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Treasury

Daily Market Patrol

Market Patrol 29 October 2020

You have to pivot or perish, and not be scared to take chances.

Greg Bandelin
Indicative Selling Rates
against MUR
USD
20 Sep 2021
  • AUD
  • 31.22
  • 0.7295
  • BWP
  • 3.91
  • 0.0914
  • CAD
  • 33.73
  • 1.2691
  • CNY
  • 6.71
  • 6.3788
  • DKK
  • 6.84
  • 6.2566
  • EUR
  • 50.31
  • 1.1755
  • HKD
  • 5.59
  • 7.6619
  • INR
  • 0.59
  • 72.6819
  • JPY
  • 39.24
  • 109.0796
  • KES
  • 39.39
  • 108.6531
  • NZD
  • 30.30
  • 0.7080
  • NOK
  • 4.98
  • 8.5866
  • SGD
  • 32.02
  • 1.3367
  • ZAR
  • 2.94
  • 14.5487
  • SEK
  • 4.98
  • 8.5976
  • CHF
  • 46.22
  • 1.0799
  • GBP
  • 58.88
  • 1.3757
  • USD
  • 42.80
  • 1.0000
  • AED
  • 11.78
  • 3.6323
U.S dollar surged as a wave of risk aversion swept markets, prompted by a resurgence of COVID-19 cases in Europe.
Fundamental News

EUR/USD
The single currency nosedived to $1.1716 as devastating concerns of further damage to the economic recovery grew as French President Emmanuel Macron and German Chancellor Angela Merkel ordered their countries back into lockdown on Wednesday, but recouped losses at $1.1753 ahead of ECB Monetary Policy.

 

GBP/USD
Sterling plummeted to $1.2907 as a wave of risk aversion swept markets, prompted by a resurgence of COVID-19 cases in Europe, and recovered to $1.3019 on Brexit hopes.

 

USD/JPY
The Japanese Yen lingered at 104.40 against the U.S dollar, undermined by the Bank of Japan revising growth and inflation forecasts lower and keeping interest rates unchanged at -0.1%.

 

AUD/USD
The Aussie was taking stock at $0.7066, having shed 1.1% overnight to leave behind a peak of $0.7157, as increasing bets that the RBA will cut interest rates further in November might hold bulls from placing any aggressive bets.

 

USD/ZAR
The South African rand tumbled to 16.34 against the U.S dollar, following mid-term budget on Wednesday pledging to freeze public wage bill for three years to avert a looming debt crisis and allocating a $649.66 million bailout of state-owned beleaguered airline South African Airways.

 

USD/MUR
The Mauritian rupee tumbled by 5 cents to 40.40 (selling) against the dollar on the Mauritian market.

Fundamental & Technical Data
Economic Indicators-Local Time

12:55 - EUR - German Unemployment Change

16:30 - USD - Initial Jobless Claims

16:45 - EUR - Deposit Facility Rate (Oct)

16:45 - EUR - ECB Marginal Lending Facility

16:45 - EUR - ECB Interest Rate (Oct)

17:30 - EUR - ECB Press Conference

18:00 - USD - Pending Home Sales

 

 

 

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
05-Nov-2020
Bank of Japan
-0.10%
28-Jan-2016
29-Oct-2020
Reserve Bank of Australia
0.25%
18-Mar-2020
03-Nov-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
R3
1.1871
1.3162
105.24
17.27
R2
1.1855
1.3121
105.07
174.03
R1
1.1825
1.3083
104.74
16.80
PP
1.1809
1.3042
104.56
16.57
S1
1.1779
1.3004
104.24
16.77
S2
1.1763
1.2963
104.06
16.42
S3
1.1733
1.2926
103.74
16.35
Weekly FX Market Analysis 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.