Market Patrol 6 October 2020

The market is a device for transferring money from the impatient to the patient.

Warren Buffett

Indicative Selling Rates
against MUR
USD

19 Apr 2024

AUD
30.42
0.6459

BWP
3.47
0.0737

CAD
34.46
1.3664

CNY
6.60
7.1402

DKK
6.82
6.9093

EUR
50.34
1.0691

HKD
6.10
7.7148

INR
0.57
82.1874

JPY
30.85
152.6385

KES
35.97
130.9049

NZD
27.96
0.5937

NOK
4.35
10.8251

SGD
34.91
1.3490

ZAR
2.53
18.6446

SEK
4.35
10.8361

CHF
52.18
1.1081

GBP
58.79
1.2484

USD
47.09
1.0000

AED
13.02
3.6162

The Aussie dollar dropped to $0.7170 after Reserve Bank of Australia hinted at further policy easing

Fundamental News

EUR/USD
The Shared currency extended gains to $1.1788 on rising optimism that U.S. lawmakers could agree on a new stimulus to blunt the economic impact of the coronavirus.

GBP/USD
The Cable mounted to $1.2986 on rising expectations the EU and UK will agree on a trade deal, with Goldman Sachs forecasting both parties likely to reach an accord by early November.

USD/JPY
The Japanese yen faded to 105.65 versus the U.S dollar despite statements from China that the U.S. ban on certain applications defy the World Trade Organization rules.

AUD/USD
The Aussie dollar ticked down to $0.7170 after Australia’s central bank kept monetary policy unchanged and hinted at further policy easing.

USD/ZAR
South Africa's rand firmed at 16.53 against the greenback as global risk appetite increased on signs U.S. President Donald Trump's health has improved.

USD/MUR
The USD/MUR stayed put at 40.35(selling) on the domestic market.

Fundamental & Technical Data

Economic Indicators-Local Time

12:30 - GBP - Construction PMI (Sep)

12:35 - EUR - ECB President Lagarde Speaks

16:00 - USD - EIA Short-Term Energy Outlook

17:00 - EUR - ECB President Lagarde Speaks

18:00 - USD - JOLTs Job Openings (Aug)

18:40 - USD - Fed Chair Powell Speaks

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

Bank of Japan

-0.10%

28-Jan-2016

Reserve Bank of Australia

0.25%

18-Mar-2020

S.Africa Reserve Bank

3.50%

23-Jul-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

1.1827

1.3132

106.03

17.36

1.1798

1.3056

105.88

17.21

1.1774

1.2973

105.70

17.08

1.1746

1.2896

105.55

17.97

1.1722

1.2814

105.38

16.77

1.1693

1.2737

105.23

16.50

1.1669

1.2655

105.06

16.06

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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.

Treasury

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