Market Patrol 12 August 2020

Your positive action combined with positive thinking results in success

Shiv Khera

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

The greenback boosted by higher yields and rising hopes of a U.S. economic recovery.

Fundamental News

EUR/USD
The Shared currency plunged towards $1.1720 with higher U.S. yields and rising hopes of a U.S. economic recovery from COVID-19 supporting the greenback.

GBP/USD
The British pound dropped to $1.3041 despite the U.K. GDP monthly release showed that the U.K. economy expanded sharply in June, arriving at +8.7% versus +8.0% expected.

USD/JPY
The Japanese yen extended losses to 106.70 against the greenback as the U.S. Treasury bond yields surged higher, weighing heavily on the allure of the safe-haven currency.

AUD/USD

The Aussie dollar trickled to $0.7118 on disappointing economic news from Australia, with consumer confidence falling sharply in August, and annual wage growth slowed to its lowest on record in the June quarter.

USD/ZAR
South Africa's rand recovered to 17.52/dlr this morning, having fallen to its weakest in nearly 12 weeks the previous day at 17.72 versus the greenback.

USD/MUR
The U.S dollar rose by 10 cents to 40.30(selling) on the domestic market.

Fundamental & Technical Data

Economic Indicators-Local Time

13:00 - EUR - Industrial Production (MoM) (Jul)

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

18:30 - USD - Crude Oil Inventories

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

14-Sep-2020

European Central Bank

0.00%

10-Mar-2016

10-Sep-2020

Bank of England

0.10%

19-May-2020

17-Sep-2020

Bank of Japan

-0.10%

28-Jan-2016

17-Sep-2020

Reserve Bank of Australia

0.25%

18-Mar-2020

01-Sep-2020

S.Africa Reserve Bank

3.50%

23-Jul-2020

17-Sep-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

1.1877

1.3196

107.58

18.25

1.1843

1.3149

107.13

17.85

1.1791

1.3111

16.82

17.67

1.1757

1.3065

106.37

17.00

1.1705

1.3017

106.06

16.32

1.1671

1.2981

105.61

16.17

1.1619

1.2943

105.30

16.00

Technical Analysis - Forex Charts

Japanese Yen may flirt to 105.30/19/dlr, further underscoring what may appear to be a buoyant month.

Chart updated on 24.07.2020

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Allan Juste

Head - Forex And Derivatives

+230 5251 4855

Email
Reshma Peerun Rajwani

Head – Treasury Sales

+230 403 5500

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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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