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Daily Market Patrol

Market Patrol 24 March 2021

Creativity is intelligence having fun.

Albert Einstein
Indicative Selling Rates
against MUR
USD
20 Sep 2021
  • AUD
  • 31.22
  • 0.7295
  • BWP
  • 3.91
  • 0.0914
  • CAD
  • 33.73
  • 1.2691
  • CNY
  • 6.71
  • 6.3788
  • DKK
  • 6.84
  • 6.2566
  • EUR
  • 50.31
  • 1.1755
  • HKD
  • 5.59
  • 7.6619
  • INR
  • 0.59
  • 72.6819
  • JPY
  • 39.24
  • 109.0796
  • KES
  • 39.39
  • 108.6531
  • NZD
  • 30.30
  • 0.7080
  • NOK
  • 4.98
  • 8.5866
  • SGD
  • 32.02
  • 1.3367
  • ZAR
  • 2.94
  • 14.5487
  • SEK
  • 4.98
  • 8.5976
  • CHF
  • 46.22
  • 1.0799
  • GBP
  • 58.88
  • 1.3757
  • USD
  • 42.80
  • 1.0000
  • AED
  • 11.78
  • 3.6323
U.S dollar reigned across markets with potential U.S tax hikes, lockdown in Europe and China escalating tensions.
Fundamental News

EUR/USD
The euro turned south to a 4-month low at $1.1836 on eurozone growth fears after Germany extended its lockdown and urged its citizens to stay home over the Easter holiday.

 

GBP/USD
The Pound skidded to a 6-week low at $1.37 as negative COVID news from France and Germany raised fears about continental Europe’s third wave of virus infections washing up on British shores, coupled with Britain's jobless rate unexpected fall to 5.0% in the three months to January.

 

USD/JPY
The Yen was broadly stronger at 108.51 against the dollar as risk-aversion remains prominent amid Beijing has fallen short of the meeting to US purchases target as agreed on in the phase one trade deal. Both Yellen and Powell are also scheduled to testify to the Senate Banking Panel on Wednesday.


AUD/USD
The Aussie slide extended to $0.76 after Australian authorities issued fresh flood warnings and evacuation orders on Tuesday as torrential rains again battered several parts of the country.

 

USD/CAD
The Loonie plummeted to its lowest in nearly two weeks at 1.26 against the dollar as the oil price, one of Canada’s major exports, plunged on concerns over new pandemic curbs and slow vaccine rollouts in Europe added to oversupply uneasiness.

 

USD/ZAR
The Rand fell to 14.88 versus a stronger greenback on a flight to safety after Treasury Secretary Janet Yellen told lawmakers that future tax hikes would be needed to pay infrastructure projects and other public investment. South African markets open today after a Monday public holiday.

 

USD/MUR
On the local market, the USD/MUR pierced to 40.80 (selling) this morning.

Fundamental & Technical Data
Economic Indicators-Local Time

11:00 - GBP - CPI(YoY)

12:30 - EUR - German PMI (Mar)

13:30 - GBP - Composite PMI (Mar)

13:30 - GBP - Manufacturing PMI (Mar)

13:30 - GBP - Services PMI (Mar)

16:30 - USD - Core Durable Goods orders (MoM)(Feb)

18:00 - USD - Fed Chair Powell Testifies

18:30 - USD - Crude Oil Inventories

 

 

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
R3
1.2012
1.3956
109.31
15.56
R2
1.1976
1.3911
109.09
15.11
R1
1.1913
1.3831
108.84
14.97
PP
11878
1.3786
108.62
14.84
S1
1.1815
1.3706
108.37
14.64
S2
1.1779
1.3661
108.15
14.52
S3
1.1716
1.3580
107.90
14.39
Weekly FX Market Analysis 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.