Market Patrol 1 June 2021

History is our collective memory, a source of wisdom and strength we can draw on when we need it.

Stephanie Meeks

Indicative Selling Rates
against MUR
USD

15 Jan 2025

AUD
29.79
0.6292

BWP
3.43
0.0726

CAD
33.27
1.4229

CNY
6.66
7.1114

DKK
6.64
7.1328

EUR
49.01
1.0354

HKD
6.17
7.6752

INR
0.56
85.1083

JPY
30.82
153.5780

KES
37.13
127.5093

NZD
26.80
0.5661

NOK
4.25
11.1335

SGD
35.15
1.3467

ZAR
2.59
18.2579

SEK
4.30
11.0196

CHF
52.22
1.1031

GBP
58.07
1.2267

USD
47.34
1.0000

AED
13.19
3.5889

EUR/USD spiked to $1.2236 on upbeat German data and positive comments from Chancellor Merkel.

Fundamental News

EUR/USD
The common currency spiked to $1.2236, powered by upbeat prints of Germany’s Harmonized Index of Consumer Prices coupled with comments from German Chancellor Merkel suggesting no extension to the virus lockdown after the currency expiry in June.

GBP/USD
Sterling vaulted to $1.4248 last night amid hopes that the UK vaccination campaign is ramped up with immunization optimism.

USD/JPY
Yen tread water around 109.50 per dollar despite optimistic remarks from Japanese Finance Minister Aso that the ‘difference of opinions over global taxation has narrowed.”

AUD/USD

Aussie inched lower from $0.7768 to $0.7740 after RBA maintained the status-quo on its cash rate, while the policymakers reaffirmed their commitment to stick with highly accommodative conditions until at least 2024.

USD/ZAR
Rand reached its highest level in past three years at 13.70 per dollar, ahead of local unemployment rate data for first quarter at 13:30 today.

USD/MUR
The dollar-rupee unchanged at 40.88(selling) on the domestic market.

Fundamental & Technical Data

Economic Indicators-Local Time

11:55 - EUR - German Manufacturing PMI (May)

11:55 - EUR - German Unemployment Change (May)

12:30 - GBP - Manufacturing PMI (May)

13:00 - EUR - CPI (YoY)(May)

18:00 - USD - ISM Manufacturing PMI (May)

19:00 - GBP - BoE Gov Bailey Speaks

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

16-Jun-2021

European Central Bank

0.00%

10-Mar-2016

10-Jun-2021

Bank of England

0.10%

19-May-2020

24-Jun-2021

Bank of Japan

-0.10%

28-Jan-2016

18-Jun-2021

Reserve Bank of Australia

0.10%

03-Nov-2020

01-Jun-2021

S.Africa Reserve Bank

3.50%

23-Jul-2020

20-May-2021

Reserve Bank of India

4.00%

22-May-2020

06-Aug-2021

Bank of Mauritius

1.85%

16-Apr-2020

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

1.2293

1.4284

110.49

15.09

1.2262

1.4251

110.21

14.78

1.2244

1.4231

109.91

14.60

1.2214

1.4197

109.63

14.22

1.2196

1.4177

109.32

13.80

1.2165

1.4144

109.05

13.2

1.2148

1.4123

108.74

13.03

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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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