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Treasury

Daily Market Patrol

Market Patrol 8th July 2022

“Losers average losers.

Paul Tudor Jones
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 Aussie dollar remained supported at $ 0.6830 on hopes of improvement in the US-China trade relation
Fundamental News

EUR/USD
The Single currency tumbled to 20 year low at $1.0150 as investors are worried over escalating recession fear as the eurozone is likely to continue facing a shortage of energy and delay in policy tightening measures by the ECB  may result in an untamed inflation rate which could weigh further on the pair.

 

GBP/USD
The Cable advanced towards $1.2010 as UK prime minister Boris Johnson resigned  from his post and an increase in risk appetite together with BoE's Pill and Mann support for a faster rate hike boosted the pound.

 

USD/JPY
The Japanese yen gained to 135.70 as safe-haven following news that former Prime Minister Abe was shot in the chest as market awaits key US data later during the day.

 

AUD/USD
The Aussie dollar remained supported at $0.6830 on hopes of improvement in the US-China trade relation as Beijing teases $220 billion fresh stimulus.

 

USD/CAD
The Loonie trimmed some of its losses to 1.3000 on expectations of Bank of Canada to raise its overnight rate by 75 basis point next week  ahead of unemployment rate during the day.

 

USD/ZAR
South Africa's rand  strengthened to 16.73 as reports stated the strikes by workers at state utility Eskom might soon be resolved ahead of key US data.

 

USD/MUR
The dollar-rupee rallied  to 46.30 on a stronger dollar (Selling).

Fundamental & Technical Data
Economic Indicators-Local Time

15:55 - EUR - ECB's President Lagarde speech 

16.30 - USD - Nonfarm Payrolls(Jun)/ Unemployment rate

16:30 - CAD - Unemployment rate

19:00 - USD - Fed's Williams speech 

 

 

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
Markey update on Biz Week by Christie Ng
Speak to our team
  • Allan Juste
    Head - Forex And Derivatives
    +230 5251 4855
  • Reshma Peerun Rajwani
    Head – Treasury Sales
    +230 403 5500
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.