Market Patrol 01 October 2020

The best buy by way of management is brains at any price.

Malcom Forbes

Indicative Selling Rates
against MUR
USD

19 Apr 2024

AUD
30.42
0.6459

BWP
3.47
0.0737

CAD
34.46
1.3664

CNY
6.60
7.1402

DKK
6.82
6.9093

EUR
50.34
1.0691

HKD
6.10
7.7148

INR
0.57
82.1874

JPY
30.85
152.6385

KES
35.97
130.9049

NZD
27.96
0.5937

NOK
4.35
10.8251

SGD
34.91
1.3490

ZAR
2.53
18.6446

SEK
4.35
10.8361

CHF
52.18
1.1081

GBP
58.79
1.2484

USD
47.09
1.0000

AED
13.02
3.6162

U.S dollar clawed back gains overnight on fresh U.S fiscal stimulus hopes

Fundamental News

EUR/USD

The single currency surged to $1.1745 after ECB President Lagarde hinted that a strategy overhaul, and a more accommodative approach to inflation, could be possible.

GBP/USD

The cable bolstered to $1.2940 amid broad dollar weakness as U.S House delayed vote on $2.2 trillion aid package, with proposed stimulus at $1.5 trillion as reported by U.S Treasury Secretary Mnuchin.

USD/JPY

The safe-haven Japanese Yen flounced to $105.42 although Japan’s Tankan Large Manufacturing Index plummeted to -27 in the third quarter.

AUD/USD

The Aussie pierced $0.7183, underpinned by China’s manufacturing Purchasing Manager's Index that rose to 51.5 in September from 51.0 in August, reviving hopes of an economic recovery.

USD/ZAR

The rand soared to 16.66 per dollar after better-than-expected local core consumer price index and trade balance data yesterday boosted appetite for the currency.

USD/MUR

The pair unfazed at 40.35(selling) on the domestic market.

Fundamental & Technical Data

Economic Indicators-Local Time

11:55 - EUR - German Manufacturing PMI (Sep)

12:30 - GBP - Manufacturing PMI (Sep)

14:00 - EUR - EU Leaders Summit

16:30 - USD - Initial Jobless Claims

18:00 - USD - ISM Manufacturing PMI (Sep)

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

05-Nov-2020

European Central Bank

0.00%

10-Mar-2016

29-Oct-2020

Bank of England

0.10%

19-May-2020

Bank of Japan

-0.10%

28-Jan-2016

Reserve Bank of Australia

0.25%

18-Mar-2020

S.Africa Reserve Bank

3.50%

23-Jul-2020

Reserve Bank of India

4.00%

22-May-2020

01-Oct-2020

Bank of Mauritius

1.85%

16-Apr-2020

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

1.1826

1.3112

106.11

17.36

1.1791

1.3027

105.96

17.21

1.1756

1.2974

105.71

17.08

1.1720

1.2890

105.56

17.97

1.1685

1.2837

105.31

16.77

1.1650

1.2753

105.16

16.50

1.1615

1.2700

104.91

16.06

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Allan Juste

Head - Forex And Derivatives

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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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