Market Patrol 14th April 2023

"Life is 10% what happens to you and 90% how you react to it ."

Charles R. Swindoll

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

U.S. Dollar languished across the board after the drop in U.S. Core producer Price Index.

Fundamental News

EUR/USD

The Single currency advanced to $1.1072 following a higher-than-expected reading of Eurozone Industrial Production, which rose from 1% to 1.5% in February.

GBP/USD

The Cable surged to $1.2540 in the wake of a downbeat performance of the U.S. Core Producer Price Index(PPI) released yesterday.

USDJPY

The Japanese Yen jumped to 132.40 against the greenback ahead of the much-awaited U.S. Retail sales due later today.

AUD/USD

The Aussie crept higher to $0.6777 amid the release of positive China Trade Balance data displayed yesterday.

USD/CAD

The Loonie powered to 1.3322 after a slew of sluggish U.S. economic data this week fueled expectations that the Federal Reserve is nearing the end of its rate hiking cycle.

USD/ZAR

The South African Rand shot up to 18.0171 as a weaker dollar helped to lift commodity prices and emerging markets currencies.

USD/MUR
The dollar-rupee fell by 15 cents to 45.40(selling).

Fundamental & Technical Data

Economic Indicators-Local Time

16.30 USD Retail Sales (MOM)

16.30 CAD Manufacturing Sales(Feb)

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

1.1175

1.2605

134.68

20.82

1.1122

1.2571

134.03

19.24

1.1084

1.2547

133.31

18.75

1.1031

1.2513

132.66

17.04

1.0993

1.2489

131.94

16.55

1.0940

1.2455

131.29

16.06

1.0902

1.2331

130.57

15.36

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

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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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