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Treasury

Daily Market Patrol

Market Patrol 11 June 2020

Don't let the fear of losing be greater than the excitement of winning.

Robert Kiyosaki
Indicative Selling Rates
against MUR
USD
24 Sep 2021
  • AUD
  • 31.55
  • 0.7362
  • BWP
  • 3.91
  • 0.0913
  • CAD
  • 34.11
  • 1.2564
  • CNY
  • 6.72
  • 6.3745
  • DKK
  • 6.87
  • 6.2409
  • EUR
  • 50.50
  • 1.1785
  • HKD
  • 5.60
  • 7.6580
  • INR
  • 0.59
  • 72.6590
  • JPY
  • 39.12
  • 109.5434
  • KES
  • 39.35
  • 108.8984
  • NZD
  • 30.55
  • 0.7130
  • NOK
  • 5.08
  • 8.4425
  • SGD
  • 32.10
  • 1.3351
  • ZAR
  • 2.96
  • 14.4639
  • SEK
  • 5.03
  • 8.5245
  • CHF
  • 46.66
  • 1.0889
  • GBP
  • 59.01
  • 1.3772
  • USD
  • 42.85
  • 1.0000
  • AED
  • 11.80
  • 3.6323
The U.S dollar pared most of its overnight losses as dovish FOMC meeting triggered risk-off sentiment across the markets in Asia this morning.
Fundamental News

EUR/USD
The Single currency surged to a fresh high of $1.1422 post FOMC last night, but the weak tone in the global stock markets boded well for the U.S dollar and pushed the pair back to $1.1335 this morning.

 

GBP/USD
The Pound made a U-turn from $1.2823 last night to $1.2660 this morning as fears of hard Brexit started to weigh on the cable, after the European Union’s (EU) chief Brexit negotiator Michel Barnier flashed some stark warning to the UK while speaking at the European Economic and Social Committee.

 

USD/JPY
The Yen extended gains to 107.00 per dollar amid weak tone in the US stock index futures. The US central bank cut economic forecasts and anticipated the rates to remain unchanged until 2022.

 

AUD/USD
The Australian Dollar slumped to a low of $0.6922 from $0.7063 as risk-off trading intensified and boosted the haven demand for the U.S dollar across the board, while the Australian-Sino tensions also remained a drag on the Aussie dollar.

 

USD/ZAR
The rand cascaded to 16.72 against the greenback after the US Federal Reserve kept the door open for unconventional monetary policy tools, like Yield Curve Control (YCC) while announcing a no rate change on Wednesday. 

 

USD/MUR
The USD/MUR kept the idle stance at 40.10(selling) this morning, unfazed by international market movements.

Fundamental & Technical Data
Economic Indicators-Local Time

16:30 - USD - Initial Jobless Claims

16:30 - USD - PPI (MoM) (May)

 

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
1.1524
1.2911
108.55
17.98
R2
1.1473
1.2862
108.21
17.66
R1
1.1424
1.2805
107.67
17.29
PP
1.1373
1.2756
107.33
16.80
S1
1.1324
1.2698
106.78
16.58
S2
1.1274
1.2649
106.45
15.92
S3
1.1225
1.2592
105.90
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 Technical Analysis on GBP by Aassan Deedarun on Radio One
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  • 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.