Market Patrol 11th April 2023

"Perseverance is not a long race; it is many short races one after the other."

Walter Elliot

Indicative Selling Rates
against MUR
USD

09 May 2024

AUD
31.05
0.6647

BWP
3.47
0.0744

CAD
34.33
1.3609

CNY
6.56
7.1247

DKK
6.83
6.8365

EUR
50.47
1.0803

HKD
6.07
7.6997

INR
0.57
82.1296

JPY
30.38
153.7973

KES
36.16
129.1888

NZD
28.32
0.6062

NOK
4.38
10.6720

SGD
34.84
1.3410

ZAR
2.60
17.9932

SEK
4.34
10.7544

CHF
51.77
1.1080

GBP
58.68
1.2560

USD
46.72
1.0000

AED
12.92
3.6159

The Euro subdued ahead of Retail Sales figures.

Fundamental News

EUR/USD
The Single currency is mostly unchanged at $1.0895 ahead of the much-awaited Retail Sales figures for the Euro Zone later today.

GBP/USD
The Cable attempted a recovery at $1.2415 but traded within the familiar territory as the U.K. Retail Sales figure came out as expected this morning.

USD/JPY
The Japanese Yen extended losses to 133.35 against the greenback partly due to the new Bank of Japan Governor's speech on sticking to their ultra-easy stimulus settings.

AUD/USD
The Aussie hopped to $0.6670 as domestic Consumer Confidence data published today exceeded expectations.

USD/CAD
The Loonie timidly progressed to 1.3488 against the U.S. dollar, tracking the recent recovery in WTI crude oil prices.

USD/ZAR
The South African Rand nosedived to 18.44 against the U.S Dollar on low liquidity yesterday as major markets were closed for Easter.

USD/MUR
The dollar-rupee stabilized at 45.70(selling).

Fundamental & Technical Data

Economic Indicators-Local Time

13:00 EUR Retail Sales

21:30 USD Fed's Goolsbee Speech

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

01-Jan-0001

European Central Bank

2.50%

02-Feb-2023

16-Mar-2023

Bank of England

4.0%

02-Feb-2023

23-Mar-2023

Bank of Japan

-0.10%

01-Jan-0001

18-Jan-2023

Reserve Bank of Australia

3.10%

01-Jan-0001

07-Feb-2023

S.Africa Reserve Bank

01-Jan-0001

Reserve Bank of India

6.25%

01-Jan-0001

08-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

1.0993

1.2534

136.41

20.82

1.0955

1.2488

135.14

19.24

1.0908

1.2436

134.37

18.75

1.0870

1.2390

133.10

17.04

1.0823

1.2338

132.33

16.55

1.0785

1.2292

131.03

16.06

1.0738

1.2240

130.29

15.36

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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Allan Juste

Head - Forex And Derivatives

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Head – Treasury Sales

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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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