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Daily Market Patrol

Market Patrol 22 July 2021

People wanting to emulate your ideas is always flattery.

Scott Watterson
Indicative Selling Rates
against MUR
USD
14 Oct 2021
  • AUD
  • 32.08
  • 0.7451
  • BWP
  • 3.88
  • 0.0901
  • CAD
  • 34.92
  • 1.2328
  • CNY
  • 6.78
  • 6.3532
  • DKK
  • 6.81
  • 6.3233
  • EUR
  • 50.11
  • 1.1639
  • HKD
  • 5.62
  • 7.6544
  • INR
  • 0.58
  • 74.1378
  • JPY
  • 38.22
  • 112.6389
  • KES
  • 39.37
  • 109.3435
  • NZD
  • 30.30
  • 0.7039
  • NOK
  • 5.16
  • 8.3410
  • SGD
  • 32.26
  • 1.3347
  • ZAR
  • 2.96
  • 14.5221
  • SEK
  • 5.02
  • 8.5828
  • CHF
  • 46.96
  • 1.0907
  • GBP
  • 59.04
  • 1.3714
  • USD
  • 43.05
  • 1.0000
  • AED
  • 11.85
  • 3.6325
Bank of Mauritius' intervention yesterday pulled back USD/MUR to 42.95(selling).
Fundamental News

EUR/USD
The single currency recoup losses from $1.1750 to $1.1793, amid currency markets are looking ahead to the European Central Bank's meeting at 15:45.

 

GBP/USD
Sterling surged from $1.3589 to $1.3713, despite mounting Delta variant cases in Britain and confusion about the lifting of restrictions in England.

 

USD/JPY
Yen soared to 110.13 per dollar on risk appetite amid inflation fears and concerns about the highly-contagious coronavirus variant.

 

USD/CAD
Loonie jostled to 1.2583 per dollar as oil hung on to most of Wednesday's sharp price rise, its biggest one-day gain in three months.

 

AUD/USD
Aussie climbed to $0.7370, although Australia registers the highest COVID-19 infections in 10 months, diminishing hopes that lockdown restrictions would be lifted as more than half the country's population was subject to stay-at-home orders.

 

USD/ZAR
Rand bolstered to 14.57 against the greenback, although South Africa's headline consumer price inflation slowed to 4.9% year on year in June from 5.2% in May.

 

USD/MUR
The dollar-rupee cascaded to 42.95(selling) on Bank of Mauritius intervention yesterday.

Fundamental & Technical Data
Economic Indicators-Local Time

15:45 - AUD - RBA Monetary Policy Statement

15:45 - EUR - Deposit Facility Rate (Jul)

15:45 - EUR - ECB Interest Rate Decision (Jul)

15:45 - EUR - ECB Marginal Lending Facility

15:45 - EUR - ECB Monetary Policy Statement

16:30 - USD - Initial Jobless Claims

16:30 - EUR - ECB Press Conference

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

 

 

 

 

 

Central Bank Interest Rates
Last Change
New Meeting
Federal Bank of U.S
0.00-0.25%
16-Mar-2020
28-Jul-2021
European Central Bank
0.00%
10-Mar-2016
22-Jul-2021
Bank of England
0.10%
19-May-2020
05-Aug-2021
Bank of Japan
-0.10%
28-Jan-2016
16-Jul-2021
Reserve Bank of Australia
0.10%
03-Nov-2020
06-Jul-2021
S.Africa Reserve Bank
3.50%
23-Jul-2020
-
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
R3
1.1852
1.3804
110.73
14.78
R2
1.1827
1.3747
110.35
14.65
R1
1.1805
1.3687
110.10
14.61
PP
1.1780
1.3630
109.72
14.51
S1
1.1758
1.3570
109.47
14.43
S2
1.1733
1.3513
109.09
14.30
S3
1.1711
1.3453
108.84
14.08
Technical Analysis - Forex Charts
EURGBP riding wave C
Chart updated on 21.06.2021

EURGBP appears to be riding into a corrective wave  A-B-C after completing 5 waves to the downside. Yesterday, we observed an impulsive break out  of wave B  channel  which could lead EURGBP towards final wave C as per Elliott wave analysis. we remain bullish on EURGBP with stop loss below 0.8500 targeting 0.8757 , 0.8826 and ultimately 0.8915.

 

 

127% appears to be good level for short term rebound to the upside for GBPJPY
Chart posted on 21.07.2021

After rallying towards a high of 156.07 end of May 2021, we saw a three wave corrective move to the downside in GBPJPY which possibly could  be the end of a corrective wave A-B-C  before a new high is formed  or possibly  part of a larger corrective combination wave W-X-Y as per Elliott wave perspective.

 

127% appears to be good level for short term rebound to the upside.

 

Approaching 149.00/149.10 could be an opportunity to long the market with stop below 148.30 with  targets  levels 150 , 150.71 and 151.70.

Weekly Market Update 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.