Market Patrol 8 September 2020

A man must know himself thoroughly if he is going to make a good job out of trading.

Jesse Livermore

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 nosedived to a 2-week low of $1.3128 on Brexit woes

Fundamental News

EUR/USD
The single currency recovered from a low of $1.1796 to $1.1820 this morning, despite the mixed German Trade and Current Account data, amid dovish European Central Bank expectations this week.

GBP/USD
The Sterling nosedived to $1.3128 as Brexit impasse revived after the European Union warned the U.K of a no-trade deal if it tried to tinker with the divorce treaty.

USD/JPY
The Japanese Yen weakened to 106.22 per dollar as Japan's economy shrank an annualised 28.1% in April-June, worse than the initial estimate of a 27.8% contraction.

AUD/USD
The Aussie surged to $0.7305, shrugging-off mixed Australian NAB survey and U.S.- China tussle.

USD/ZAR
The rand plunged to 16.69 against the greenback as Gross Domestic Product data is wildly expected to show a massive contraction during the country's strict coronavirus lockdown.

USD/MUR
The pair lingered at 40.20(selling) on the Mauritian market.

Fundamental & Technical Data

Economic Indicators-Local Time

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

14-Sep-2020

European Central Bank

0.00%

10-Mar-2016

10-Sep-2020

Bank of England

0.10%

19-May-2020

17-Sep-2020

Bank of Japan

-0.10%

28-Jan-2016

17-Sep-2020

Reserve Bank of Australia

0.25%

18-Mar-2020

01-Sep-2020

S.Africa Reserve Bank

3.50%

23-Jul-2020

17-Sep-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

1.1877

1.3388

106.64

17.78

1.1863

1.3334

106.51

17.23

1.1840

1.3249

106.39

17.11

1.1826

1.3195

106.26

16.89

1.1803

1.3110

106.14

16.65

1.1789

1.3056.

106.01

16.51

1.1766

1.2971

105.89

16.35

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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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