Market Patrol 3rd April 2023

"Success is never final, failure is never fatal. It's courage that counts."

John Wooden

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

USD/MUR under pressure after surprising BOM's intervention on last Friday

Fundamental News

EUR/USD
The Single currency plummeted to $1.0790 as the German Unemployment Rate and Retail Sales figures missed expectations last Friday.

GBP/USD
The Cable slid to $1.2280 on the resurgence of a stronger dollar as the Federal Reserve maintained a hawkish stance on Friday despite a slight drop in core U.S. PCE inflation figure.

USD/JPY
The Japanese Yen crumbled against the greenback, undermined by weaker-than-expected Tankan Large Manufacturing figures.

AUD/USD
The Aussie was on the backfoot at $0.6660 amid a cautious move from market participants before tomorrow's Reserve Bank of Australia's interest rate decision.

USD/CAD
The Loonie firmed at 1.3525 against the greenback amid a 6% increase in oil prices following OPEC's surprise cut on Sunday.

USD/ZAR
The South African Rand declined to 17.90 against the U.S. dollar as South African shares dipped following last week's interest rate hike.

USD/MUR
The dollar-rupee slumped to 45.95 (Selling) after the Bank of Mauritius intervened on Friday to sell a total amount of USD 10 million on the domestic foreign exchange market.

Fundamental & Technical Data

Economic Indicators-Local Time

12:30 GBP S&P Global Manufacturing PMI

17:30 CAD S&P Global Manufacturing PMI

17:45 USD S&P Global Manufacturing PMI

18:00 USD ISM Manufacturing Employment Index

18:30 CAD Bank of Canada Business Outlook survey

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

1.0989

1.2492

134.40

20.82

1.0958

1.2458

133.99

19.24

1.0900

1.2394

133.40

18.75

1.0869

1.2360

132.99

17.04

1.0811

1.2296

132.40

16.55

1.0780

1.2262

131.99

16.06

1.0722

1.2198

131.40

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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Head – Treasury Sales

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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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