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Daily Market Patrol

Market Patrol 8 June 2020

Don't worry about what the markets are going to do, worry about what you are going to do in response to the markets.

Michael Carr
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 U.S. dollar traded near its highest in more than two months against the yen, supported by recent gains in long-term Treasury yields as investors await the outcome of a two-day U.S. Federal Reserve meeting ending on Wednesday.
Fundamental News

EUR/USD

The Shared Currency dropped to $1.1283 as the greenback recovered some grounds on Monday after a surprising recovery in U.S employment in May, with 2.5 million gains in non-farm payrolls. The jobless rate fell to 13.3% from 14.7% in April, offering hope that the world’s largest economy is starting to stabilize after the pandemic triggered a wave of job cuts.

 

GBP/USD

The pound rose above $1.27 and was set for its biggest weekly gain against the dollar since the end of March, even though European Union and British negotiators said there had been little progress in Brexit trade talks.

 

USD/JPY

The Japanese Yen traded at lowest in more than two months at 109.43 against the U.S dollar, pressured by recent gains in long-term Treasury yields as investors await the outcome of a two-day U.S. Federal Reserve meeting ending on Wednesday.

 

AUD/USD

The Aussie edged lower to $0.6970 after Australia said on Monday China remained unresponsive to its plead to ease tensions between the two trading partners that escalated after Canberra called for an international inquiry into the origins of the novel coronavirus.

 

USD/ZAR

South Africa's rand raced to an 11-week high to 16.78 against the U.S. dollar, supported by a risk rally as an unexpected fall in the U.S. unemployment rate brought back hopes of a swift economic recovery.

 

USD/MUR

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

Fundamental & Technical Data
Economic Indicators-Local Time

13:30 - ZAR - Business Confidence

17:45 - EUR - ECB President Lagarde Speaks

 

 

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
1.2992
111.75
17.98
R2
1.1466
1.28
110.95
17.66
R1
1.1402
1.2730
109.87
17.29
PP
1.1298
1.2690
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.