Market Patrol 25th April 2023

" I'm only rich because I know when I'm wrong

George Soros

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 Pound and the Euro rallied on higher interest rates expectations.

Fundamental News

EUR/USD
The Single currency spiked to $1.1050, bolstered by solidifying expectations of further ECB rate hikes of almost a full percentage point before year-end.

GBP/USD
The Pound trickled higher to $1.2478 on the expectation that the Bank of England to keep hiking rates to arrest persistent inflation in the U.K.

USD/JPY
The Yen locked in a topsy-turvy move in the range of 134.10 to 134.60 after new Governor Uade declined to specify how the Bank of Japan might phase out the Yield Curve Control.

AUD/USD
The Australian Dollar continued its slow down to $0.6678 as the market is closed for The Australian and New Zealand Army Corps (ANZAC) Day.

USD/CAD

The Loonie is on the backfoot at 1.3560 against the greenback as investors awaited the release of the minutes from the Bank of Canada's latest meeting this week.

USD/ZAR
The South African Rand slipped to 18.16 on risk aversion as investors braced for a week of high-profile quarterly earnings and closely watched economic data.

USD/MUR
The USD/MUR drifted lower to 45.35 (selling) this morning.

Fundamental & Technical Data

Economic Indicators-Local Time

17.30 - USD - Building Permits.

18.00- USD- CB consumer Confidence (April)

18.00- USD- New Home Sales ( March)

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

01-Jan-0001

European Central Bank

2.50%

02-Feb-2023

Bank of England

4.0%

02-Feb-2023

Bank of Japan

-0.10%

01-Jan-0001

Reserve Bank of Australia

3.10%

01-Jan-0001

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

1.1160

1.2586

135.54

20.82

1.1105

1.2536

135.13

19.24

1.1076

1.2511

134.70

18.75

1.1021

1.2461

134.29

17.04

1.0992

1.2436

133.86

16.55

1.0937

1.2386

133.45

16.06

1.0908

1.2361

133.02

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

Previous View Market Patrol Archives Next

Markey update on Biz Week by Christie Ng

Listen

Speak to our team

Allan Juste

Head - Forex And Derivatives

+230 5251 4855

Email
Reshma Peerun Rajwani

Head – Treasury Sales

+230 403 5500

Email

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.

Treasury

Daily Market Patrol