Market Patrol 5th May 2023

“Setting goals is the first step in turning the invisible into the visible .”

Tony Robbins

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

The Euro on tenterhooks as Markets bet the European Central Bank would pause hikes soon.

Fundamental News

EUR/USD
The Single currency is a bit dicey at $1.1046 after the European Central Bank delivered its seventh straight rate hike to 3.75% but showed a downshift in the pace of its monetary tightening.

GBP/USD
The Cable spiked to a 48-week peak at $1.2617, boosted by an upward revision to U.K. services PMI.

USD/JPY
The Japanese yen extended gains to 134.14 versus the greenback, supported by its safe-haven status on concerns about U.S. regional banks turmoil.

AUD/USD
The Aussie dollar roared to $0.6733 after the central bank warned of upside risks on inflation earlier this morning.

USD/CAD
The Loonie catapulted to 1.3508 after comments from Governor Tiff Macklem that the central bank is ready to hike rates further if inflation gets stuck significantly above the 2% target.

USD/ZAR
The South African rand weakened to 18.29 against the greenback as worries about the banking sector in the U.S. rippled around the globe.

USD/MUR
The dollar-rupee stood firm at 45.70(Selling)

Fundamental & Technical Data

Economic Indicators-Local Time

12.30 - GBP - Construction PMI (April)

16.30- USD- Non Farm Payrolls (April)

16.30- USD- Unemployment Rate (April)

16.30- CAD- Employment Change (April)

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

01-Jan-0001

European Central Bank

2.50%

02-Feb-2023

Bank of England

4.0%

02-Feb-2023

Bank of Japan

-0.10%

01-Jan-0001

Reserve Bank of Australia

3.10%

01-Jan-0001

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

1.1178

1.2648

136.32

18.60

1.1135

1.2623

135.60

18.52

1.1073

1.2598

134.94

18.45

1.1030

1.2573

134.22

18.25

1.0968

1.2548

133.56

17.85

1.0925

1.2523

132.84

17.75

1.0863

1.2498

132.18

17.69

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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