Market Patrol 4th April 2023

"A creative man is motivated by the desire to achieve, not by the desire to beat others."

Ayn Rand

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 Aussie climbed, withstanding Reserve Bank of Australia's status-quo on rates.

Fundamental News

EUR/USD
The Single currency spiked to $1.0890, sponsored by weaker-than-expected U.S. ISM Manufacturing PMI and Manufacturing Prices Paid figures.

GBP/USD
The Cable hoisted to $1.2400 despite a negative reading from the S&P CIPS Manufacturing data for the U.K. yesterday. Market participants shall look for further clues from today's Bank of England member Pill's speech.

USD/JPY
The Japanese Yen slid to 132.70 against the greenback, partly due to an increase in the scale of foreign bond buying in Japan.

AUD/USD
The Aussie climbed to $0.6765 as the Reserve Bank of Australia chose to keep interest rates unchanged but warned future rate hikes are still on the table.

USD/CAD
The Loonie hopped to 1.3434 against the U.S. Dollar ahead of Unemployment figures due this Thursday.

USD/ZAR
The South African Rand traded sideways at 17.84 as jitters around OPEC's supply cut affecting emerging economies settled.

USD/MUR
The dollar-rupee is unchanged at 45.95(selling).

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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Allan Juste

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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