Market Patrol 12th April 2023

"It always seems impossible until it’s done."

Nelson Mandela.

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 US dollar pause for breath ahead of key U.S. inflation data.

Fundamental News

EUR/USD

The Single currency timidly progressed to $1.0926 despite a slight drop in Eurozone's Retail sales Figures yesterday.

GBP/USD

The Cable edged higher to $1.2435 ahead of the much-awaited U.S Core Consumer Price Index (CPI), and Bank of England Governor Bailey speaks due later today.

USD/JPY

The Japanese Yen retraced to 133.75 against the greenback on the back of Japanese firms failing to hike the prices of offerings amid weaker retail demand.

AUD/USD

The Aussie ticked lower to $0.6650 after the speech of Reserve Bank of Australia (RBA) Deputy Governor Michele Bullock, who said the recent bout of stress in the global banking system did not play a part in the RBA's decision to pause its hikes in April.

USD/CAD

The Loonie clawed back some of its losses at 1.3450 against the U.S. dollar amid the Bank of Canada's Monetary Policy Report this afternoon.

USD/ZAR

The South African Rand uptick to 18.35 against the greenback ahead of major US economic news expected today.

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

Fundamental & Technical Data

Economic Indicators-Local Time

16.30 USD Core CPI (MOM)

17.00 GBP BOE Gov Bailey speaks

18.00 CAD BOC Monetary Policy Report

18.30 USD Crude Oil Inventories

19.00 CAD BOC Press Conference

22.00 USD FOMC Meeting Minutes

23.15 GBP BOE Gov Bailey Speaks

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

1.1018

1.2537

136.41

20.82

1.0973

1.2496

135.14

19.24

1.0943

1.2461

134.37

18.75

1.0898

1.2420

133.10

17.04

1.0868

1.2385

132.33

16.55

1.0823

1.2344

131.03

16.06

1.0793

1.2309

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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