Market Patrol 31st May 2022

Confidence is not “I will profit on this trade.” Confidence is “I will be fine if I don’t profit from this trade.

Yvan Byeajee

Indicative Selling Rates
against MUR
USD

18 Sep 2024

AUD
31.77
0.6861

BWP
3.56
0.0769

CAD
34.36
1.3475

CNY
6.72
6.8848

DKK
7.00
6.6105

EUR
51.77
1.1181

HKD
6.03
7.6774

INR
0.56
82.4258

JPY
33.34
138.8749

KES
36.53
126.7412

NZD
28.97
0.6257

NOK
4.46
10.3825

SGD
36.33
1.2745

ZAR
2.73
16.9900

SEK
4.61
10.0425

CHF
55.11
1.1902

GBP
61.24
1.3228

USD
46.30
1.0000

AED
12.91
3.5873

The Loonie pushed higher amid an improvement in market sentiment, higher crude oil prices ahead of Canadian Q1 GDP

Fundamental News

EUR/USD
The Shared currency plunged to $1.0750 on extremely hawkish comments from Fed Waller that they are still considering a 50bp interest rate hike in the US until the Fed find a substantial cut in CPI.

GBP/USD
The Cable dropped to $1.2615 as annual consumer figures has climbed above 9% and market awaiting a confirmation that BOE will consider further hike rate.

USD/JPY
The Japanese yen fell to 128.00 as Industrial Production slumped in April ahead of the key meeting between US President Joe Biden and Fed Chair Jerome Powell.

AUD/USD
The Aussie dollar gained to $0.7194 on positive economic data pointing to steady growth ahead of first quarter gross domestic product due on Wednesday

USD/CAD
The Loonie pushed higher amid an improvement in market sentiment, higher crude oil prices ahead of Canadian Q1 GDP reading later during the day.

USD/ZAR
The South African rand strengthened amid dollar weakness ahead of a number of economic indicators including April credit and money supply data and unemployment numbers for first quarter later during the day.

USD/MUR
The dollar-rupee remained idled at 43.80(Selling).

Fundamental & Technical Data

Economic Indicators-Local Time

11:00 - CHF - GDP (YoY)

12:30 - GBP - Consumer credit

13:00 - EUR - HICP - Consumer price

16:30 - CAD - GDP

18:00 - USD - Consumer confidence

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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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.

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