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

23 Apr 2024

AUD
30.68
0.6522

BWP
3.45
0.0733

CAD
34.62
1.3589

CNY
6.58
7.1457

DKK
6.82
6.8986

EUR
50.38
1.0709

HKD
6.09
7.7204

INR
0.57
82.0223

JPY
30.75
152.9787

KES
35.74
131.6321

NZD
28.10
0.5974

NOK
4.37
10.7565

SGD
34.91
1.3474

ZAR
2.53
18.5665

SEK
4.39
10.7267

CHF
51.90
1.1034

GBP
58.40
1.2415

USD
47.04
1.0000

AED
13.01
3.6157

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

1.1418

1.3719

115.05

15.77

1.1393

1.3691

114.80

15.66

1.1352

1.3644

114.47

15.48

1.1327

1.3616

114.22

15.37

1.1286

1.3569

113.89

15.16

1.1261

1.3541

113.64

15.04

1.1220

1.3494

113.31

14.86

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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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