Market Patrol 4 March 2021

You will observe that the stories told are all about money seekers, not about money finders.

Edgar Allan Poe

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 spiked across the board amid rising U.S yields, Powell eyed.

Fundamental News

EUR/USD
The common currency recovered from $1.1990 to $1.2057 despite initially U.S ADP and ISM services reports disappointed expectations.

GBP/USD
Cable dropped to $1.3960, as the European Union promised legal action on Wednesday after the British government unilaterally extended a grace period for checks on food imports to Northern Ireland, a move Brussels said violated terms of Britain's divorce deal.

USD/JPY
Yen plummeted to 107.15 per greenback ahead of Fed Chair Powell speech at 17.05 GMT, eyeing any comments on rising yields and inflation expectations.

AUD/USD
Aussie picked up to $0.7805 on upbeat Australian trade numbers, ignoring poor retail sales data.

USD/ZAR
South African rand plummeted to 15.05 against the dollar after South African private sector activity expanded again in February but at a slightly slower pace than the previous month.

USD/MUR
The dollar-rupee remains flat at 40.25(selling) on the domestic market.

Fundamental & Technical Data

Economic Indicators-Local Time

13:30 - GBP - Construction PMI (Feb)

17:30 - USD - Initial Jobless Claims

21:05 - USD - Fed Chair Powell Speaks

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

17-Mar-2021

European Central Bank

0.00%

10-Mar-2016

03-Mar-2021

Bank of England

0.10%

19-May-2020

04-Feb-2021

Bank of Japan

-0.10%

28-Jan-2016

18-Mar-2021

Reserve Bank of Australia

0.10%

03-Nov-2020

02-Mar-2021

S.Africa Reserve Bank

3.50%

23-Jul-2020

Reserve Bank of India

4.00%

22-May-2020

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

1.2174

1.4084

107.67

15.50

1.2143

1.4045

107.41

15.29

1.2103

1.3999

107.20

15.19

1.2073

1.3960

106.94

15.02

1.2032

1.3913

106.76

14.88

1.2002

1.3874

106.47

14.79

1.1962

1.3828

106.25

14.69

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Allan Juste

Head - Forex And Derivatives

+230 5251 4855

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Reshma Peerun Rajwani

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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