S dollar weakness and ahead of South Africa's PPI data due next week.

USD/MUR
The dollar-rupee rose by 25 cents to 39.95(selling) on the domestic market following the central bank's intervention.

Fundamental & Technical Data

Economic Indicators-Local Time

11:00 - GBP - GDP (MoM)

11:00 - GBP - Monthly GDP 3M/3M Change

17:30 - USD - Core Retail Sales (MoM) (Dec)

17:30 - USD - Retail Sales (MoM) (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

1.2252

1.3817

104.77

15.66

1.2215

1.3764

104.48

15.46

1.2185

1.3724

104.14

15.25

1.2148

1.3671

103.85

15.13

1.2118

1.3631

103.51

15.07

1.2081

1.3578

103.22

14.93

1.2051

1.3538

102.88

14.61

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Allan Juste

Head - Forex And Derivatives

+230 5251 4855

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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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