Market Patrol 27th May 2022

Derivatives are financial weapons of mass destruction

Warren Buffet

Indicative Selling Rates
against MUR
USD

19 Sep 2024

AUD
31.94
0.6890

BWP
3.57
0.0770

CAD
34.35
1.3492

CNY
6.75
6.8687

DKK
7.01
6.6138

EUR
51.78
1.1172

HKD
6.04
7.6771

INR
0.56
82.3363

JPY
32.96
140.6323

KES
36.57
126.7431

NZD
29.05
0.6267

NOK
4.47
10.3645

SGD
36.34
1.2754

ZAR
2.74
16.9379

SEK
4.61
10.0637

CHF
54.94
1.1853

GBP
61.50
1.3269

USD
46.35
1.0000

AED
12.92
3.5874

The U.S dollar faded across the board as Fed rate hike bets ease

Fundamental News

EUR/USD
The Shared currency pierced to $1.0747 as traders lowered Federal Reserve rate hike expectations amid signs the central bank might slow or even pause its tightening cycle in the second half of the year.

GBP/USD
The Cable popped to $1.2635 after UK’s Chancellor Rishi Sunak announced multiple measures to tame the cost of living on Thursday.

USD/JPY
The Japanese yen grinded higher to 126.81 against the U.S dollar after Bank of Japan Governor Haruhiko Kuroda has commented that price rise should be accompanied by wage hikes in order to sustain inflation at desired levels.

AUD/USD
The Aussie dollar shot up to $0.7137 after Australian Retail Sales match forecasts in the Asian session.

USD/CAD
The Loonie sailed higher to 1.2753 per U.S dollar as investors ignored the slippage in the Canadian Retail Sales.

USD/ZAR
The South African rand strengthened to 15.68 against the greenback following a better than estimated producer price index rose, statistics agency data showed on Thursday.

USD/MUR
The dollar-rupee rose by 10 cents to 43.80(Selling).

Fundamental & Technical Data

Economic Indicators-Local Time

15:35 - EUR - ECB's Lane Speaks

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

1.0%

04-May-2022

European Central Bank

0.00%

10-Mar-2016

Bank of England

1.00%

05-May-2022

Bank of Japan

-0.10%

28-Jan-2016

Reserve Bank of Australia

0.10%

03-Nov-2020

S.Africa Reserve Bank

4.75%

20-May-2022

21-Jul-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

1.0825

1.2705

128.62

16.38

1.0779

1.2663

128.10

16.29

1.0755

1.2336

127.59

16.21

1.0709

1.2594

127.07

15.54

1.0685

1.2567

126.56

15.33

1.0639

1.2525

126.04

14.42

1.0615

1.2498

125.53

14.35

Technical Analysis - Forex Charts

Technical Outlook of the week - NZDCHF Scenario 1:

Chart updated on 04.03.2022

Technical Outlook of the week - NZDCHF Scenario 2:

Chart posted on 04.03.2022

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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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