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Daily Market Patrol

Market Patrol 15 June 2020

Don’t stay in bed, unless you can make money in bed.

George Burns
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 fiber relapsed to $1.1235 amid the European Union will debate a game-changing 750-billion-euro recovery fund on June 18-19.
Fundamental News

EUR/USD
The single currency extended its decline to $1.1235, as markets remained jittery following the Fed’s grim outlook last week. The market is eagerly awaiting the June 18-19 European Commission meeting on its pandemic relief proposal that EUR/USD has been banking on.


GBP/USD
The Pound slipped to $1.2465 on a report that British officials told their EU counterparts they will not extend the deadline for trade talks beyond the end of this year, while speculation about the potential for negative BoE rates on Thursday is also dragging cable lower. All eyes on EU-UK Brexit talk at 1230 GMT today.


USD/JPY
The Yen idled at 107.15 per dollar amid investors waiting for the Bank of Japan policy meeting on Tuesday.


AUD/USD
The Aussie plunged to $0.6785 on Monday as fears of a second wave of the coronavirus in Beijing prompted investors to sell currencies sensitive to risk.


USD/ZAR
The South African rand tumbled to 17.28 against the greenback on Friday's reports from credit ratings agency Fitch that it expected South Africa’s economy to shrink 5.5% this year, as the coronavirus lockdown batters an economy already in recession.

 

USD/MUR
The USD/MUR firmed at 40.25(selling), ignoring BOM’s intervention rate last week as lack of FCY on the domestic market continued to dominate price action.

 

Fundamental & Technical Data
Economic Indicators-Local Time
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
1.1455
1.2817
108.74
17.98
R2
1.1398
1.2735
108.15
17.66
R1
1.1327
1.2637
107.77
17.29
PP
1.1270
1.2555
107.19
16.80
S1
1.1199
1.2457
106.80
16.58
S2
1.1142
1.2376
106.21
15.92
S3
1.1071
1.2278
105.83
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.