Market Patrol 17 December 2021

What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.

William O'Neil

Indicative Selling Rates
against MUR
USD

03 May 2024

AUD
31.03
0.6638

BWP
3.36
0.0720

CAD
34.49
1.3553

CNY
6.55
7.1406

DKK
6.83
6.8459

EUR
50.43
1.0787

HKD
6.07
7.6974

INR
0.57
82.0550

JPY
30.90
151.2966

KES
35.26
132.5927

NZD
28.16
0.6023

NOK
4.35
10.7493

SGD
34.91
1.3393

ZAR
2.60
17.9742

SEK
4.37
10.7042

CHF
51.73
1.1065

GBP
58.96
1.2613

USD
46.75
1.0000

AED
12.93
3.6160

U.S dollar down on BOE hike and ECB hawkish stance.

Fundamental News

EUR/USD
The Shared currency surged to $1.3141 after the ECB outlined plans toward removing stimulus over coming quarters, although it also emphasized policy flexibility.

GBP/USD
The Cable rocketed to $1.3329 following a surprise interest rate hike from the Bank of England to 0.25% from 0.1%.

USD/JPY
The Japanese yen jumped out of the blocks to 113.52 per U.S dollar as the Bank of Japan left its policy settings unadjusted once again but decided to scale back pandemic stimulus upon reaching March 2022 deadline.

AUD/USD
The Aussie dollar sailed higher to $0.7163 despite a recent jump in virus variant, pushing authorities to introduce stricter activity restrictions in Queensland.

USD/CAD
The Loonie gained to 1.2797 against the U.S dollar on sentiment lurking around prospects of hawkish BoC 2022.

USD/ZAR
South African rand rose to 15.94 against the greenback on a weaker U.S dollar and a closed South African market.

USD/MUR
The dollar-rupee leapt by 5 cents to 43.60(selling).

Fundamental & Technical Data

Economic Indicators-Local Time

11:00 - GBP - Retail Sales (MoM) (Nov)

13:00 - EUR - German Ifo Business Climate Index

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

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00%-0.25%

16-Mar-2020

European Central Bank

0.00%

10-Mar-2016

16-Dec-2021

Bank of England

0.25%

16-Dec-2021

Bank of Japan

-0.10%

28-Jan-2016

17-Dec-2021

Reserve Bank of Australia

0.10%

03-Nov-2020

05-Jan-2022

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

1.1447

1.3516

114.80

16.13

1.1403

1.3445

114.52

15.90

1.1368

1.3384

114.11

15.78

1.1324

1.3313

113.83

15.67

1.1289

1.3252

113.42

15.43

1.1245

1.3181

113.14

15.21

1.1210

1.3120

112.73

14.85

Technical Analysis - Forex Charts

The dollar Index extends its intense rebound near one year high

Chart updated on 30.09.2021

GBPUSD riding wave C after completion of triangular retracement of wave B

Chart posted on 30.09.2021

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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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