Market Patrol 7th April 2023

"You can't cross the sea merely by standing and staring at the water."

Rabindranath Tagore

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 Euro was little changed on Good Friday holiday.

Fundamental News

EUR/USD
The Single currency oscillated to $1.0915 on low liquidity as several markets, including Europe, are closed for Good Friday.

GBP/USD
The Cable crumbled to $1.2450 as Bank of England's policy makers expect inflation in the U.K to drop quickly.

USD/JPY
The Japanese Yen slipped further to 131.70 against the greenback as Bank of Japan, and the Japanese Finance Minister maintained a hawkish bias.

AUD/USD
The Aussie still under pressure at $0.6690 as China's Commerce Ministry urged Australia to treat all firms fairly.

USD/CAD
The Loonie continued it's slow descend to 1.3485 against the U.S. dollar while a poll of economists surveyed by Reuters unveiled that the Bank of Canada will maintain its key interest rate at 4.50%.

USD/ZAR
The South African Rand collapsed to 18.21 against the greenback ahead of Non-Farm Payroll due this afternoon.

USD/MUR
The dollar-rupee plummeted to 45.70(selling) following an intervention from the Bank of Mauritius this Friday.

Fundamental & Technical Data

Economic Indicators-Local Time

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

1.0997

1.2553

133.31

20.82

1.0968

1.2520

132.61

19.24

1.0944

1.2479

132.19

18.75

1.0915

1.2446

131.49

17.04

1.0891

1.2405

131.7

16.55

1.0862

1.2372

130.37

16.06

1.0838

1.2331

129.95

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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