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Daily Market Patrol

Market Patrol 21 January 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
17 May 2022
  • AUD
  • 30.68
  • 0.7060
  • BWP
  • 3.59
  • 0.0826
  • CAD
  • 34.13
  • 1.2730
  • CNY
  • 6.50
  • 6.6860
  • DKK
  • 6.20
  • 7.0128
  • EUR
  • 45.55
  • 1.0484
  • HKD
  • 5.63
  • 7.7240
  • INR
  • 0.57
  • 76.4983
  • JPY
  • 33.95
  • 127.9770
  • KES
  • 37.92
  • 114.5693
  • NZD
  • 27.75
  • 0.6386
  • NOK
  • 4.55
  • 9.5595
  • SGD
  • 31.59
  • 1.3756
  • ZAR
  • 2.76
  • 15.7149
  • SEK
  • 4.39
  • 9.9082
  • CHF
  • 43.70
  • 1.0057
  • GBP
  • 53.85
  • 1.2394
  • USD
  • 43.45
  • 1.0000
  • AED
  • 11.96
  • 3.6327
U.S dollar sailed higher on expectation of a hawkish FOMC meeting next week.
Fundamental News

EUR/USD
The Shared currency pared gains to $1.1325 ahead of the U.S Federal's two-day policy meeting starting on Tuesday next week. Investors will look for clues to the central bank timeline for both interest rate hikes and asset tapering.

 

GBP/USD
The Cable slipped to $1.3594 amid contrasting signals concerning Brexit and the Bank of England's next move, ahead of the key U.K. Retail Sales for December today.

 

USD/JPY
The Japanese yen shot up to 113.84 against the U.S. dollar despite downbeat signals from the Bank of Japan monetary policy meeting minutes, as well as mixed inflation data from Japan.

 

AUD/USD
The Aussie dollar sank to $0.7196 on surging covid cases in Australia and U.S. Fed-RBA divergence to cap the upside.

 

USD/CAD
The Loonie boosted to $1.2518 per U.S dollar as WTI clocked fresh seven-year highs.

 

USD/ZAR
The rand strengthened to 15.22 versus the greenback on the growing expectation that the South African Reserve Bank's first-rate decision of 2022 is due on Jan. 27, with economists predicting a 25 basis point increase in the repo rate to 4.00%.

 

USD/MUR
The dollar-rupee idled at 43.70 (Selling) on the local market.

Fundamental & Technical Data
Economic Indicators-Local Time

10:00 - GBP - Retail Sales (MoM) (Dec)

17:30 - CAD - Core Retail Sales (MoM)(Nov)

20:30 - USD - Fed Chair  Yellen Speaks

Central Bank Interest Rates
Last Change
New Meeting
Federal Bank of U.S
0.00%-0.25%
16-Mar-2020
26-Jan-2022
European Central Bank
0.00%
10-Mar-2016
03-Feb-2022
Bank of England
0.25%
16-Dec-2021
03-Feb-2022
Bank of Japan
-0.10%
28-Jan-2016
18-Jan-2022
Reserve Bank of Australia
0.10%
03-Nov-2020
01-Feb-2022
S.Africa Reserve Bank
3.50%
23-Jul-2020
27-Jan-2022
Reserve Bank of India
4.00%
22-May-2020
12-Jan-2022
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
R3
1.1418
1.3719
115.05
15.77
R2
1.1393
1.3691
114.80
15.66
R1
1.1352
1.3644
114.47
15.48
PP
1.1327
1.3616
114.22
15.37
S1
1.1286
1.3569
113.89
15.16
S2
1.1261
1.3541
113.64
15.04
S3
1.1220
1.3494
113.31
14.86
Weekly Market Update by Reshma Rajwani Peerun on Radio One
Speak to our team
  • Allan Juste
    Head - Forex And Derivatives
    +230 5251 4855
  • Reshma Peerun Rajwani
    Head – Treasury Sales
    +230 403 5500
  • Karishma Sewock Nobutsing
    Senior Dealer - Treasury Sales
    (+230) 5943 9837
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.