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Treasury

Daily Market Patrol

Market Patrol 5 May 2026

The attitude is very important. Because, your behavior radiates how you feel. 

Lou Ferrigno
Indicative Selling Rates
against MUR
USD
06 May 2026
  • AUD
  • 35.69
  • 0.7518
  • BWP
  • 3.48
  • 0.0733
  • CAD
  • 36.35
  • 1.3061
  • CNY
  • 7.35
  • 6.4564
  • DKK
  • 7.79
  • 6.0973
  • EUR
  • 55.72
  • 1.1736
  • HKD
  • 6.28
  • 7.5606
  • INR
  • 0.52
  • 90.7086
  • JPY
  • 30.44
  • 155.9905
  • KES
  • 37.98
  • 125.0068
  • NZD
  • 29.33
  • 0.6176
  • NOK
  • 5.31
  • 8.9454
  • SGD
  • 38.44
  • 1.2353
  • ZAR
  • 3.03
  • 15.6778
  • SEK
  • 5.34
  • 8.8945
  • CHF
  • 60.90
  • 1.2826
  • GBP
  • 64.52
  • 1.3588
  • USD
  • 47.48
  • 1.0000
  • AED
  • 13.33
  • 3.5617
The Pound Sterling softened pressured by political uncertainty ahead of UK elections and a more cautious tone from the Bank of England.
Fundamental News

EUR/USD

The Euro dipped to $1.1680 amid rising tensions in the Middle East after Iran attacked the United Arab Emirates.

GBP/USD

The Pound Sterling softened to $1.3513, pressured by political uncertainty ahead of UK elections and a more cautious tone from the Bank of England.

USD/JPY

The Japanese Yen fell to 157.30 against the US dollar as rising energy import costs are worsening Japan’s trade balance.

AUD/USD

The Australian Dollar nosedived to $0.7150 despite the RBA raising the Official Cash Rate by 25 bps to 4.35%, as global factors dominated.

USD/CAD

The Canadian dollar traded lower at 1.3628 versus the greenback as expectations for the Bank of Canada remain relatively neutral to mildly dovish, with markets seeing limited urgency for further tightening.

USD/ZAR

The South African rand plunged to 16.8315 a dollar as a stronger US dollar and rising oil prices, driven by escalating tensions between the United States and Iran weighed on global market sentiment.

USD/MUR

The Dollar–Rupee hiked by 20cents to 47.65 (selling) this morning.

Fundamental & Technical Data
Economic Indicators-Local Time

4:30 PM EUR ECB's President Lagarde speech

5:45 PM USD S&P Global Composite PMI (Apr)

6:00 PM USD Fed's Bowman speech

6:00 PM USD ISM Services Employment Index (Apr)

6:00 PM USD ISM Services New Orders Index (Apr)

6:00 PM USD ISM Services PMI (Apr)

6:00 PM USD JOLTS Job Openings (Mar)

6:00 PM USD New Home Sales Change (MoM) (Feb)

7:40 PM EUR ECB's Lane speech

8:30 PM USD Fed's Barr speech

Central Bank Interest Rates
Last Change
New Meeting
Federal Bank of U.S
4.0%
28-Oct-2025
09-Dec-2025
European Central Bank
2.00%
24-Jun-2025
18-Dec-2025
Bank of England
4.00%
07-Aug-2025
18-Dec-2025
Bank of Japan
0.5%
30-Jul-2025
19-Dec-2025
Reserve Bank of Australia
3.6%
20-May-2025
09-Dec-2025
S.Africa Reserve Bank
6.75%
20-Nov-2025
29-Jan-2026
Reserve Bank of India
5.5%
06-Jun-2025
05-Dec-2025
Bank of Mauritius
4.50%
04-Feb-2025
18-Dec-2025
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
1.1800
1.3681
159.36
17.29
R2
1.1775
1.3644
158.33
17.08
R1
1.1732
1.3587
157.79
16.93
PP
1.1707
1.3550
156.76
16.80
S1
1.1664
1.3493
156.22
16.78
S2
1.1639
1.3456
155.19
16.73
S3
1.1596
1.3399
154.65
16.58
Technical Analysis - Forex Charts
EUR/USD Technical Views- Double Zig-Zag (WXY) Structure; Larger-Degree Wave X Still Unfolding
Chart updated on 29.04.2026

Technical News – EUR/USD
Double Zig-Zag (WXY) Structure; Larger-Degree Wave X Still Unfolding

Following a peak at $1.2078 on 26 January 2026, EUR/USD has retraced part of its 2025 gains, falling to $1.1411 before recovering toward the $1.17 area.

From an Elliott Wave perspective, the pair appears to have completed wave W and is currently unfolding a larger-degree wave X within a broader double zig-zag corrective structure (WXY). While elements of wave X's internal structure appear relatively mature, the overall corrective phase is still in progress.

The recent recovery toward $1.17 is therefore interpreted as part of this ongoing wave X, rather than the start of a new impulsive sequence. As such, once wave X completes, the pair is expected to transition into wave Y, resuming the broader corrective decline.

In this context, a move lower is anticipated over the coming months. In the near term, an initial downside target is seen at $1.1100, which marks a key support zone defined by the Fibonacci retracement (0.382) and the previous fourth wave of a lesser degree. Further downside extension remains possible as wave Y develops.

On the upside, a sustained break above the $1.20–$1.2078 area would invalidate the current WXY corrective scenario.

USD/MUR Outlook Bearish turn ahead !
Chart posted on 08.05.2023
EUR/MUR- A continuation of the uptrend!
Chart posted on 08.05.2023
The Pound is expected to experience a short-term rally before trending lower in wave C of a Zig-Zag corrective pattern
Chart posted on 12.08.2024
The Rand, an emerging market’s hero.
Chart posted on 24.09.2024
Yen bull, taking a breather before resuming its rally! 137.00
Chart posted on 12.08.2024
USDCAD - Medium term view
Chart posted on 27.08.2024
USD/JPY – Taking a step back to take two steps forward
Chart posted on 26.09.2024
The Aussie dollar- Medium Term View
Chart posted on 21.01.2025
Chart posted on 21.01.2025
Weekly Market Update by Devisha Ramsurrun
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.