Market Patrol 28 August 2020

It's not the load that breaks you down, it's the way you carry it

Lou Holtz

Indicative Selling Rates
against MUR
USD

18 Apr 2024

AUD
30.55
0.6504

BWP
3.46
0.0738

CAD
34.43
1.3642

CNY
6.58
7.1369

DKK
6.82
6.8835

EUR
50.41
1.0732

HKD
6.09
7.7142

INR
0.57
82.2069

JPY
30.79
152.5363

KES
36.08
130.1709

NZD
28.05
0.5972

NOK
4.37
10.7550

SGD
34.90
1.3459

ZAR
2.55
18.3894

SEK
4.36
10.7728

CHF
51.95
1.1061

GBP
58.86
1.2531

USD
46.97
1.0000

AED
12.99
3.6158

The U.S dollar retreated as rally post Powell's speech subsided.

Fundamental News

EUR/USD
The Shared Currency reversed losses from a low of $1.1761 to $1.1870, as investors seemed to shrug off a rise in U.S yields, following the Federal Reserve's aggressive strategy to lift employment and increase tolerance for higher inflation in the United States.

GBP/USD
The Cable extended gains to $1.3260 ahead of Bank of England governor Andrew Bailey's speech at the Jackson Hole event later today.

USD/JPY
The Japanese Yen trimmed losses to 106.17 against the greenback on news that Japanese Prime Minister Shinzo Abe is set to resign due to ill health.

AUD/USD
The Aussie dollar surged to $0.9294, tracking one of Australia’s top exports iron ore’s rally to 6-years, and on hopes of recovery in China's economy.

USD/ZAR
South Africa's rand weakened to 16.94 versus the U.S dollar despite South Africa's Purchase Price Index showed an increase to 1.9% vs 1.7% forecast.

USD/MUR
The Dollar-rupee stayed put at 40.20(Selling) unfazed by international movements.

Fundamental & Technical Data

Economic Indicators-Local Time

16:30 - CAD - GDP (MoM) (Jun)

17:05 - GBP - BoE Gov Bailey Speaks

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

14-Sep-2020

European Central Bank

0.00%

10-Mar-2016

10-Sep-2020

Bank of England

0.10%

19-May-2020

17-Sep-2020

Bank of Japan

-0.10%

28-Jan-2016

17-Sep-2020

Reserve Bank of Australia

0.25%

18-Mar-2020

01-Sep-2020

S.Africa Reserve Bank

3.50%

23-Jul-2020

17-Sep-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

1.2034

1.3393

108.07

17.78

1.1968

1.3339

107.38

17.23

1.1895

1.3269

106.98

17.11

1.1829

1.3215

106.29

16.89

1.1756

1.3145

105.89

16.65

1.1690

1.3091

105.20

16.51

1.1617

1.3021

104.80

16.35

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Allan Juste

Head - Forex And Derivatives

+230 5251 4855

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Head – Treasury Sales

+230 403 5500

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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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