Market Patrol 21 May 2021

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Jayshree Ullal

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

U.S dollar rendered Wednesday's gain as concerns at taper talk in Fed minutes ebbed.

Fundamental News

EUR/USD
The common currency rallied to $1.2231 after ECB's chief economist, Philip Lane, pushed back against talk of a new era of higher inflation in the eurozone.

GBP/USD
Sterling spiked from $1.4100 to $1.4183 following Confederation of British Industry's industrial orders balance reported the fastest growth in manufacturing orders since December 2017.

USD/JPY
Yen popped to 108.72 against the greenback on strong Japanese exports, combined with U.S. dollar rendering Wednesday's gains amid doubts the Fed will unwind pandemic easing policy sooner.

AUD/USD
The Aussie stays unimpressed at $0.7753 by upbeat Australia Retail Sales this morning.

USD/ZAR
South African rand soared to 13.98 as South African Reserve Bank left its repo rate unchanged at 3.5% in a unanimous decision on Thursday, saying the current lending rate supported economic recovery.

USD/MUR
The dollar-rupee inched by 5 cents to 40.80(selling), pressured by demand for FX from importers on the domestic market.

Fundamental & Technical Data

Economic Indicators-Local Time

10:00 - GBP - Retail Sales (MoM)(Apr)

11:30 - EUR - German Manufacturing PMI (May)

12:30 - GBP - Composite PMI (May)

12:30 - GBP - Manufacturing PMI (May)

12:30 - GBP - Services PMI (May)

15:00 - EUR - ECB President Lagarde Speaks

18:00 - USD - Existing Home Sales (Apr)

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

16-Jun-2021

European Central Bank

0.00%

10-Mar-2016

10-Jun-2021

Bank of England

0.10%

19-May-2020

24-Jun-2021

Bank of Japan

-0.10%

28-Jan-2016

18-Jun-2021

Reserve Bank of Australia

0.10%

03-Nov-2020

01-Jun-2021

S.Africa Reserve Bank

3.50%

23-Jul-2020

20-May-2021

Reserve Bank of India

4.00%

22-May-2020

06-Aug-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

1.2308

1.4313

109.69

15.09

1.2269

1.4253

109.50

14.78

1.2248

1.4222

109.13

14.60

1.2209

1.4162

108.94

14.22

1.2188

1.4131

108.57

13.80

1.2149

1.4070

108.38

13.2

1.2128

1.4039

108.01

13.03

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Head - Forex And Derivatives

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Head – Treasury Sales

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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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