Market Patrol 23 February 2021

The hard work in trading comes in preparation. The actual process of trading, however, should be effortless

Jack Schwager

Indicative Selling Rates
against MUR
USD

23 Dec 2024

AUD
30.07
0.6355

BWP
3.51
0.0742

CAD
33.24
1.4232

CNY
6.68
7.0797

DKK
6.72
7.0362

EUR
49.65
1.0494

HKD
6.18
7.6570

INR
0.57
83.7046

JPY
31.01
152.5601

KES
37.32
126.7783

NZD
27.02
0.5712

NOK
4.28
11.0662

SGD
35.48
1.3335

ZAR
2.68
17.6547

SEK
4.36
10.8593

CHF
53.28
1.1261

GBP
59.82
1.2645

USD
47.31
1.0000

AED
13.18
3.5893

The dollar-rupee slipped by 5 cents to 40.15(selling) on the local market following intervention from the central bank.

Fundamental News

EUR/USD
The Shared currency gained to $1.2168 with investors turning cautious ahead of the FED Chairman Jerome Powell's appearance before Congress later today, where the latter is expected to reiterate an accommodative monetary policy.

GBP/USD
The Cable extended gains to $1.4084 as the U.K. rolled out a quick and successful COVID-19 vaccine program, in turn boosting confidence in a U.K. economic recovery.

USD/JPY
The Japanese yen rose to 105.05 on a weak U.S dollar amid a closed Japan market for Emperor's Birthday.

AUD/USD
The Australian Dollar maintains its path north to $0.7918 as China home prices show growth, therefore signaling an economic recovery in the region.

USD/ZAR
The South African’s rand rose to 14.61 against the greenback on expectations of signs of fiscal consolidation ahead of south African’s budget this week.

USD/MUR
The dollar-rupee slipped by 5 cents to 40.15(selling) on the local market following intervention from the central bank.

Fundamental & Technical Data

Economic Indicators-Local Time

11:00 - GBP - Average Earnings Index + Bonus (Dec)

11:00 - GBP - Claimant Count Change (Jan)

14:00 - EUR - CPI (YoY) (Jan)

19:00 - USD - CB Consumer Confidence (Feb)

19:00 - USD - Fed Chair Powell Testifies

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

1.2264

1.4209

106.48

15.02

1.2217

1.4148

106.17

14.84

1.2186

1.4104

105.62

14.78

1.2139

1.4043

105.31

14.62

1.2108

1.3999

104.76

14.49

1.2061

1.3938

104.45

14.39

1.2030

1.3894

103.90

14.23

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Allan Juste

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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