Market Patrol 28th April 2023

" knowing is not enough; we must apply. Willing is not enough; we must do."

Johann Wolfgang Von Goethe

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 Japanese Yen tumbled on Bank of Japan Ultra-dovish policy.

Fundamental News

EUR/USD
The Single currency dropped to $1.1010 on Thursday as weaker-than-expected U.S economic growth in the first quarter is viewed as not likely to deter the Federal Reserve from raising interest rates next week.

GBP/USD
The Cable remained anchored at $1.2473 despite hawkish U.S. rates expectation.

USD/JPY
The Yen crumbled to 135.34 against the greenback after the Bank of Japan (BOJ) announced a continuation of ultra-loose Monetary policy to achieve 2% inflation target.

AUD/USD
The Australian Dollar inched up to $0.6613 after a more-than-expected Australia Producer Price Index (PPI) data of 5.2% was released this morning.

USD/CAD

The Loonie timidly progressed to 1.3607 against the dollar ahead of Canada's Gross Domestic Product (GBP) data due later today.

USD/ZAR
The rand ticked down to 18.31 against the greenback on a closed South African market.

USD/MUR
The USD/MUR climbed to 45.40 (selling) this morning.

Fundamental & Technical Data

Economic Indicators-Local Time

11.55 - EUR - German Unemployment Change

12.00- EUR- German GDP

16.00- EUR- German CPI

16.30- USD- Core PCE Price Index

16.30- CAD- GDP

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

1.1135

1.2584

135.34

18.60

1.1099

1.2543

134.77

18.52

1.1064

1.2520

134.38

18.45

1.1028

1.2479

133.81

18.25

1.0993

1.2456

133.42

17.85

1.0957

1.2415

132.85

17.75

1.0922

1.2392

132.46

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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Allan Juste

Head - Forex And Derivatives

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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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