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Treasury

Daily Market Patrol

Market Patrol 22 June 2020

To be a good trader, you need to trade with your eyes open, recognize real trends and turns, and not waste time or energy on regrets and wishful thinking. 

Alexandre Elder
Indicative Selling Rates
against MUR
USD
21 Oct 2021
  • AUD
  • 32.60
  • 0.7573
  • BWP
  • 3.94
  • 0.0915
  • CAD
  • 35.25
  • 1.2214
  • CNY
  • 6.83
  • 6.3076
  • DKK
  • 6.84
  • 6.2899
  • EUR
  • 50.38
  • 1.1702
  • HKD
  • 5.63
  • 7.6497
  • INR
  • 0.58
  • 73.7278
  • JPY
  • 38.04
  • 113.1606
  • KES
  • 39.30
  • 109.5385
  • NZD
  • 31.21
  • 0.7250
  • NOK
  • 5.27
  • 8.1705
  • SGD
  • 32.40
  • 1.3288
  • ZAR
  • 3.03
  • 14.1860
  • SEK
  • 5.07
  • 8.4831
  • CHF
  • 47.20
  • 1.0963
  • GBP
  • 59.70
  • 1.3867
  • USD
  • 43.05
  • 1.0000
  • AED
  • 11.85
  • 3.6325
The U.S dollar held on to gains won last week and moved a whisker higher against its peers this morning as renewed worries about a second wave of corona virus infections sent investors into the safe haven greenback.
Fundamental News

EUR/USD
The Single currency dipped to a 3-week low of $1.1168 this morning before recovering to $1.1200 squeezed as European Union leaders remain divided on how to structure a planned COVID-19 fund.

 

GBP/USD
The Pound fell to a low of $1.2355 after fresh data on Friday showed government borrowing had hit record highs, more evidence that the coronavirus-stricken economy was a long way from recovering.

 

USD/JPY
The Japanese yen meandered around 106.90 against the greenback as traders seemed to be confused over the risk-safe natures of the respective currencies amid broad risk-off mood.

 

AUD/USD
The Aussie clawed back losses to $0.6870 on Monday as RBA Governor Philip Lowe signaled he was comfortable with the currency’s steep rise in recent weeks and reiterated his optimism that the economic downturn in Australia would not be as dire as first geared given the country’s success in containing the coronavirus.


USD/ZAR

The Rand strengthened to 17.30 on Friday, recovering from last week's tumble on profit-taking ahead of a supplementary budget penciled in for June 24, when Finance Minister Tito Mboweni is expected to unveil a major shake-up in spending and revenue forecasts for the recession-hit economy.

 

USD/MUR
The USD/MUR opened firm at 40.30(selling) today.

Fundamental & Technical Data
Economic Indicators-Local Time

18:00 - USD - Existing Home Sales (May)

18:15 - EUR - ECB's De Guindos 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
1.1317
1.2535
10732
17.98
R2
1.1286
1.2495
107.19
17.66
R1
1.1231
1.2423
107.03
17.51
PP
1.1200
1.2383
106.90
16.80
S1
1.1145
1.2311
106.74
16.58
S2
1.1114
1.2271
106.61
15.92
S3
1.1059
1.2119
106.45
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 Market Update 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.