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Treasury

Daily Market Patrol

Market Patrol 8 July 2020

Don't limit your challenges. Challenge your limits

Jerry Dunn
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
Dollar bides time as coronavirus spread revives global growth anxiety
Fundamental News

EUR/USD

The Single currency lost ground to $1.1280 as a resurgence of the coronavirus in the United States and the return of lockdowns in some countries boosted safe-haven demand for the U.S. currency.

 

GBP/USD

The Sterling rose to three-week highs at $1.2555, strengthening on optimism that British and EU trade negotiators could find common ground at a dinner planned yesterday.

 

USD/JPY

The Japanese Yen keeps trading in a tight range around 107.50/dlr, following mixed economic data from Japan.

 

AUD/USD

The Aussie dollar slipped to $0.6941 after the country’s second-largest city Melbourne re-imposed lockdown measures to curb the outbreak.

 

USD/ZAR

The South African rand weakened to 17.14 against the greenback as worries over surges in coronavirus infections reactivated investor concerns about the economic impact of the pandemic.

 

USD/MUR
The USD/MUR climbed by 5cents to 40.25(selling) on the domestic market.

Fundamental & Technical Data
Economic Indicators-Local Time

18:30 - USD - Crude Oil Inventories

 

 

 

 

Central Bank Interest Rates
Last Change
New Meeting
Federal Bank of U.S
0.00-0.25%
16-Mar-2020
29-Jul-2020
European Central Bank
0.00%
10-Mar-2016
16-Jul-2020
Bank of England
0.10%
19-May-2020
06-Aug-2020
Bank of Japan
-0.10%
28-Jan-2016
22-Jul-2020
Reserve Bank of Australia
0.25%
18-Mar-2020
04-Aug-2020
S.Africa Reserve Bank
4.25%
21-May-2020
-
Reserve Bank of India
4.00%
22-May-2020
06-Aug-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
1.1459
1.2730
108.34
18.05
R2
1.1402
1.2661
108.07
17.68
R1
1.1356
1.2601
107.80
17.43
PP
1.1299
1.2532
107.53
17.00
S1
1.1253
1.2472
107.26
16.73
S2
1.1196
1.2403
106.99
16.58
S3
1.1150
1.2343
106.72
16.46
Technical Analysis - Forex Charts
It may be time to get rid of your Swiss Franc!
Chart updated on 25.06.2020

From an Elliott Wave trading standpoint, USD/CHF indicates a violent recoil higher in compelling impulse Wave (3) trajectory on a test of support marked by the confluence of a former counter-trend support at Wave (2) at 0.9372 of June 11th, percolating since late March 2020. As we have continued to highlight, the trend USD/CHF remains bullish overall.

 

Looking at the hourly chart, the pair may propel into Wave (3) targeting 1.0084, which represents 100% Fibonacci projection of impulsive Wave (1) through corrective Wave (2). Peeking through 0.9553 of Wave (1) would further validate the upside momentum. On the flipside, a set-back of recent low at 0.9418, then 0.9372 would render the count obsolete. If the pair fails to clear the latter, it could catalyse an aggressive decline.

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.