Market Patrol 17 September 2020

All progress takes place outside the comfort zone.

Michael John Bobak

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 U.S dollar boosted after Fed's upbeat economic outlook.

Fundamental News

EUR/USD
The Shared currency nosedived to $1.1770 following the U.S. Federal Reserve's upbeat assessment of the economic recovery, and as the Fed increased tolerance for higher inflation pushed bond yields higher.

GBP/USD
The Cable pressured to $1.2930 ahead of Bank of England's monetary policy meeting due later today.

USD/JPY
The Japanese yen firmed at 105 versus the greenback after the Bank of Japan bank kept interest rates unchanged at -0.1%, and on comments that the Japanese economy could soon see higher output and exports.

AUD/USD
The Aussie dollar slipped to $0.7270 on U.S. dollar strength, although Australia’s August month employment data flashed welcome numbers earlier today.

USD/ZAR
South Africa's rand rallied to a six-month high at 16.20 against the U.S dollar on Wednesday, shaking off poor retail sales data as expectations of continued lower rates in the United Staes increased demand for the emerging market.

USD/MUR
The pair stayed put at 40.20(selling) on the domestic market.

Fundamental & Technical Data

Economic Indicators-Local Time

11:00 - JPY - BoJ Press Conference

13:00 - EUR - CPI (YoY) (Aug)

15:00 - GBP - BoE MPC Meeting Minutes

16:30 - USD - Initial Jobless Claims

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

European Central Bank

0.00%

10-Mar-2016

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

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

1.1963

1.3156

105.99

17.13

1.1923

1.3082

105.71

16.92

1.1869

1.3024

105.35

16.65

1.1829

1.2950

105.07

16.38

1.1775

1.2892

104.71

16.33

1.1735

1.2818

104.43

16.20

1.1681

1.2760

104.07

15.92

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Allan Juste

Head - Forex And Derivatives

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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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