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

25 Apr 2024

AUD
30.77
0.6565

BWP
3.43
0.0733

CAD
34.51
1.3581

CNY
6.56
7.1473

DKK
6.83
6.8649

EUR
50.42
1.0758

HKD
6.08
7.7125

INR
0.57
82.0612

JPY
30.50
153.6760

KES
35.48
132.1115

NZD
28.10
0.5994

NOK
4.36
10.7536

SGD
34.80
1.3468

ZAR
2.52
18.6007

SEK
4.37
10.7251

CHF
51.57
1.1003

GBP
58.71
1.2526

USD
46.87
1.0000

AED
12.96
3.6157

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

Email
Reshma Peerun Rajwani

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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