Market Patrol 27th April 2023

" Our greatest weakness lies in giving up. The most Certain way to succeed is always to try just one more time"

Thomas A. Edison

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 Dollar weakened on concerns over banking contagion risks in the U.S.

Fundamental News

EUR/USD
The Single currency drifted higher to $1.1053 in contrast to Europe's resilient economy compared to banking contagion risks, the debt ceiling standoff, and a potential recession, in the United States.

GBP/USD
The Pound spiked to $1.2487 following a higher-than-expected reading of 0.4% of U.K. Labour Productivity data displayed yesterday.

USD/JPY
The Yen traded sideways to 133.73 against the greenback, given that focus is now squarely on Tokyo inflation data and the Bank of Japan meeting on Friday.

AUD/USD
The Australian Dollar hopped to $0.6611 despite Chinese Industrial profits shrinking much more than expected in the first three months of the year.

USD/CAD

The Loonie jumped to 1.3622 against the dollar after positive Canada Manufacturing sales were released.

USD/ZAR
The South African Rand is on the back foot at 18.30 against the USD though the South African Reserve Bank is likely to continue its interest rate hiking cycle.

USD/MUR
The USD/MUR fell by 10 cents to 45.35 (selling) this morning on broad U.S. dollar weakness.

Fundamental & Technical Data

Economic Indicators-Local Time

16.30 - USD - GDP (QoQ) (Q1)

16.30- USD- Initial Jobless Claims

18.00- USD- Pending Home Sales

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

1.1228

1.2633

135.01

18.60

1.1162

1.2574

134.49

18.52

1.1100

1.2521

134.07

18.45

1.1034

1.2462

133.55

18.25

1.0972

1.2409

133.13

17.85

1.0906

1.2350

132.61

17.75

1.0844

1.2297

132.19

17.69

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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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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