Market Patrol 3 September 2020

Never give in except to convictions of honor and good sense.

Winston Churchill

Indicative Selling Rates
against MUR
USD

26 Apr 2024

AUD
30.81
0.6583

BWP
3.44
0.0736

CAD
34.56
1.3545

CNY
6.55
7.1468

DKK
6.83
6.8533

EUR
50.43
1.0774

HKD
6.07
7.7145

INR
0.57
82.0087

JPY
30.36
154.1916

KES
35.30
132.5951

NZD
28.14
0.6011

NOK
4.36
10.7396

SGD
34.76
1.3465

ZAR
2.54
18.4356

SEK
4.36
10.7346

CHF
51.60
1.1024

GBP
58.79
1.2560

USD
46.81
1.0000

AED
12.95
3.6161

The Single currency fell sharply amid growing ECB concern over euro strength.

Fundamental News

EUR/USD
The Shared currency extended losses to $1.1814 on growing expectations the European Central Bank would roll out more stimulus after ECB official red-flagged the euro appreciation.

GBP/USD
The Pound Sterling fell to $1.3298 as U.K. policymakers warned that Britain's economy could suffer more damage than anticipated by the Bank of England last month.

USD/JPY
The Japanese yen edged lower to 106.30 against the greenback, ignoring Wednesday's weaker than expected U.S. ADP report.

AUD/USD
The Aussie dollar remained on the back foot at $0.7316 as downbeat data from Australia and China weighing heavily on the currency.

USD/ZAR
The South African rand lost traction to 16.87/dlr after nationwide electricity blackouts by state firm Eskom for a second day rekindled concerns about the country's ability to shake off recession and a fiscal crisis.

USD/MUR
The Mauritian rupee is unchanged at 40.20(Selling) following Bank of Mauritius' intervention on the domestic market on Wednesday.

Fundamental & Technical Data

Economic Indicators-Local Time

12:30 - GBP - Services PMI (Aug)

12:30 - GBP - Composite PMI (Aug)

16:30 - USD - Initial Jobless claims

18:00 - GBP - BoE Gov Bailey Speaks

18:00 - USD - ISM Non-Manufacturing PMI (Aug)

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

1.2022

1.3529

106.83

17.78

1.1976

1.3466

106.56

17.23

1.1915

1.3409

106.38

17.11

1.1869

1.3346

106.11

16.89

1.1808

1.3289

105.93

16.65

1.1772

1.3226

105.66

16.51

1.1701

1.3169

105.48

16.35

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Allan Juste

Head - Forex And Derivatives

+230 5251 4855

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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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