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Treasury

Daily Market Patrol

Market Patrol 5th September of 2024

Perseverance is not a long race; it is many short races one after the other.

 

Walter Elliot
Indicative Selling Rates
against MUR
USD
18 Oct 2024
  • AUD
  • 31.93
  • 0.6800
  • BWP
  • 3.59
  • 0.0765
  • CAD
  • 34.32
  • 1.3682
  • CNY
  • 6.80
  • 6.9098
  • DKK
  • 6.92
  • 6.7819
  • EUR
  • 51.15
  • 1.0893
  • HKD
  • 6.13
  • 7.6574
  • INR
  • 0.57
  • 82.7282
  • JPY
  • 32.13
  • 146.1389
  • KES
  • 37.04
  • 126.7656
  • NZD
  • 28.71
  • 0.6114
  • NOK
  • 4.40
  • 10.6840
  • SGD
  • 36.30
  • 1.2937
  • ZAR
  • 2.76
  • 17.0450
  • SEK
  • 4.52
  • 10.3954
  • CHF
  • 54.57
  • 1.1621
  • GBP
  • 61.44
  • 1.3084
  • USD
  • 46.96
  • 1.0000
  • AED
  • 13.09
  • 3.5883
The Shared Currency soared after weaker U.S. Job Vacancies figures.
Fundamental News

EURUSD
The Single Currency surged to $1.1080 after the U.S. published a lower-than-expected U.S. JOLTS job openings data, boosting Federal Reserve rate cut bets.

GBPUSD

The Pound Sterling jumped to $1.3150 amid an upbeat  U.K. Composite and Services PMI reading.

USDJPY
The Japanese Yen shot to 143.48 against the greenback, underpinned by an overall wage income rise of Japanese employees by 3.6%.

AUDUSD
The Australian dollar climbed to $0.6723 following hawkish comments by the Reserve Bank of Australia (RBA) Governor Michele Bullock, stating that it is too early to consider rate cuts.

USDCAD
The Canadian dollar boosted to 1.3510 against its U.S. counterpart after the  Bank of Canada cut interest rates by 25bps to 4.25%, as expected.

USDZAR
The South African rand strengthened to 17.87 on improved investor sentiment, as signs the domestic economy is starting to gain momentum.

USDMUR
The dollar-rupee fell by 5 cents to 46.51(selling) this morning.

Fundamental & Technical Data
Economic Indicators-Local Time

16.15 USD ADP Nonfarm Employment Change.

16.30 USD Initial Jobless Claims

17.45 USD S&P Global Services PMI

18.00 USD ISM Non- Manufacturing PMI 

19.00 USD Crude Oil Inventories.

Central Bank Interest Rates
Last Change
New Meeting
Federal Bank of U.S
5.50%
20-Sep-2023
18-Sep-2024
European Central Bank
4.25%
26-Oct-2023
12-Sep-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
1.1166
1.3258
146.91
18.00
R2
1.1130
1.3216
146.26
17.91
R1
1.1107
1.3183
145.00
17.83
PP
1.1071
1.3141
144.35
17.75
S1
1.1048
1.3183
143.09
17.66
S2
1.1012
1.3216
142.44
17.58
S3
1.0989
1.3258
141.18
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.