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Treasury

Daily Market Patrol

Market Patrol 18 June 2020

Age is less relevant than the attitude toward continually improving.

Conrad Irwin
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 Mauritian Rupee gained 5 cents to 40.20(selling) against the US. dollar following BOM intervention yesterday.
Fundamental News

EUR/USD
The Single currency run out of gas to $1.1245 amid the market is awaiting details from the European council’s two-day meeting ending Friday to address the bloc’s recovery plan.

 

GBP/USD
The Pound meandered near $1.2550 before a Bank of England meeting today, where policymakers are expected to expand quantitative easing in the face of a faltering economy and rocky trade negotiations with the EU.


USD/JPY
The anti-risk Yen edged up to 106.80 per dollar on rising geopolitical tension between North Korea and South Korea combined with clashes between Indian and Chinese troops at a disputed border site.

 

AUD/USD
The Australian Dollar collapsed to $0.6872 after employment data shattered the relatively positive outlook portrayed by the Reserve Bank of Australia in its most recent meeting, as the unemployment rate climbed to 7.1% from 6.4% and the participation rate declined from 63.6% to 62.9% in May.

 

USD/ZAR
South Africa's rand percolated at 17.18 against the US dollar on Wednesday, following a sell-off sparked by fears of a second global wave of coronavirus infections.

 

USD/MUR
The USD/MUR opened a bit lower to 40.20(selling) following Bank of Mauritius's intervention yesterday.

 

Fundamental & Technical Data
Economic Indicators-Local Time

11:30 - CHF - SNB Interest Rate Decision

15:00 - GBP - BoE Interest Rate Decision

15:00 - GBP - BoE MPC Meeting Minutes

16:30 - USD - Philadelphia Fed Manufacturing Index (Jun)

 

 

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
1.1377
1.2671
107.80
17.98
R2
1.1336
1.2630
107.62
17.66
R1
1.1290
1.2593
107.31
17.29
PP
1.1248
1.2552
107.13
16.80
S1
1.1203
1.2515
106.82
16.58
S2
1.1161
1.2474
106.64
15.92
S3
1.1116
1.2438
106.33
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.