Market Patrol 18 March 2021

There is no harm in being sometimes wrong - especially if one is promptly found out

John Maynard Keynes

Indicative Selling Rates
against MUR
USD

20 Dec 2024

AUD
30.10
0.6322

BWP
3.54
0.0745

CAD
33.29
1.4301

CNY
6.72
7.0815

DKK
6.71
7.0904

EUR
49.58
1.0414

HKD
6.22
7.6568

INR
0.57
83.7507

JPY
31.08
153.1735

KES
37.41
127.2757

NZD
27.03
0.5677

NOK
4.24
11.2216

SGD
35.54
1.3396

ZAR
2.68
17.7715

SEK
4.37
10.8960

CHF
53.34
1.1203

GBP
59.72
1.2543

USD
47.61
1.0000

AED
13.26
3.5895

The Greenback tumbled across the board after Fed sticks to dovish tone in its policy decision

Fundamental News

EUR/USD
The Single currency poked to a high of $1.1987 bolstered by the Fed's strong economic forecast and Powell's comments that it is too early to discuss tapering-off measures.

GBP/USD
The Pound trading higher at $1.3936 ahead of the B.O.E policy meeting today despite Britain could see a significant reduction in the amount of COVID-19 vaccines available at the end of the month due to a cut in manufacturing supply.

USD/JPY
The Japanese yen gained to 108.93 against the greenback as the Bank of Japan is expected to slightly widen its long-term interest rates band to allow the rates to move around the 0% target.

AUD/USD
The Aussie gained rose to a two-week top of $0.7835, driven by an upbeat Australian jobs report earlier today.

USD/ZAR
The Rand pumped-up to 14.68 versus a weaker U.S dollar after the U.S. Fed pledged to keep interest rates near zero for years to come.

USD/MUR
The dollar-rupee wobbled near its high at 40.70 selling, traumatized after recent BOM's intervention on Tuesday.

Fundamental & Technical Data

Economic Indicators-Local Time

12:00 - EUR - ECB President Lagarde speaks

16:00 - GBP - BoE Interest rate decision

16:00 - GBP - BoE MPC Meeting Minutes

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

17-Mar-2021

European Central Bank

0.00%

10-Mar-2016

03-Mar-2021

Bank of England

0.10%

19-May-2020

04-Feb-2021

Bank of Japan

-0.10%

28-Jan-2016

18-Mar-2021

Reserve Bank of Australia

0.10%

03-Nov-2020

02-Mar-2021

S.Africa Reserve Bank

3.50%

23-Jul-2020

Reserve Bank of India

4.00%

22-May-2020

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

1.2114

1.4128

109.79

15.70

1.2050

1.4050

109.56

15.46

1.2015

1.4008

109.21

15.34

1.1951

1.3930

108.98

15.23

1.1916

1.3888

108.63

14.98

1.1852

1.3810

108.40

14.86

1.1817

1.3768

108.05

14.39

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Allan Juste

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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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