Market Patrol 10 November 2020

I'm no genius, but I'm smart in spots, and I stay around these spots.

Tom Watson

Indicative Selling Rates
against MUR
USD

24 Apr 2024

AUD
30.84
0.6580

BWP
3.43
0.0732

CAD
34.58
1.3552

CNY
6.56
7.1461

DKK
6.83
6.8651

EUR
50.42
1.0758

HKD
6.07
7.7178

INR
0.57
81.9769

JPY
30.62
153.0506

KES
35.48
132.1115

NZD
28.11
0.5997

NOK
4.40
10.6625

SGD
34.83
1.3457

ZAR
2.54
18.4847

SEK
4.40
10.6565

CHF
51.73
1.1037

GBP
58.66
1.2515

USD
46.87
1.0000

AED
12.96
3.6156

The safe currency Yen took a drubbing across the board on 90% effective Phizer's Covid-19 vaccine.

Fundamental News

EUR/USD
The single currency fell sharply from a high of $1.1917 to $1.1795 on announcement that E.U. imposed $4 billion in tariffs on U.S. products, prolonging Trump trade war, effective today.

GBP/USD
The cable spiked to $1.3187 on comments from British finance minister Sunak on Monday, echoed Prime Minister Johnson, that Britain and the European Union have made significant progress in talks about a post-Brexit trade agreement.

USD/JPY
The safe currency Yen took a drubbing to a low of 105.36 versus the greenback on news of the development of a coronavirus vaccine which raised optimism of a global economic recovery.

AUD/USD
The Australian dollar marginally higher at $0.7285 as market cautiously welcome coronavirus vaccine news.

USD/ZAR
The South African rand surged to 15.40 against the dollar, on drugmaker Pfizer's announcement that its trial vaccine has been 90% effective based on initial trials in preventing COVID-19, raising optimism of a global recovery roadmap.

USD/MUR
The dollar-rupee remains afloat at 40.35(selling) on the local market.

Fundamental & Technical Data

Economic Indicators-Local Time

11:00 - GBP - Average Earnings Index + Bonus (Sep)

11:00 - GBP - Claimant Count Change (Oct)

16:00 - USD - EIA Short-Term Energy Outlook

19:00 - USD - JOLTs Job Openings (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

Bank of England

0.10%

19-May-2020

05-Nov-2020

Bank of Japan

-0.10%

28-Jan-2016

Reserve Bank of Australia

0.10%

03-Nov-2020

S.Africa Reserve Bank

3.50%

23-Jul-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

1.2014

1.3296

108.73

16.42

1.1967

1.3252

107.19

15.81

1.1890

1.3206

106.28

15.67

1.1843

1.3162

104.74

15.46

1.1765

1.3117

103.82

15.20

1.1718

1.3073

102.28

15.04

1.1641

1.3027

101.37

14.73

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Allan Juste

Head - Forex And Derivatives

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Head – Treasury Sales

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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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