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Treasury

Daily Market Patrol

Market Patrol 3 August 2021

When a beginner wins he feels brilliant and invincible Then he takes wild risk and loses everything

Alexander Elder
Indicative Selling Rates
against MUR
USD
28 Sep 2021
  • AUD
  • 31.59
  • 0.7363
  • BWP
  • 3.87
  • 0.0903
  • CAD
  • 34.32
  • 1.2499
  • CNY
  • 6.74
  • 6.3691
  • DKK
  • 6.85
  • 6.2658
  • EUR
  • 50.36
  • 1.1738
  • HKD
  • 5.60
  • 7.6564
  • INR
  • 0.59
  • 72.6942
  • JPY
  • 38.89
  • 110.3223
  • KES
  • 39.39
  • 108.9000
  • NZD
  • 30.37
  • 0.7079
  • NOK
  • 5.08
  • 8.4481
  • SGD
  • 32.04
  • 1.3390
  • ZAR
  • 2.92
  • 14.6737
  • SEK
  • 4.99
  • 8.6006
  • CHF
  • 46.61
  • 1.0864
  • GBP
  • 58.99
  • 1.3752
  • USD
  • 42.90
  • 1.0000
  • AED
  • 11.81
  • 3.6324
The Australian dollar spiked higher on hawkish Reserve Bank of Australia's decision this morning.
Fundamental News

EUR/USD
The Shared currency was modestly higher to $1.1879 after the euro area economy rose to 2.0% in June quarterly, beating the market expectations of 1.5% growth.

 

GBP/USD
The Cable soared to $1.3898 helped by the UK Markit Manufacturing, which improved to 60.4 in July, as anticipated.

 

USD/JPY
The Japanese yen climbed to 109.16 versus the greenback on rising concerns about the coronavirus Delta variant prompted traders to wind back bets on a strong global economic recovery.

 

AUD/USD
The Aussie dollar jumped to $0.7406 after the RBA announced no change in the benchmark interest rate and kept tapering of bond-buying on the table, despite growing coronavirus worries in Australia.

 

USD/CAD
The Loonie extended losses to 1.2519 against the U.S dollar on the back of a sharp decline in crude oil price.

 

USD/ZAR
South Africa's rand firmed at 14.44 per U.S dollar boosted by commodity prices and soft U.S manufacturing data.

 

USD/MUR
The dollar-rupee stayed put at 42.90(Selling).

Fundamental & Technical Data
Economic Indicators-Local Time

13:00 - EUR - PPI (YoY) (Jun)

13:00 - EUR - PPI (MoM) (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
1.1931
1.3978
110.24
14.99
R2
1.1914
1.3955
110.01
14.81
R1
1.1893
1.3921
109.66
14.62
PP
1.1876
1.3898
109.43
14.57
S1
1.1855
1.3864
109.08
14.35
S2
1.1838
1.3841
108.85
14.13
S3
1.1817
1.3807
108.50
13.99
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 Technical Analysis on GBP by Aassan Deedarun 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.