Market Patrol 23 September 2020

Presence is one of the ways in which we get so much closer to power.

Arisha Michelle Hatch

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's haven demand fuelled across the board after Fed Chair Powell sent dovish signals

Fundamental News

EUR/USD
The single currency hammered to $1.1680 as investors grow increasingly worried about surging coronavirus infections in France and Spain, raising the risk of fresh lockdowns in Europe.

GBP/USD
The cable nosedived to $1.2685 after British Prime Minister Johnson unveiled on Tuesday new stricter restrictions on business activity to tackle a second wave of the coronavirus.

USD/JPY
The Japanese Yen plunged to 105.19 per dollar undermined by Fed Chairman Jerome Powell speech that the U.S. economy will suffer without stimulus, urging spending.

AUD/USD
The Aussie hit a six-week low at $0.7115 following a speech by Reserve Bank of Australia Deputy Governor Debelle on Tuesday where he signalled the likelihood of more monetary easing.

USD/ZAR
The rand tumbled to 16.88 against the greenback powered by data showing U.S. home sales surged to their highest level in nearly 14 years in August.

USD/MUR
The dollar-rupee bolstered by 10 cents to 40.35(selling), tracking demand for the greenback across the board.

Fundamental & Technical Data

Economic Indicators-Local Time

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

12:30 - GBP - Composite PMI, Manufacturing PMI, Services PMI

15:50 - JPY - BoJ Monetary Policy Statement

18:00 - USD - Fed Chair Powell Testifies

18:30 - USD - Crude Oil Inventories

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

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

1.1839

1.2987

105.88

17.30

1.1807

1.2927

105.48

17.08

1.1757

1.2830

105.20

16.96

1.1725

1.2770

104.80

16.82

1.1675

1.2674

104.53

16.62

1.1642

1.2614

104.13

16.52

1.1593

1.2517

103.86

16.42

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Allan Juste

Head - Forex And Derivatives

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Head – Treasury Sales

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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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