Market Patrol 4 December 2020

All progress takes place outside the comfort zone

Michael John Bobak

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

The Cable jumped to three-month high of $1.3462 on report of progress on fishing quotas

Fundamental News

EUR/USD
The Shared currency extended gains to $1.2154 as investors piled into bets the U.S. dollar has further to fall as the world begins to emerge from the COVID-19 pandemic.

GBP/USD
The Pound sterling surged to $1.3456 on report that the U.K. and EU have made progress on fishing quotas, stoking hopes that a post-Brexit deal is within sight.

USD/JPY
The Japanese yen gained traction to 103.86 against the U.S dollar amid a broad continuation of USD weakness.

AUD/USD
The Aussie dollar rose to $0.7434 shrugging off the weaker-than-expected Aussie Retail sales data released earlier today.

USD/ZAR
South Africa's rand climbed to 15.16 per U.S dollar, boosted by optimism about COVID-19 vaccines that have whetted risk appetite among global investors hungry for yield.

USD/MUR
The dollar-rupee unchanged at 40.30(selling).

Fundamental & Technical Data

Economic Indicators-Local Time

13:30 - GBP - Construction PMI (Nov)

17:30 - USD - Nonfarm Payroll (Nov)

17:30 - USD - Unemployment Rate (Nov)

17:30 - CAD - Employment Change (Nov)

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

16-Dec-2020

European Central Bank

0.00%

10-Mar-2016

10-Dec-2020

Bank of England

0.10%

19-May-2020

17-Dec-2020

Bank of Japan

-0.10%

28-Jan-2016

18-Dec-2020

Reserve Bank of Australia

0.10%

03-Nov-2020

01-Dec-2020

S.Africa Reserve Bank

3.50%

23-Jul-2020

Reserve Bank of India

4.00%

22-May-2020

04-Dec-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

1.2221

1.3595

105.22

16.42

1.2170

1.3518

104.99

15.81

1.2143

1.3442

104.70

15.67

1.2092

1.3365

104.47

15.46

1.2065

1.3289

104.18

15.18

1.2014

1.3212

103.95

15.04

1.1987

1.3136

103.66

14.73

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Allan Juste

Head - Forex And Derivatives

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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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