Internet Banking
Click icon again to close

Treasury

Daily Market Patrol

Market Patrol 27 July 2021

He who has a why to live for can bear almost any how.

Friedrich Nietzche
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
The Fiber bolstered to $1.18, shrugging off downbeat Ifo German business climate.
Fundamental News

EUR/USD
The euro bolstered to $1.1800 despite a survey from the Ifo Institute showed German business morale fell unexpectedly in July on continuing supply chain worries and rising COVID-19 infections.

 

GBP/USD
Sterling surged to $1.3825 as coronavirus infections in Britain receded, despite PM Johnson-led government rejected the European Union’s efforts to placate tensions over the Northern Ireland protocol as the UK demands renegotiation of the Brexit deal. 

 

USD/JPY
Japanese yen soared to 110.20 per dollar, triggered by the global flight to safety, over worries that the spread of the highly contagious Delta variant of the coronavirus could derail the global economic recovery.

 

USD/CAD
The Loonie wiggled near 1.2550 against its U.S counterpart, ahead of the release of the Core Consumer Price Index by the Bank of Canada on Wednesday.

 

AUD/USD
Aussie inched higher to $0.7374, as Victoria is up for easing the lockdown restrictions recording the lowest daily infections since July 15. Comments from RBA Assistant Governor Debelle at 16:35 eyed.

 

USD/ZAR
South Africa's rand recovered from early losses on Monday from 14.99 to 14.78 per dollar, with concerns over rising COVID-19 infections setting a cautious tone in global markets ahead of the U.S. Federal Reserve's two-day meeting today.

 

USD/MUR
The local pair remained unchanged at 42.95(selling) on the Mauritian market.

Fundamental & Technical Data
Economic Indicators-Local Time

16:30 - USD - Core Durable Goods Orders (MoM)(Jun)

18:00 - USD - CB Consumer Confidence (Jul)

 

 

 

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
1.1880
1.3951
111.07
14.78
R2
1.1849
1.3892
110.83
14.65
R1
1.1826
1.3855
110.60
14.61
PP
1.1795
1.3796
110.36
14.51
S1
1.1772
1.3759
110.13
14.43
S2
1.1741
1.3700
109.89
14.30
S3
1.1718
1.3663
109.67
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 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.