Market Patrol 23 April 2021

Silence is sometimes the best answer.

Dalai Lama

Indicative Selling Rates
against MUR
USD

24 Apr 2024

AUD
30.84
0.6580

BWP
3.43
0.0732

CAD
34.58
1.3552

CNY
6.56
7.1461

DKK
6.83
6.8651

EUR
50.42
1.0758

HKD
6.07
7.7178

INR
0.57
81.9769

JPY
30.62
153.0506

KES
35.48
132.1115

NZD
28.11
0.5997

NOK
4.40
10.6625

SGD
34.83
1.3457

ZAR
2.54
18.4847

SEK
4.40
10.6565

CHF
51.73
1.1037

GBP
58.66
1.2515

USD
46.87
1.0000

AED
12.96
3.6156

U.S dollar perked higher against a basket of currencies on fears of U.S. capital gains tax hike.

Fundamental News

EUR/USD
The euro initially toyed with a gain to $1.2070 before turning its tail to $1.2020 after ECB President Christine Lagarde squashed expectations that policymakers will start to consider a tapering of bond purchase due to an improving economic outlook.

GBP/USD
Sterling fell to $1.3850, undermined by an intrepid U.S. dollar after a report from the U.S. government that weekly jobless claims declined further, boosting expectations for blockbuster U.S. job growth in April.

USD/JPY
The Yen tiptoed higher to 107.89 versus the greenback, unfazed by comments from BoJ's Kuroda that Japan's economy is expanding gradually due to aggressive monetary easing, benefiting banks.

AUD/USD
Aussie went as low as $0.7693 before recovering to $0.7732 in sympathy after Biden announced plans to double capital gains tax for people on incomes of more than $1 million.

USD/ZAR
South Africa's rand weakened marginally to 14.28 per dollar, weighed by the impact on economic recovery of delayed vaccine rollouts.

USD/MUR
The local currency oscillated at 40.80(selling) on the local market.

Fundamental & Technical Data

Economic Indicators-Local Time

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

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

12:30 - GBP - Composite, Manufacturing, Services PMI

18:00 - USD - New Home Sales (Mar)

18:30 - EUR - ECB President Lagarde Speaks

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

28-Apr-2021

European Central Bank

0.00%

10-Mar-2016

22-Apr-2021

Bank of England

0.10%

19-May-2020

06-May-2021

Bank of Japan

-0.10%

28-Jan-2016

27-Apr-2021

Reserve Bank of Australia

0.10%

03-Nov-2020

06-Apr-2021

S.Africa Reserve Bank

3.50%

23-Jul-2020

Reserve Bank of India

4.00%

22-May-2020

07-Apr-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

1.2134

1.4043

108.61

15.09

1.2102

1.3996

108.42

14.78

1.2058

1.3918

108.20

14.60

1.2026

1.3871

108.00

14.22

1.1983

1.3792

107.78

13.80

1.1950

1.3745

107.59

13.2

1.1907

1.3667

107.36

13.03

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Allan Juste

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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