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Daily Market Patrol

Market Patrol 17th April 2023

"The only way to do great work is to love what  you do ."

Steve Jobs
Indicative Selling Rates
against MUR
USD
08 May 2024
  • AUD
  • 31.02
  • 0.6636
  • BWP
  • 3.49
  • 0.0746
  • CAD
  • 34.27
  • 1.3641
  • CNY
  • 6.56
  • 7.1254
  • DKK
  • 6.83
  • 6.8424
  • EUR
  • 50.45
  • 1.0793
  • HKD
  • 6.07
  • 7.7014
  • INR
  • 0.57
  • 82.1748
  • JPY
  • 30.48
  • 153.3486
  • KES
  • 35.64
  • 131.1343
  • NZD
  • 28.26
  • 0.6046
  • NOK
  • 4.36
  • 10.7175
  • SGD
  • 34.83
  • 1.3420
  • ZAR
  • 2.60
  • 17.9610
  • SEK
  • 4.35
  • 10.7417
  • CHF
  • 51.75
  • 1.1072
  • GBP
  • 58.63
  • 1.2545
  • USD
  • 46.74
  • 1.0000
  • AED
  • 12.93
  • 3.6160
The U.S dollar rebounded strongly on hawkish comments from Federal Reserve official and Wall Street bank earnings..
Fundamental News

EUR/USD

The Single currency slipped to $1.0992 as resilience in core U.S. Retail sales and impressive Wall Street bank earnings raised market expectations for an interest rate hike in the United States in May.

GBP/USD

The Cable tumbled to 1.2420 on talks that the Bank of England is considering a significant overhaul of its deposit guarantee scheme, refreshing banking fears surrounding the U.K.

USDJPY

The Japanese Yen retraced to 133.94 after Fed Governor Christopher Waller added weight to the prospect of another rate hike, saying the central bank's lack of progress on slowing inflation meant rates needed to move higher.

AUD/USD

The Aussie collapsed to $0.6710, undermined by a shift in market expectations for higher interest rates in the United States compared to Australia. The market implied an around 80% chance the Reserve Bank of Australia would hold its rates at 3.6% in May.

USD/CAD

The Loonie lost ground towards 1.3350 against the greenback on the back of a decline in the prices of WTI crude oil.

USD/ZAR

The South African Rand faltered to 18.055 versus the U.S. dollar despite the S.A. Core Retail Sales reading being lower than expected.  

USD/MUR
The dollar-rupee clawed back to 45.55 (selling).

Fundamental & Technical Data
Economic Indicators-Local Time

19:00- ECB President Lagarde 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
R3
1.1158
1.2655
136.02
20.82
R2
1.1117
1.2601
134.93
19.24
R1
1.1055
1.2508
134.35
18.75
PP
1.1014
1.2454
133.26
17.04
S1
1.0952
1.2361
132.68
16.55
S2
1.0911
1.2307
131.59
16.06
S3
1.0849
1.2214
131.01
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
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.