Market Patrol 31th March 2023

"You are never too old to set another goal or to dream a new dream."

Les Brown

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 Rand went through the roof on hawkish South African Reserve Bank.

Fundamental News

EUR/USD
The Single currency climbed to $1.0905, helped by a combination of encouraging German CPI figures and disappointing U.S. GDP data published yesterday.

GBP/USD
The Cable hopped to $1.2395 ahead of U.K.'s GDP figures expected later today.

USD/JPY
The Japanese Yen pared some of its losses to 132.75 against the greenback, underpinned by positive CPI, Industrial Production, and Retail Trade data released in Japan this morning.

AUD/USD
The Aussie timidly progressed to $0.6710, assisted by an uptick in Chinese NBS Manufacturing PMI.

USD/CAD
The Loonie strengthened to 1.3525 as the easing banking crisis triggered a massive short covering of the currency from the hedge fund community.

USD/ZAR
The South African Rand rocketed to 17.85 following a surprising 50-basis points rate increase by the South African Reserve Bank, setting the rate at 7.75 % to tackle an inflation figure of 7.0% as of February.

USD/MUR
The dollar-rupee slid to 46.35 (Selling)

Fundamental & Technical Data

Economic Indicators-Local Time

10:00 GBP GDP

10:00 EUR Retail Sales

11:55 EUR Unemployment Rate

13:00 EUR Harmonized CPI

16:30 USD Personal Consumption Expenditure

16:30 CAD GDP

17:45 USD Chicago PMI

18:00 USD 5-Year Consumer Inflation Expectation

23:05 USD Fed's Williams speech

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

1.1047

1.2522

133.80

20.82

1.0987

1.2458

133.38

19.24

1.0946

1.2423

133.04

18.75

1.0886

1.2359

132.62

17.04

1.0845

1.2324

132.28

16.55

1.0785

1.2260

131.86

16.06

1.0744

1.2225

131.52

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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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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