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Daily Market Patrol

Market Patrol 6th July 2022

 “Traders need a daily routine that they love. If you don't love it, you're not gonna do it.”

Scott Redler
Indicative Selling Rates
against MUR
USD
05 Aug 2022
  • AUD
  • 31.77
  • 0.7028
  • BWP
  • 3.66
  • 0.0809
  • CAD
  • 35.41
  • 1.2766
  • CNY
  • 6.79
  • 6.6567
  • DKK
  • 6.32
  • 7.1550
  • EUR
  • 46.47
  • 1.0280
  • HKD
  • 5.85
  • 7.7289
  • INR
  • 0.58
  • 77.9316
  • JPY
  • 34.28
  • 131.8696
  • KES
  • 38.47
  • 117.5026
  • NZD
  • 28.70
  • 0.6350
  • NOK
  • 4.73
  • 9.5542
  • SGD
  • 33.21
  • 1.3609
  • ZAR
  • 2.79
  • 16.1893
  • SEK
  • 4.53
  • 9.9836
  • CHF
  • 47.58
  • 1.0527
  • GBP
  • 55.13
  • 1.2196
  • USD
  • 45.20
  • 1.0000
  • AED
  • 12.44
  • 3.6343
The Single currency nosedived to $1.0246 as surging European gas prices worsened economic growth fears
Fundamental News

EUR/USD
The Single currency nosedived to $1.0246 as surging European gas prices worsened economic growth fears and  sizeable European Central Bank rate hikes could reignite another euro zone debt crisis.

 

GBP/USD
The Cable tumbled to $1.1927 as political crisis heaped pressure after the resignation of two senior UK cabinet while the Bank of England (BOE) also released a report conveying the grim economic outlook.

 

USD/JPY
The Japanese yen gained to 135.35 despite a strong dollar as Risk-off impulse increased appetite for safe-haven assets and on rising expectations for higher price pressures which will keep inflation well above 2% target level this year.

 

AUD/USD
The Aussie dollar dropped to $0.6786 after fears of global recession slugged commodity prices and China's another round of lockdowns weighed on the pair.

 

 

USD/CAD
The Loonie plunged to 1.3052 as Crude oil prices fell more than 6% amid the worsening demand outlook ahead of Canada's employment report  due on Friday.

 

USD/ZAR
South Africa's rand lost ground to 16.57 as elevated energy and food prices are triggering demand destruction which is now starting to weigh down more on the pair ahead of FOMC minutes later during the day.

 

USD/MUR
The dollar-rupee rallied to 45.95 (Selling) on central bank intervention.

Fundamental & Technical Data
Economic Indicators-Local Time

12:00 - EUR - Non-Monetary Policy ECB Meeting 

12:10 - GBP - BoE's Pill speech 

13:00 - EUR - Retail Sales

16:30 - GBP - BOE's Cunliffe speech

18:00- USD - ISM services PMI

22:00 - USD - FOMC minutes

Central Bank Interest Rates
Last Change
New Meeting
Federal Bank of U.S
1.75%
04-May-2022
-
European Central Bank
0.00%
10-Mar-2016
-
Bank of England
1.00%
05-May-2022
16-Jun-2022
Bank of Japan
-0.10%
28-Jan-2016
-
Reserve Bank of Australia
1.35%
01-Jan-0001
-
S.Africa Reserve Bank
4.75%
20-May-2022
21-Jul-2022
Reserve Bank of India
4.00%
22-May-2020
-
Bank of Mauritius
2.25%
03-Jun-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
R3
1.0615
1.2307
137.74
17.13
R2
1.0532
1.2216
137.28
16.74
R1
1.0402
1.2080
136.49
16.47
PP
1.0318
1.1989
136.03
15.54
S1
1.0188
1.1853
135.24
15.33
S2
1.0105
1.1763
134.78
14.42
S3
0.9974
1.1627
133.99
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
Weekly Market Update by Reshma Rajwani Peerun on Radio One
Speak to our team
  • Allan Juste
    Head - Forex And Derivatives
    +230 5251 4855
  • Reshma Peerun Rajwani
    Head – Treasury Sales
    +230 403 5500
  • Karishma Sewock Nobutsing
    Senior Dealer - Treasury Sales
    (+230) 5943 9837
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.