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Treasury

Daily Market Patrol

Market Patrol 3rd May 2023

“The path to success is to take massive, determined action.”

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 greenback in defensive mode ahead of FOMC meeting tonight.
Fundamental News

EUR/USD
The Single currency recovered to $1.1018, though investors expect a hike in U.S. interest rates tonight but are unsure how long the Federal Reserve will keep policy tight considering the latest gloomy jobs data.

GBP/USD
The Cable ticked down $1.2488, unimpressed by better than estimated U.K. Manufacturing PMI.

USD/JPY
The Japanese yen reversed some losses to 135.97 against the greenback on fresh fears surrounding the U.S. debt ceiling and a cautious mood ahead of a pool of U.S. economic events today.

AUD/USD
The Aussie dollar held on gains at $0.6668 after slightly stronger-than-expected retail sales data showed some resilience in the Australian economy, giving the Reserve Bank of Australia more headroom to hike rates.

USD/CAD
The Loonie displayed a perpendicular drop to 1.3615 against the greenback as oil prices nosedived amid deepening fears of a recession in the United States.

USD/ZAR
South Africa's rand slipped to 18.45 per U.S. dollar, with market attention this week likely to hinge on a local purchasing managers' index survey.

USD/MUR
The dollar-rupee stayed put at 44.95(Selling.

 

Fundamental & Technical Data
Economic Indicators-Local Time

16:45 - USD  - ADP Nonfarm Employment Change

18:00 - USD - ISM Non manufacturing PMI (APr)

22:00 - USD - Fed interest rate decision

22:00 - USD - FOMC Statement

 

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
R3
1.1093
1.2641
139.35
18.60
R2
1.1064
1.2606
138.44
18.52
R1
1.1021
1.2551
137.96
18.45
PP
1.0992
1.2516
133.05
18.25
S1
1.0949
1.2461
136.57
17.85
S2
1.0920
1.2426
135.66
17.75
S3
1.0877
1.2371
135.18
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
Markey update on Biz Week by Christie Ng
Speak to our team
  • Allan Juste
    Head - Forex And Derivatives
    +230 5251 4855
  • Reshma Peerun Rajwani
    Head – Treasury Sales
    +230 403 5500
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.