Market Patrol 26th January 2023

"I attribute my success to this - I never gave or took any excuse"

Florence Nightingale

Indicative Selling Rates
against MUR
USD

10 Jan 2025

AUD
29.77
0.6293

BWP
3.44
0.0727

CAD
33.12
1.4286

CNY
6.65
7.1115

DKK
6.63
7.1344

EUR
48.98
1.0353

HKD
6.17
7.6678

INR
0.56
84.4821

JPY
30.70
154.1067

KES
37.10
127.5082

NZD
26.72
0.5649

NOK
4.25
11.1409

SGD
35.13
1.3466

ZAR
2.59
18.2601

SEK
4.30
10.9994

CHF
52.21
1.1035

GBP
58.51
1.2367

USD
47.31
1.0000

AED
13.18
3.5890

The Canadian Dollar was little impressed with Bank of Canada's rate hike

Fundamental News

EURUSD

The Single Currency was little changed at $1.0910 following upbeat German IFO figures yesterday, while today's US GDP data shall take centerstage.

GBPUSD

The Cable oscillated within close ranges, reaching $1.2390, as a weaker UK PPI published yesterday halted further upside momentum.

USDJPY

The Japanese Yen took off against the U.S. dollar, reaching 129.35, as Japan's top currency diplomat, Masato Kanda, warned that sharp one-sided currency moves cannot be tolerated.

AUDUSD

The Australian Dollar reached a high of $0.7128, still dominated by the Reserve Bank of Australia's possible monetary tightening.

USDCAD

The Canadian Dollar was little impressed with BoC's interest rate rise and slightly improved to 1.3395 against the USD dollar as market digested its intention to hold on further tightening.

USDZAR

The South African Rand juggled within close ranges against the greenback at 17.10 ahead of the South African Reserve Bank's interest rate decision due today.

USDMUR

The U.S. dollar inched higher to 44.80(selling) against the rupee.

Fundamental & Technical Data

Economic Indicators-Local Time

17:30 USD Durable Goods Orders

17:30 USD Gross Domestic Product

17:30 USD Nondefence Capital Goods

19:00 USD New Home Sales

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

4.50%

01-Jan-0001

01-Feb-2023

European Central Bank

2.50%

01-Jan-0001

02-Feb-2023

Bank of England

3.50%

01-Jan-0001

02-Feb-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

1.1007

1.2563

131.68

18.57

1.0966

1.2484

131.14

17.58

1.0940

1.2442

130.36

16.97

1.0899

1.2363

129.82

16.48

1.0873

1.2321

129.04

15.98

1.0832

1.2242

128.50

15.28

1.0806

1.22

127.72

14.86

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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