Market Patrol 2 March 2022

What's the difference between a pro and an amateur? Professionals look for what's wrong with a setup. Amateurs only look for what's right.

Mark Harila

Indicative Selling Rates
against MUR
USD

13 Sep 2024

AUD
31.67
0.6825

BWP
3.54
0.0763

CAD
34.47
1.3462

CNY
6.73
6.8936

DKK
6.99
6.6344

EUR
51.70
1.1141

HKD
6.04
7.6821

INR
0.56
82.5855

JPY
33.54
138.3498

KES
36.67
126.5504

NZD
28.94
0.6238

NOK
4.43
10.4807

SGD
36.28
1.2789

ZAR
2.71
17.1267

SEK
4.58
10.1253

CHF
54.95
1.1843

GBP
61.31
1.3214

USD
46.40
1.0000

AED
12.93
3.5875

The Shared currency slumped on fears of recession in Europe, USDMUR hits all time high.

Fundamental News

EUR/USD
The Shared currency languished to $1.1105 as the war in Ukraine, and the resulting spike in energy prices have darkened the outlook for European growth. Fed chair Jerome Powell’s testimony eyed later today.

GBP/USD
The Cable reignited the downtrend to $1.3305 on risk aversion after the G-7 showed strong determination to force further financial pressure on Russia.

USD/JPY
The Japanese yen extended its gains to 115.07 against the U.S. dollar amid plummeting U.S. Treasury yields.

AUD/USD
The Aussie sailed higher to $0.7267 after the Reserve Bank of Australia left rates at 0.1% and reiterated it would be patient on policy even as it remained upbeat on the economic outlook.

USD/CAD
The Loonie swung back and forth before opening at 1.2721 versus the greenback this morning, ahead of the key Bank of Canada monetary policy meeting.

USD/ZAR
South African rand tumbled to 15.40 per U.S. dollar as the Ukraine-Russia crisis kept nerves high.

USD/MUR
The dollar-rupee rose to an all-time high at 44.20 (Selling).

Fundamental & Technical Data

Economic Indicators-Local Time

12:55 - EUR - German Unemployment Change (Feb)

14:00 - EUR - CPI (YoY)(Feb)

17:15 - USD - ADP Nonfarm Employment Change

19:00 - CAD - BoC Interest Rate Decision

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00%-0.25%

16-Mar-2020

16-Mar-2022

European Central Bank

0.00%

10-Mar-2016

31-Mar-2022

Bank of England

0.50%

03-Feb-2022

17-Mar-2022

Bank of Japan

-0.10%

28-Jan-2016

18-Mar-2022

Reserve Bank of Australia

0.10%

03-Nov-2020

01-Mar-2022

S.Africa Reserve Bank

4.00%

28-Jan-2022

24-Mar-2022

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

1.1351

1.3542

115.82

15.77

1.1292

1.3490

115.25

15.66

1.1208

1.3407

115.23

15.48

1.1149

1.3355

114.96

15.37

1.1065

1.3272

114.64

15.16

1.1006

1.3220

114.37

15.04

1.0922

1.3137

114.04

14.86

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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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