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Treasury

Daily Market Patrol

Market Patrol 16th September of 2024

Perseverance is failing 19 times and succeeding the 20th.

 

Julie Andrews
Indicative Selling Rates
against MUR
USD
17 Oct 2024
  • AUD
  • 31.82
  • 0.6785
  • BWP
  • 3.60
  • 0.0767
  • CAD
  • 34.36
  • 1.3651
  • CNY
  • 6.78
  • 6.9139
  • DKK
  • 6.92
  • 6.7748
  • EUR
  • 51.16
  • 1.0908
  • HKD
  • 6.12
  • 7.6573
  • INR
  • 0.57
  • 82.6868
  • JPY
  • 32.16
  • 145.8299
  • KES
  • 37.00
  • 126.7634
  • NZD
  • 28.68
  • 0.6115
  • NOK
  • 4.38
  • 10.7030
  • SGD
  • 36.27
  • 1.2930
  • ZAR
  • 2.75
  • 17.0628
  • SEK
  • 4.52
  • 10.3821
  • CHF
  • 54.46
  • 1.1613
  • GBP
  • 61.21
  • 1.3052
  • USD
  • 46.90
  • 1.0000
  • AED
  • 13.07
  • 3.5886
The Greenback dipped across the board due to growing expectation for a jumbo rate cut by Fed.
Fundamental News

EURUSD
The Euro sailed higher to $1.1100 after the Eurozone Industrial Production data published a higher- than expected reading, markets awaits the Federal Reserve meeting where the central bank is likely to cut interest rates this Wednesday.

GBPUSD

The Pound Sterling ticked up to $1.3155 despite markets are betting on more Bank of England (BoE) rate cuts after U.K data released last week pointed to a slowdown in the U.K wage growth. 

USDJPY
The Japanese Yen propelled to 140.14 against the U.S. dollar amid anticipation that the Bank of Japan Interest rate decision on this Friday would provide a hawkish outlook for interest rates.

AUDUSD
The Australian dollar hopped to $0.6725 unfazed by the rise in China's Unemployment Rate to 5.3% which is Australia's main trading partner.

USDCAD
The Canadian dollar ran slowly to 1.3567 against its U.S. counterpart on upbeat Canada Wholesale data.

USDZAR
The South African Rand surged to 17.69 against the greenback underpinned to a rising odds of an aggressive rate cut by the Federal Reserve.

USDMUR
The dollar-rupee fell by 5 cents to 46.35(selling) this morning.

Fundamental & Technical Data
Economic Indicators-Local Time

13.00  EUR  Wages in Euro Zone

13.00 EUR   Trade Balance

16.00 EUR   ECB's Lane Speaks

16.30 USD  NY Empire State Manufacturing Index.

 

 

 

 

 

 

 

 

Central Bank Interest Rates
Last Change
New Meeting
Federal Bank of U.S
5.50%
20-Sep-2023
18-Sep-2024
European Central Bank
3.50%
12-Sep-2024
17-Oct-2024
Bank of England
5.00%
01-Aug-2024
19-Sep-2024
Bank of Japan
0.25%
31-Jul-2024
19-Sep-2024
Reserve Bank of Australia
4.35%
07-Nov-2023
24-Sep-2024
S.Africa Reserve Bank
8.25%
23-Nov-2023
19-Sep-2024
Reserve Bank of India
6.50%
04-Oct-2023
09-Oct-2024
Bank of Mauritius
4.50%
04-Nov-2022
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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
R3
1.1127
1.3195
143.30
18.00
R2
1.1115
1.3176
142.60
17.91
R1
1.1095
1.3152
141.69
17.83
PP
1.1083
1.3133
140.99
17.75
S1
1.1063
1.3109
140.08
17.66
S2
1.1051
1.3090
139.38
17.58
S3
1.1031
1.3066
138.47
17.49
Technical Analysis - Forex Charts
EUR/USD Outlook- Likely to take a breather before a big jump forward
Chart updated on 08.05.2023
USD/MUR Outlook Bearish turn ahead !
Chart posted on 08.05.2023
EUR/MUR- A continuation of the uptrend!
Chart posted on 08.05.2023
The Pound is expected to experience a short-term rally before trending lower in wave C of a Zig-Zag corrective pattern
Chart posted on 12.08.2024
USD/ZAR bearish with potential for further downside to 17.50 (August 2023 level).
Chart posted on 13.03.2024
Yen bull, taking a breather before resuming its rally! 137.00
Chart posted on 12.08.2024
USDCAD - Medium term view
Chart posted on 27.08.2024
Weekly Market Update by Reshma Peerun Rajwani
Speak to our team
  • Allan Juste
    Head - Forex And Derivatives
    +230 5251 4855
  • Reshma Peerun Rajwani
    Head – Treasury Sales
    +230 403 5500
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.