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Treasury

Daily Market Patrol

Market Patrol 19 June 2020

The market does not know you exist. You can do nothing to influence it. You can only control your behavior

Alexandre Elder
Indicative Selling Rates
against MUR
USD
24 Sep 2021
  • AUD
  • 31.55
  • 0.7362
  • BWP
  • 3.91
  • 0.0913
  • CAD
  • 34.11
  • 1.2564
  • CNY
  • 6.72
  • 6.3745
  • DKK
  • 6.87
  • 6.2409
  • EUR
  • 50.50
  • 1.1785
  • HKD
  • 5.60
  • 7.6580
  • INR
  • 0.59
  • 72.6590
  • JPY
  • 39.12
  • 109.5434
  • KES
  • 39.35
  • 108.8984
  • NZD
  • 30.55
  • 0.7130
  • NOK
  • 5.08
  • 8.4425
  • SGD
  • 32.10
  • 1.3351
  • ZAR
  • 2.96
  • 14.4639
  • SEK
  • 5.03
  • 8.5245
  • CHF
  • 46.66
  • 1.0889
  • GBP
  • 59.01
  • 1.3772
  • USD
  • 42.85
  • 1.0000
  • AED
  • 11.80
  • 3.6323
The Fx market saw a broad safe-haven U.S dollar strength as a resurgence in corona virus cases knocked confidence in a rapid economic recovery and drove investors to the safety of the world’s reserve currency.
Fundamental News

EUR/USD
The single currency lost ground to $1.1215 on the back of a strong U.S dollar as concerns about a rise in new coronavirus cases globally and higher-than-expected U.S. unemployment claims drove demand for the safe-haven currency.

 

GBP/USD
The Sterling sank to $1.2430, falling more than 1% after the Bank of England increased its bond-buying programmed by 100 billion pounds ($125 billion) to bolster the coronavirus-hit economy.

 

USD/JPY
The Japanese Yen firmer at 106.80/dlr as investors place a premium on safety in the face of political and pandemic uncertainties.

 

AUD/USD
The Aussie dollar crawled to $0.6855 from the session low of 0.6840 after Australia reported a rise in retail sales in May.

 

USDZAR
South Africa's rand tumbled to 17.49 against the U.S dollar despite the country loosening coronavirus restrictions as global risk sentiment was hurt again by fears of a second wave of infections.

 

USD/MUR

The USD/MUR climbed by 10 cts to 40.30(selling) this morning

 

Fundamental & Technical Data
Economic Indicators-Local Time

10:00 - GBP - Retail Sales (MoM) (May)

14:00 - EUR - EU Leaders Summit 

16:30 - CAD - Core Retail Sales (MoM) (Apr)

21:00 - USD - Fed Chair Powell Speaks 

 

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
1.1324
1.2671
107.64
17.98
R2
1.1293
1.2630
107.39
17.66
R1
1.1249
1.2593
107.18
17.29
PP
1.1218
1.2464
106.93
16.80
S1
1.1174
1.2362
109.72
16.58
S2
1.1143
1.2300
106.47
15.92
S3
1.1099
1.2198
106.26
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 Technical Analysis on GBP by Aassan Deedarun on Radio One
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    Head - Forex And Derivatives
    +230 5251 4855
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    Head – Treasury Sales
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    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.