Market Patrol 16 September 2020

The ceilings we place on ourselves must be lifted by us, as much as by the law.

Lule Demmissie

Indicative Selling Rates
against MUR
USD

18 Apr 2024

AUD
30.55
0.6504

BWP
3.46
0.0738

CAD
34.43
1.3642

CNY
6.58
7.1369

DKK
6.82
6.8835

EUR
50.41
1.0732

HKD
6.09
7.7142

INR
0.57
82.2069

JPY
30.79
152.5363

KES
36.08
130.1709

NZD
28.05
0.5972

NOK
4.37
10.7550

SGD
34.90
1.3459

ZAR
2.55
18.3894

SEK
4.36
10.7728

CHF
51.95
1.1061

GBP
58.86
1.2531

USD
46.97
1.0000

AED
12.99
3.6158

U.S dollar energized overnight ahead of FOMC statement

Fundamental News

EUR/USD

The single currency plummeted to $1.1827 as tension is mounting ahead of the last Federal Reserve rate decision before the elections and U.S. retail sales.

GBP/USD
Sterling rose to $1.2915, on better-than-expected U.K. jobs data on Tuesday and Prime Minister Johnson faced opposition within his party to proposed legislation that would breach the Brexit treaty.

USD/JPY
The safe-haven yen soared to 105.22 per dollar as the Lower House of Japan’s parliament formally elected Yoshihide Suga as the country’s new Prime Minister.

AUD/USD
The Aussie pierced $0.7322 this morning on upbeat trade sentiment ahead of FOMC meeting at 1800 GMT.

USD/ZAR
The South African rand surged to 16.38 against the greenback buoyed by vaccine hopes creeping back into local markets.

USD/MUR
The pair remain stagnant at 40.20(selling) on the domestic market.

Fundamental & Technical Data

Economic Indicators-Local Time

10:00 - GBP - CPI (YoY)(Aug)

16:30 - USD - Core Retails Sales (MoM)(Aug)

16:30 - CAD - Core CPI (MoM)(Aug)

18:30 - USD - Crude Oil Inventories

22:00 - USD - Fed Interest Rate Decision

22:00 - USD - FOMC Statement

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

1.1946

1.3051

106.25

17.13

1.1924

1.2989

106.03

16.92

1.1885

1.2939

105.74

16.65

1.1862

1.2877

105.52

16.38

1.1824

1.2827

105.22

16.33

1.1801

1.2765

105.01

16.28

1.1763

1.2716

104.71

15.92

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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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