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Daily Market Patrol

Market Patrol 27 September 2021

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Alexander Elder
Indicative Selling Rates
against MUR
USD
21 Oct 2021
  • AUD
  • 32.60
  • 0.7573
  • BWP
  • 3.94
  • 0.0915
  • CAD
  • 35.25
  • 1.2214
  • CNY
  • 6.83
  • 6.3076
  • DKK
  • 6.84
  • 6.2899
  • EUR
  • 50.38
  • 1.1702
  • HKD
  • 5.63
  • 7.6497
  • INR
  • 0.58
  • 73.7278
  • JPY
  • 38.04
  • 113.1606
  • KES
  • 39.30
  • 109.5385
  • NZD
  • 31.21
  • 0.7250
  • NOK
  • 5.27
  • 8.1705
  • SGD
  • 32.40
  • 1.3288
  • ZAR
  • 3.03
  • 14.1860
  • SEK
  • 5.07
  • 8.4831
  • CHF
  • 47.20
  • 1.0963
  • GBP
  • 59.70
  • 1.3867
  • USD
  • 43.05
  • 1.0000
  • AED
  • 11.85
  • 3.6325
The Shared currency barely moved following Germany’s election results show a narrow win for SPD
Fundamental News

EUR/USD
The Shared currency modestly gained to $1.1724 as Germany’s Social Democrats marginally won Sunday’s national election as per the projected results, and claimed a “clear mandate” to lead a government for the first time since 2005 and to end 16 years of conservative-led under Angela Merkel.

 

GBP/USD
The Cable nosedived to $1.3657 on back of the rise in the UK’s virus-led death tolls and manpower shortages due to the Brexit weighed on the British pound

.

USD/JPY
The Japanese yen ticked down to 110.59 versus the U.S dollar as the market eyes for the Bank of Japan Governor Haruhiko Kuroda speech later today.

 

AUD/USD
The Aussie dollar sidelined at $0.7282 although fears of the economic contagion from China Evergrande Group's debt situation receded slightly.

 

USD/CAD
The Loonie rose to 1.2630 per U.S dollar as oil cheers firmer sentiment, economic recovery hopes amid demand-supply fears.

 

USD/ZAR
South African rand lost ground to 14.91 against the U.S dollar on the back of a closed S.A financial markets on Friday for public holiday.

 

USD/MUR
The dollar-rupee unbothered at 42.85(selling) on the local market.

Fundamental & Technical Data
Economic Indicators-Local Time

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

19:00 - GBP - BoE Gov Bailey Speaks

 

 

 

Central Bank Interest Rates
Last Change
New Meeting
Federal Bank of U.S
0.00 -0.25%
16-Mar-2020
22-Sep-2021
European Central Bank
0.00%
10-Mar-2016
09-Sep-2021
Bank of England
0.10%
19-May-2020
23-Sep-2021
Bank of Japan
-0.10%
28-Jan-2016
21-Sep-2021
Reserve Bank of Australia
0.10%
03-Nov-2020
07-Sep-2021
S.Africa Reserve Bank
3.50%
23-Jul-2020
-
Reserve Bank of India
4.00%
22-May-2020
08-Oct-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
1.1792
1.3797
111.46
15.40
R2
1.1769
1.3769
111.13
14.89
R1
1.1746
1.3719
110.93
14.58
PP
1.1723
1.3689
110.60
14.24
S1
1.1700
1.3641
110.40
14.09
S2
1.1677
1.3611
110.07
13.92
S3
1.1654
1.3553
109.87
13.59
Cable currently riding wave B ( triangle) of a larger retracement A-B-C
Chart posted on 23.09.2021

The pound sterling is hovering near its one-month low around 1.3620 ahead of FOMC and BOE monetary policy meetings. The pound met with some fresh supply in the zone 1.3670-80 which could be a key resistance in the near term followed by 1.3800.

 

On the technical side, GBPUSD appears to be moving in a consolidation zone. As per Elliott wave principle, it appears that GBPUSD is currently riding a wave B ( triangle) of a corrective move A-B-C which could put more pressure to the downside in the near term.

 

A break  and close of 1.3600 opens the door towards 1.3100 in the medium term. A breach of wave A of triangle  (1.3980) invalidates the move and can be bullish in the medium term.

 

 

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.