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Treasury

Daily Market Patrol

Market Patrol 5 June 2020

Wealth is the ability to fully experience life. 

Henry David Thoreau
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
The euro held on to big gains on Friday after the ECB expanded its stimulus more than expected to prop up a crumbling economy.
Fundamental News

EUR/USD
The single currency rocketed to $1.1350 following the announcement that the ECB increased its emergency bond purchase scheme by 600 billion euros to 1.35 trillion and extended the scheme to mid-2021.


GBP/USD
The Sterling surged to $1.2650, tracking a higher EUR/USD, boosted by an increase of bong-buying in the Pandemic Emergency Purchase Programme.


USD/JPY
The yen edged lower to 109.12 against the greenback by fresh surges in Treasury yields and stocks after yesterday's ECB policy statement and the U.S. claims data.

 

AUD/USD
The Aussie, often seen as a risk proxy in the currency market, capped below $0.6987 on reports that US President Donald Trump rekindled tension with Beijing after issuing the memo for recommendations to protect US investors from China’s failure to allow audits of US-listed Chinese companies.


USD/ZAR
The rand firmed at 17.85 against the dollar, reflecting broad optimism in financial markets as easing social distancing restrictions supported economic recovery hopes.


USD/MUR
The USD/MUR stayed put at 40.15(selling) on the domestic market.

Fundamental & Technical Data
Economic Indicators-Local Time

16:30 - USD - Nonfarm Payrolls (May)

16:30 - USD - Unemployment Rate (May)

18:00 - CAD - Ivey PMI (May)

 

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
1.1569
1.2786
109.93
17.98
R2
1.1466
1.2710
109.57
17.66
R1
1.1402
1.2653
109.36
17.29
PP
1.1298
1.2577
108.99
16.80
S1
1.1235
1.2521
108.79
16.58
S2
1.1131
1.2445
108.41
15.92
S3
1.1067
1.2388
108.20
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 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.