Market Patrol 9 November 2020

Faces change with life's toll, but eyes remain a window to what was.

Delia Owens

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

U.S dollar in shambles as President-elect Biden takes over the White house.

Fundamental News

EUR/USD
The single currency jostled to $1.1895 as investors heralded Joe Biden's election as U.S. president by buying trade-exposed currencies on expectations that a calmer White House could boost world commerce and that monetary policy will remain easy.

GBP/USD
The cable pierced to $1.3185, on broad dollar weakness as market awaits Bank of England Governor Bailey and chief economist Haldane speeches at 1035 GMT and 1400 GMT, where talk of negative rates is in focus.

USD/JPY
The safe-haven yen vaulted to 103.18 per dollar as Prime Minister Suga expressed his interest on Monday to strengthen Japan-US alliance in the Indo-Pacific region with the newly-elected U.S President.

AUD/USD
The Aussie surged to $0.7297 on improved risk appetite coupled with strong Chinese trade data over the weekend.

USD/ZAR
The South African rand soared to 15.53 against the greenback as investors foresee the split U.S. Congress under Democrat candidate Biden's leadership paving the way for additional Federal Reserve stimulus and easing of U.S.- China tensions.

USD/MUR
The dollar-rupee stayed put at 40.35(selling) on the local market.

Fundamental & Technical Data

Economic Indicators-Local Time

13:25 - EUR - ECB President Lagarde Speaks

14:35 - GBP - BoE Gov Bailey 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

Bank of England

0.10%

19-May-2020

05-Nov-2020

Bank of Japan

-0.10%

28-Jan-2016

Reserve Bank of Australia

0.10%

03-Nov-2020

S.Africa Reserve Bank

3.50%

23-Jul-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

1.2010

1.3274

104.23

17.27

1.1951

1.3225

103.99

17.03

1.1915

1.3189

103.65

16.80

1.1855

1.3141

103.41

16.04

1.1819

1.3105

103.07

15.6473

1.1760

1.3056

102.83

15.0878

1.1724

1.3020

102.49

13.9284

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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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