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Daily Market Patrol

Market Patrol 7th February 2023

"Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking."

Steve Jobs
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 Australian Dollar timidly recovered following Reserve Bank of Australia's interest rate hike.
Fundamental News

EURUSD

The Single currency slid to $1.0735 on negative Eurozone's retail sales data published yesterday, while market participants await Federal Reserves' Chair Jerome Powell speech. 

GBPUSD

The Pound Sterling dropped to $1.2045 despite Bank of England's monetary policy member Catherine Mann stated that more hikes are necessary to tackle inflation. 

USDJPY

The Japanese Yen lost further ground at 132.25 against the greenback as attitude towards risk improved following US president's Joe Biden reassurance that the balloon crisis does not weaken US-China relations. 

AUDUSD

The Australian Dollar recovered slightly to trade at $0.6935 following the much anticipated Reserve Bank of Australia's 25 basis points interest rate increase. 

USDCAD

The Loonie extended losses at 1.3420 against the greenback as a 0.4% uptick in oil prices failed to overcome the current dollar strength. 

USDZAR

The South African Rand fell deeper against the US dollar at 17.60 as the effects of heightened possibility for a hawkish Federal Reserve maintained greenback's dominance over emerging currencies. 

USDMUR

The U.S. dollar climbed to 45.70(selling) against the greenback. 

Fundamental & Technical Data
Economic Indicators-Local Time

13:00 GBP BoE's Ramsden speech

17:30 USD Goods and Services Trade Balance

17:30 CAD International Merchandise

21:00 EUR ECB's Schnabel speech

21:30 CAD BoC's Governor Macklem speech

21:40 Fed's Chair Powell 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
R3
1.0870
1.2135
134.57
18.76
R2
1.0834
1.2106
133.74
18.26
R1
1.0781
1.2064
133.18
17.66
PP
1.0745
1.2035
132.35
16.68
S1
1.0692
1.1993
131.79
16.50
S2
1.0656
1.1964
130.96
16.00
S3
1.0603
1.1922
130.40
15.32
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.