Market Patrol 30 August 2021

In this business, if you’re good, you’re right six times out of ten. You’re never going to be right nine times out of ten.

Peter Lynch

Indicative Selling Rates
against MUR
USD

19 Apr 2024

AUD
30.42
0.6459

BWP
3.47
0.0737

CAD
34.46
1.3664

CNY
6.60
7.1402

DKK
6.82
6.9093

EUR
50.34
1.0691

HKD
6.10
7.7148

INR
0.57
82.1874

JPY
30.85
152.6385

KES
35.97
130.9049

NZD
27.96
0.5937

NOK
4.35
10.8251

SGD
34.91
1.3490

ZAR
2.53
18.6446

SEK
4.35
10.8361

CHF
52.18
1.1081

GBP
58.79
1.2484

USD
47.09
1.0000

AED
13.02
3.6162

U.S Dollar knocked down on Jerome Powell's dovish speech

Fundamental News

EUR/USD
The Shared Currency extended gains to $1.1804 in the wake of U.S. Federal Reserve Jerome Powell's dovish speech on bond tapering at the Jackson Hole symposium on Friday.

GBP/USD
The sterling rocketed to $1.3771 on the fresh weakness in the US dollar.

USD/JPY
The Japanese yen modestly gained to 109.75 per U.S dollar as investors await Japanese Retails sales data, US Pending Home sales data to gauge the market sentiment.

AUD/USD
The Aussie dollar rose to $0.7301 despite covid and geopolitical jitters.

USD/CAD
The Canadian dollar gained momentum to 1.2628 versus the greenback as oil price picked up after a storm hit US oil ports.

USD/ZAR
The South African rand firmed at 14.72 against the U.S dollar after U.S. Federal Reserve Chair Jerome Powell signaled that the bank's monthly $120 billion bond buying programme will continue, allaying investors' fears of a tapering and boosting riskier currencies.

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

Fundamental & Technical Data

Economic Indicators-Local Time

18:00 - USD - Pending Home Sales (MoM) (Jul)

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

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

1.1887

1.3900

110.65

15.84

1.1847

1.3841

110.46

15.54

1.1820

1.3799

110.16

15.38

1.1718

1.3740

109.97

15.25

1.1753

1.3698

109.67

14.93

1.1711

1.3639

109.48

14.66

1.1686

1.3597

109.18

14.21

Technical Analysis - Forex Charts

EURGBP riding wave C

Chart updated on 21.06.2021

127% appears to be good level for short term rebound to the upside for GBPJPY

Chart posted on 21.07.2021

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Allan Juste

Head - Forex And Derivatives

+230 5251 4855

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Head – Treasury Sales

+230 403 5500

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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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