Market Patrol 2nd June 2022

"Invest in yourself as much as you can; you are your own biggest asset by far."

Warren Buffet

Indicative Selling Rates
against MUR
USD

17 Sep 2024

AUD
31.68
0.6843

BWP
3.55
0.0767

CAD
34.34
1.3483

CNY
6.73
6.8821

DKK
7.00
6.6124

EUR
51.76
1.1178

HKD
6.03
7.6747

INR
0.56
82.4835

JPY
33.53
138.0841

KES
36.53
126.7412

NZD
28.91
0.6245

NOK
4.46
10.3728

SGD
36.31
1.2750

ZAR
2.72
17.0251

SEK
4.61
10.0469

CHF
55.17
1.1916

GBP
61.44
1.3270

USD
46.30
1.0000

AED
12.91
3.5873

The Shared currency dropped sharply to $1.0650 amid a stronger dollar.

Fundamental News

EUR/USD
The Shared currency dropped sharply to $1.0650 despite steady unemployment rate of 6.8% in the euro area amid a stronger dollar.

GBP/USD
The Cable nosedived to $1.2474 as Bank of England Deputy Governor Jon Cunliffe stated that central bank was seeing evidence of a slowdown in the housing market and fears of a trade war with regards to the British government legislations with regards to Brexit.

USD/JPY
The Japanese yen fell to 130.00 as US yields spiked on raising bets on the path for US rate hikes.

AUD/USD
The Aussie dollar lost ground to $0.7142 on risk off mood despite positive Aussie/Chinese data.

USD/CAD
The Canadian dollar gained to 1.2640 as Bank of Canada raised rates by 50 basis points and is prepared for more aggressive rate lifts if needed to achieve 2% inflation target.

USD/ZAR
The South African rand slipped to 15.59 on more hawkish comments from the FED in addition to better than expected US ISM Manufacturing PMI data.

USD/MUR
The dollar-rupee rallied to 43.90 (Selling) as USD soared.

Fundamental & Technical Data

Economic Indicators-Local Time

13:00 - EUR - PPI

16:15 - USD - ADP Employment Change(May)

16:30 - USD - Initial Jobless Claims(May 27)

18:45 - CAD - BoC's Beaudry speech

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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Allan Juste

Head - Forex And Derivatives

+230 5251 4855

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Head – Treasury Sales

+230 403 5500

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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.

Treasury

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