Daily Market Report
2
nd
March 2018
Today’s Data Watch
Time Data Fore-cast Prev. Importan
ce
11:00
EUR German Retail Sales (YoY)
(JAN)
3.3% -1.9%
MEDIUM
14:00
GBP Carney Speaks on Monday
at Event in London
- -
HIGH
17:30
CAD Gross Domestic Product
(YoY) (DEC)
3.4% 3.5%
HIGH
Data from Yesterday
Time Data Actual Fore-cast Prev.
17:30 USD initial Jobless claims( 24 FEB) 210k 225k 220k
17:30 USD PCE Core (YoY) (JAN) 1.5% 1.5% 1.5%
19:00 USD ISM Employment (FEB) 59.7 - 54.2
FX Market Update
USD
The dollar sagged today, having pulled sharply back from
six-week highs after U.S. President Donald Trump's
decision to impose tariffs on steel and aluminium took the
wind out of the greenback's week-long recovery.
EUR
The euro inched up 0.1 percent to $1.2276 after rising 0.6
percent overnight. The common currency was still poised
for a loss of about 0.25 percent this week, during which it
slid to a seven-week low of $1.2154 on Thursday when the
dollar was still enjoying a broad bounce. Focus for the euro
was on the Italian parliamentary election scheduled on
Sunday and how much support populist agendas could
garner due to its potential impact on the European Union.
GBP
The pound was effectively flat at $1.3780 after bouncing
overnight from a near two-month low of $1.3712. British
Prime Minister Theresa May will lay out her views on how
to keep trade open between all of the United Kingdom and
the European Union in a key speech on Friday.
ZAR
South Africa's rand slipped to its lowest in two weeks on
yesterday, succumbing to month end demand for dollars by
local firms as the increasing chance of higher interest rates
in the United States lured bulls back into long-dollar
positions.
JPY
Against the Japanese Yen, the dollar was 0.15 percent
lower at 106.065 yen, having slid for the past two sessions
against the Japanese currency, which tends to gain in
times of risk aversion and equity market weakness. The
dollar fell to as low as 105.960 yen, its weakest since Feb.
16.
INR
Today is public holiday in India for Holi Festival.
MGA
USD/MGA trading at 3110/3160 and Euro/MGA trading in
the range 3800/3850 for the day. The local FX market is
long to the tune of USD 12 M.
Trading Idea
BUY GBP/USD AT 1.3710 TP AT 1.3800 SL AT 1.3670
Mauritian Market Highlights
Today the Bank of Mauritius is issuing 91 and 364 Days Bank of Mauritius
Bills and 182 Days Government of Mauritius Treasury Bills for a total nominal
amount of MUR 2,500 Million.
Bond Buzz and Money Market news
US Treasuries yield is currently trading at 2.81%.