Market Patrol 9 March 2021

Money is a terrible master but an excellent servant.

P.T. Barnum

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

EUR/USD dropped to a low of $1.1835 as sell-off continued, amid rising U.S bond yields

Fundamental News

EUR/USD
The single currency hammered to a low of $1.1835 on the back of a stronger U.S. dollar, with the greenback taking its cues primarily from higher US bond yields, particularly in the treasury curve’s belly.

GBP/USD
Sterling meandered at $1.3830 supported by progress in the UK's COVID-19 vaccination programme despite BoE Bailey's comments urging "cautionary realism" about Britain's economic prospects.

USD/JPY
Japanese Yen lost ground to 109.20 per dollar, although Japan GDP meant that the economy shrank over the full year, its first contraction since 2009.

AUD/USD
Aussie plummeted to $0.7649, although an upbeat NAB Business survey. Market awaits RBA Lowe speech on Wednesday.

USD/ZAR
Rand plunged to 17.57 against the buck amid rising U.S Treasury yields. U.S Federal Reserve will release its fresh projections when it concludes its two-day policy meeting on March 17.

USD/MUR
The dollar-rupee soared by 5 cents to 40.40(selling)powered by the Bank of Mauritius's intervention yesterday.

Fundamental & Technical Data

Economic Indicators-Local Time

16:00 - USD- EIA Short Term Energy Outlook

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

1.1991

1.3920

109.81

15.70

1.1961

1.3893

109.38

15.46

1.1903

1.3855

109.14

15.34

1.1874

1.3828

108.71

15.23

1.1816

1.3791

108.48

14.98

1.1787

1.3763

108.04

14.86

1.1729

1.3726

107.81

14.39

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Head - Forex And Derivatives

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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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