Market Patrol 18 March 2021

There is no harm in being sometimes wrong - especially if one is promptly found out

John Maynard Keynes

Indicative Selling Rates
against MUR
USD

25 Apr 2024

AUD
30.77
0.6565

BWP
3.43
0.0733

CAD
34.51
1.3581

CNY
6.56
7.1473

DKK
6.83
6.8649

EUR
50.42
1.0758

HKD
6.08
7.7125

INR
0.57
82.0612

JPY
30.50
153.6760

KES
35.48
132.1115

NZD
28.10
0.5994

NOK
4.36
10.7536

SGD
34.80
1.3468

ZAR
2.52
18.6007

SEK
4.37
10.7251

CHF
51.57
1.1003

GBP
58.71
1.2526

USD
46.87
1.0000

AED
12.96
3.6157

The Greenback tumbled across the board after Fed sticks to dovish tone in its policy decision

Fundamental News

EUR/USD
The Single currency poked to a high of $1.1987 bolstered by the Fed's strong economic forecast and Powell's comments that it is too early to discuss tapering-off measures.

GBP/USD
The Pound trading higher at $1.3936 ahead of the B.O.E policy meeting today despite Britain could see a significant reduction in the amount of COVID-19 vaccines available at the end of the month due to a cut in manufacturing supply.

USD/JPY
The Japanese yen gained to 108.93 against the greenback as the Bank of Japan is expected to slightly widen its long-term interest rates band to allow the rates to move around the 0% target.

AUD/USD
The Aussie gained rose to a two-week top of $0.7835, driven by an upbeat Australian jobs report earlier today.

USD/ZAR
The Rand pumped-up to 14.68 versus a weaker U.S dollar after the U.S. Fed pledged to keep interest rates near zero for years to come.

USD/MUR
The dollar-rupee wobbled near its high at 40.70 selling, traumatized after recent BOM's intervention on Tuesday.

Fundamental & Technical Data

Economic Indicators-Local Time

12:00 - EUR - ECB President Lagarde speaks

16:00 - GBP - BoE Interest rate decision

16:00 - GBP - BoE MPC Meeting Minutes

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

17-Mar-2021

European Central Bank

0.00%

10-Mar-2016

03-Mar-2021

Bank of England

0.10%

19-May-2020

04-Feb-2021

Bank of Japan

-0.10%

28-Jan-2016

18-Mar-2021

Reserve Bank of Australia

0.10%

03-Nov-2020

02-Mar-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

1.2114

1.4128

109.79

15.70

1.2050

1.4050

109.56

15.46

1.2015

1.4008

109.21

15.34

1.1951

1.3930

108.98

15.23

1.1916

1.3888

108.63

14.98

1.1852

1.3810

108.40

14.86

1.1817

1.3768

108.05

14.39

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Allan Juste

Head - Forex And Derivatives

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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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