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Daily Market Patrol

Market Patrol 17 June 2020

Your ultimate success or failure will depend on your ability to ignore worries of the world long enough to allow your investments to succeed.

Peter Lynch
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 safe haven appeal of the U.S dollar resuscitated on Tuesday after Fed chair Powell doused some of the rosy expectations, as he painted a rather bleak picture of the U.S economy in the wake of the coronavirus pandemic.
Fundamental News

EUR/USD

The Single currency slipped to $1.1269 after record increase in U.S retail sales data in May, signaling that the U.S economy is holding up better than expected, while anxiety before the June 19 European council meeting on EU economic aid dogged investor sentiment.

 

GBP/USD

The Pound tumbled to $1.2564 after the number of people on British employers’ payrolls fell by more than 600,000 in April and May as the coronavirus lock down hit the labour market.


USD/JPY

The Yen rebounded to 107.20/dlr as risk-off trading returned amid mounting fear of the second wave of coronavirus globally.


AUD/USD

The Aussie tumbled down to $0.6850 on a mixture of Fed pessimism, an outbreak in new COVID-19 infections in Beijing, and Sino-Australian tensions, weighing heavily on the pair.


USD/ZAR

The rand dropped to 17.20 against the greenback amid South African market was closed on Tuesday.

 

USD/MUR
The USD/MUR remained idle at 40.25(selling) on the domestic market.

 

Fundamental & Technical Data
Economic Indicators-Local Time

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

13:00 - EUR - CPI (YoY) (May)

16:30 - USD - Building Permits (May)

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

18:30 - USD - Crude Oil Inventories

20:00 - USD - Fed Chair Powell Testifies

Central Bank Interest Rates
Last Change
New Meeting
Federal Bank of U.S
EUR -
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
1.1468
1.2789
108.19
17.98
R2
1.1400
1.2738
107.87
17.66
R1
1.1362
1.2655
107.61
17.29
PP
1.1294
1.2604
107.30
16.80
S1
1.1225
1.2521
107.03
16.58
S2
1.1188
1.2470
106.73
15.92
S3
1.1150
1.2387
106.46
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.