Market Patrol 8th December 2022

"Say something positive, and you’ll see something positive.”

Jim Thompson

Indicative Selling Rates
against MUR
USD

26 Apr 2024

AUD
30.81
0.6583

BWP
3.44
0.0736

CAD
34.56
1.3545

CNY
6.55
7.1468

DKK
6.83
6.8533

EUR
50.43
1.0774

HKD
6.07
7.7145

INR
0.57
82.0087

JPY
30.36
154.1916

KES
35.30
132.5951

NZD
28.14
0.6011

NOK
4.36
10.7396

SGD
34.76
1.3465

ZAR
2.54
18.4356

SEK
4.36
10.7346

CHF
51.60
1.1024

GBP
58.79
1.2560

USD
46.81
1.0000

AED
12.95
3.6161

The Single currency rose to $1.0500 on better than expected Eurozone GDP data

Fundamental News

EUR/USD
The Single currency rose slightly to $1.0500 against the greenback as GDP data for the Euro Zone came out better than expected yesterday.

GBP/USD
The Cable turned positive towards $1.2189 despite overall risk aversion triggered by China’s exports weakening.

USD/JPY
The Japanese yen remained on positive track at 136.90 helped by firmer Japan GDP data, downbeat US Treasury yields and softer US data.

AUD/USD
The Aussie dollar remained pressured around $ 0.6715 among geopolitical tensions despite trade balance surplus reported for October.

USD/CAD
The Canadian dollar dropped to 1.3680 against the greenback despite Bank of Canada raised interest rates, and an uptick in oil prices.

USD/ZAR
South African rand rose to 17.15 despite news of an escalation in power cut which would mean at least six hours a day without power for most South Africans. Market awaits third-quarter current account data and October manufacturing numbers.

USD/MUR
The dollar-rupee stayed put at 44.10 (Selling).

Fundamental & Technical Data

Economic Indicators-Local Time

16:00 - EUR - ECB's President Lagarde speech

17:30 - USD - Initial Jobless Claims

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

4.00%

01-Nov-2022

13-Dec-2022

European Central Bank

2.00%

01-Jan-0001

15-Dec-2022

Bank of England

3.00%

01-Jan-0001

15-Dec-2022

Bank of Japan

-0.10%

28-Jan-2016

20-Dec-2022

Reserve Bank of Australia

2.85%

01-Jan-0001

06-Dec-2022

S.Africa Reserve Bank

01-Jan-0001

Reserve Bank of India

5.90%

01-Jan-0001

07-Dec-2022

Bank of Mauritius

4.00%

04-Nov-2022

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

1.0715

1.2634

140.14

18.60

1.0624

1.2472

139.12

17.95

1.0575

1.2364

137.24

17.64

1.0484

1.2202

136.22

17.19

1.0435

1.2094

134.34

17.09

1.0344

1.1932

133.32

16.10

1.0295

1.1824

131.44

15.12

Technical Analysis - Forex Charts

EUR/USD Outlook- looking bleak throughout Q3-Q4 2022

Chart updated on 05.07.2022

USD/MUR Outlook One more leg higher before paring some of its gains in Q3-Q4 2022

Chart posted on 05.07.2022

EUR/MUR- Bears in control in Q3-Q4 2022

Chart posted on 05.07.2022

The Canadian dollar swirled in a roller coaster move, falling to 1.3600 against the U.S. dollar as the Bank of Canada delivered a lower-than-projected rate hike of 50 basis points but later gained to 1.3530 on broad dollar weakness.

Chart posted on 27.10.2022

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Head - Forex And Derivatives

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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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