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Treasury

Daily Market Patrol

Market Patrol 10 June 2020

I know where I'm getting out before I get in.

Bruce Kovner
Indicative Selling Rates
against MUR
USD
20 Sep 2021
  • AUD
  • 31.22
  • 0.7295
  • BWP
  • 3.91
  • 0.0914
  • CAD
  • 33.73
  • 1.2691
  • CNY
  • 6.71
  • 6.3788
  • DKK
  • 6.84
  • 6.2566
  • EUR
  • 50.31
  • 1.1755
  • HKD
  • 5.59
  • 7.6619
  • INR
  • 0.59
  • 72.6819
  • JPY
  • 39.24
  • 109.0796
  • KES
  • 39.39
  • 108.6531
  • NZD
  • 30.30
  • 0.7080
  • NOK
  • 4.98
  • 8.5866
  • SGD
  • 32.02
  • 1.3367
  • ZAR
  • 2.94
  • 14.5487
  • SEK
  • 4.98
  • 8.5976
  • CHF
  • 46.22
  • 1.0799
  • GBP
  • 58.88
  • 1.3757
  • USD
  • 42.80
  • 1.0000
  • AED
  • 11.78
  • 3.6323
The U.S dollar nursed losses against most currencies on Tuesday amid some speculation the U.S. Federal Reserve could take steps to curb a recent rise in bond yields at its policy meeting today.
Fundamental News

EUR/USD

The Shared Currency surged to $1.1344 as the greenback nursed losses amid some speculation the U.S. Federal Reserve could take steps to curb a recent rise in bond yields at its policy meeting.

 

GBP/USD

The Cable was driven by dollar weakness on Tuesday, rising back above $1.27, as shifts in global risk appetite played a bigger role for sterling than domestic issues such as Brexit.

 

USD/JPY

The Yen extended gains to 107.35/dlr fearless ahead of the Fed meeting.

 

AUD/USD

The Aussie recovered to $0.6970 from a low of $0.6905 on Tuesday, still suffering remarks from China’s education ministry, telling students to consider whether to study in Australia or leave, amid escalating tensions Beijing and Canberra.

 

USD/ZAR

South Africa's rand extended gains to 16.59 against the U.S dollar on a strong advance in emerging currencies spurred by global economic recovery hopes.

 

USD/MUR
On the domestic market, the USD/MUR remained trapped at 40.10(selling).

Fundamental & Technical Data
Economic Indicators-Local Time

16:30 - USD - Core CPI (MoM) (May)

18:30 - USD - Crude Oil Inventories 

22:00 - USD - Fed Interest Rate Decision

22:00 - USD - FOMC Statement 

22:00 - USD - FOMC Press Conference 

 

 

Central Bank Interest Rates
Last Change
New Meeting
Federal Bank of U.S
0.00-0.25%
16-Mar-2020
10-Jun-2020
European Central Bank
0.00%
10-Mar-2016
04-Jun-2020
Bank of England
0.10%
19-May-2020
18-Jun-2020
Bank of Japan
-0.10%
28-Jan-2016
16-Jun-2020
Reserve Bank of Australia
0.25%
18-Mar-2020
02-Jun-2020
S.Africa Reserve Bank
4.25%
21-May-2020
-
Reserve Bank of India
4.00%
22-May-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
R3
1.1420
1.2871
111.429
17.98
R2
1.1390
1.2804
109.329
17.66
R1
1.1384
1.2790
108.470
17.29
PP
1.1294
1.2696
107.229
16.80
S1
1.1269
1.2656
106.370
16.58
S2
1.1243
1.2588
105.129
15.92
S3
1.1217
1.2548
103.029
14.98
Technical Analysis - Forex Charts
Safe-haven nature of FRANC SWISS may plummet USD/CHF to a downfall
Chart updated on 13.04.2020
  • From an Elliott Wave standpoint, USDCHF could potentially unfold into compelling impulsive Wave C of the zigzag correction of Wave (2) to a narrowing region 0.9550 (50% retracement of Wave (1)) to 0.9395 (100% projection of Wave A through B) in the near term trend, from the downside bias from April 6th high of 0.9797.
  • Price could immediately start to shoot back up into Wave (3) on a longer perspective.
  • Piercing above the resistance 0.9905 would endorse the structure.
  • Alternatively, broader bearish invalidation of Elliott Wave Structure rest at 0.9191 of March 9th low while Relative Strength Index signals a bullish recoil higher for the pair.
Weekly FX Market Analysis by Karishma Sewock Nobutsing on Radio One
Speak to our team
  • Allan Juste
    Head - Forex And Derivatives
    +230 5251 4855
  • Reshma Peerun Rajwani
    Head – Treasury Sales
    +230 403 5500
  • Karishma Sewock Nobutsing
    Senior Dealer - Treasury Sales
    (+230) 5943 9837
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.