Market Patrol 23 October 2020

Difficulties strengthen the mind as labor does the body.

Seneca

Indicative Selling Rates
against MUR
USD

24 Apr 2024

AUD
30.84
0.6580

BWP
3.43
0.0732

CAD
34.58
1.3552

CNY
6.56
7.1461

DKK
6.83
6.8651

EUR
50.42
1.0758

HKD
6.07
7.7178

INR
0.57
81.9769

JPY
30.62
153.0506

KES
35.48
132.1115

NZD
28.11
0.5997

NOK
4.40
10.6625

SGD
34.83
1.3457

ZAR
2.54
18.4847

SEK
4.40
10.6565

CHF
51.73
1.1037

GBP
58.66
1.2515

USD
46.87
1.0000

AED
12.96
3.6156

U.S dollar trod water as the U.S Presidential debate placated markets.

Fundamental News

EUR/USD
The single currency edged lower to $1.18 as a measured U.S. presidential debate left investors in a cautious mood.

GBP/USD
The cable slipped to $1.3060 on uncertainty over Brexit outlook. British Purchasing Managers' Index figures are due later at 12:30.

USD/JPY
The safe-haven yen jostled to 104.70 per dollar, paring some losses made on Thursday after U.S. House Speaker Nancy Pelosi said there was progress in stimulus talks.

AUD/USD
The Aussie hammered from $0.7140 to $0.7105 as markets are wagering heavily that the central bank will cut rates in early November from the current 0.25%, and expand its bond-buying to the longer-term debt.

USD/ZAR
The South African rand bolstered to 16.20 against the greenback extended its winning streak to a fifth consecutive session as optimism about a new stimulus package in the United States continued to feed demand for risk currencies. Locally, the market is on watch ahead of the medium-term budget speech due next Wednesday.

USD/MUR
The Mauritian rupee remained put at 40.25(selling) on the local market.

Fundamental & Technical Data

Economic Indicators-Local Time

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

11:30 - EUR - German Manufacturing PMI(Oct)

12:00 - EUR - German Ifo Business Climate

12:30 - GBP - Composite PMI (Oct)

12:30 - GBP - Manufacturing PMI (Oct)

12:30 - GBP - Services PMI (Oct)

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

05-Nov-2020

European Central Bank

0.00%

10-Mar-2016

29-Oct-2020

Bank of England

0.10%

19-May-2020

Bank of Japan

-0.10%

28-Jan-2016

Reserve Bank of Australia

0.25%

18-Mar-2020

S.Africa Reserve Bank

3.50%

23-Jul-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

1.1909

1.3217

105.48

17.27

1.1888

1.3185

105.20

174.03

1.1853

1.3134

104.75

16.80

1.1832

1.3102

104.75

16.57

1.1797

1.3051

104.58

16.77

1.1777

1.3019

104.31

16.42

1.1742

1.2968

104.14

16.35

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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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