Market Patrol 9 July 2020

The hard part is discipline, patience and judgement.

Seth Klarman

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

Sterling clung to 3-week highs on UK fiscal stimulus of 30 billion pounds

Fundamental News

EUR/USD

The Single currency rocketed to $1.1363 as a rally in riskier assets such as global equities and commodities put a dent in safe-haven demand for the U.S. currency.

GBP/USD

The Sterling surged to a three-week high of $1.2630 as UK fiscal stimulus of 30 billion pounds to stem an unemployment crisis shrugged off pessimistic comments about EU-UK trade talks from German Chancellor Angela Merkel.

USD/JPY

The Japanese Yen gained to 107.30/dlr on U.S dollar setback across the board.

AUD/USD

The Aussie dollar crept higher to $0.6987, buoyed by a softer USD, and backed up by a pool of positive economic data from China in today's Asian session.

USD/ZAR

The South African rand edged higher to 16.92 against the U.S dollar, although a resurgence of new coronavirus cases globally and fresh evidence of the weakness of the local economy kept sentiment cautious.

USD/MUR
The USD/MUR unchanged at 40.20(selling) on the domestic market following the intervention of the central bank.

Fundamental & Technical Data

Economic Indicators-Local Time

16:30 - USD - Inital Jobless Claims

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

1.1459

1.2730

108.08

18.05

1.1402

1.2696

107.90

17.68

1.1356

1.2655

107.57

17.43

1.1315

1.2582

107.39

17.00

1.1279

1.2541

107.06

16.73

1.1226

1.2468

106.8

16.58

1.1190

1.2427

106.55

16.46

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Allan Juste

Head - Forex And Derivatives

+230 5251 4855

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Head – Treasury Sales

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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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