Market Patrol 31 May 2021

There is a fountain of youth: It is your mind, your talents, the creativity you bring to your life.

Sophia Loren

Indicative Selling Rates
against MUR
USD

25 Apr 2024

AUD
30.77
0.6565

BWP
3.43
0.0733

CAD
34.51
1.3581

CNY
6.56
7.1473

DKK
6.83
6.8649

EUR
50.42
1.0758

HKD
6.08
7.7125

INR
0.57
82.0612

JPY
30.50
153.6760

KES
35.48
132.1115

NZD
28.10
0.5994

NOK
4.36
10.7536

SGD
34.80
1.3468

ZAR
2.52
18.6007

SEK
4.37
10.7251

CHF
51.57
1.1003

GBP
58.71
1.2526

USD
46.87
1.0000

AED
12.96
3.6157

The U.S dollar trimmed gains following budget announcement from U.S. President Biden.

Fundamental News

EUR/USD
The single currency surged from $1.2130 to $1.2200 as upbeat U.S Consumer price index data on Friday appeared to reinforce investors' inflation concerns. Market awaits German’s Harmonized Index of Consumer Prices for May due today.

GBP/USD
Sterling retested near $1.42 in the wake of Bank of England policymaker Gertjan Vileghe’s comments on a probable rate hike.

USD/JPY
The Japanese yen bolstered to 109.70 from 110.20 per greenback on the unveiling of US President Joe Biden’s $6.0 trillion budget and upbeat GDP forecasts, trimming the safe-haven bid of the US dollar.

AUD/USD
The Aussie vaulted to $0.7724 on broad-based U.S dollar selling, while China’s headline NBS Manufacturing PMI eased to 51, with 51.1 prior.

USD/ZAR
South African rand popped to 13.77 against the dollar as bets of lower lending rates for longer in the United States outweighed jitters over rising inflation.

USD/MUR
The dollar-rupee stayed put at 40.88(Selling) on the local market.

Fundamental & Technical Data

Economic Indicators-Local Time

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

16-Jun-2021

European Central Bank

0.00%

10-Mar-2016

10-Jun-2021

Bank of England

0.10%

19-May-2020

24-Jun-2021

Bank of Japan

-0.10%

28-Jan-2016

18-Jun-2021

Reserve Bank of Australia

0.10%

03-Nov-2020

01-Jun-2021

S.Africa Reserve Bank

3.50%

23-Jul-2020

20-May-2021

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

1.2293

1.4296

110.56

15.09

1.2249

1.4253

110.38

14.78

1.2221

1.4222

110.11

14.60

1.2177

1.4179

109.93

14.22

1.2148

1.4148

109.65

13.80

1.2105

1.4105

109.47

13.2

1.2076

1.4073

109.20

13.03

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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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