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Daily Market Patrol

Market Patrol 24 June 2020

If you can't explain it simply, you don't understand it well enough.

Albert Einstein
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 U.S dollar was on the back foot on Tuesday, after upbeat data in Euroland boosted the euro above $1.1300 and helped stoked hopes for a global economic recovery, underpinning investor appetite for riskier currencies across the world.
Fundamental News

EUR/USD
The Single Currency surged to $1.1320 after upbeat data in Europe boosted the euro and helped stoke hopes for a global economic recovery, underpinning investor appetite for riskier currencies.

 

GBP/USD
The Pound held onto gains at $1.2515 on upbeat PMI data in both manufacturing and the services sector.

 

USD/JPY
The Yen bounced to 106.57 from 107.22/dlr early on Tuesday on U.S dollar weakness after U.S data showed that U.S business activity contracted for a fifth straight month in June.


AUD/USD
The Aussie kept the bullish stance to $0.6944 after U.S officials confirmed that the U.S-China trade deal is intact bolstered market confidence in the existing phase 1 deal.

 

USD/ZAR
The Rand edged up to 17.19/dlr as risk appetite improved, while on the radar is Finance Minister Tito Mboweni’s emergency budget in response to the COVID-19 crisis due today.

 

USD/MUR
The USD/MUR unbothered at 40.30(selling) on the domestic market.

Fundamental & Technical Data
Economic Indicators-Local Time

12:00 - EUR - German Ifo Business Climate Index (Jun)

12:00 - ZAR - Core CPI (MoM) (Apr)

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
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
1.1476
1.2656
108.29
17.98
R2
1.1412
1.2594
107.76
17.66
R1
1.1360
1.2557
107.14
17.51
PP
1.1296
1.2495
106.61
16.80
S1
1.1244
1.2458
105.99
16.58
S2
1.1180
1.2396
105.46
15.92
S3
1.1128
1.2359
104.84
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
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.