Market Patrol 16 September 2020

The ceilings we place on ourselves must be lifted by us, as much as by the law.

Lule Demmissie

Indicative Selling Rates
against MUR
USD

20 Dec 2024

AUD
30.10
0.6322

BWP
3.54
0.0745

CAD
33.29
1.4301

CNY
6.72
7.0815

DKK
6.71
7.0904

EUR
49.58
1.0414

HKD
6.22
7.6568

INR
0.57
83.7507

JPY
31.08
153.1735

KES
37.41
127.2757

NZD
27.03
0.5677

NOK
4.24
11.2216

SGD
35.54
1.3396

ZAR
2.68
17.7715

SEK
4.37
10.8960

CHF
53.34
1.1203

GBP
59.72
1.2543

USD
47.61
1.0000

AED
13.26
3.5895

U.S dollar energized overnight ahead of FOMC statement

Fundamental News

EUR/USD

The single currency plummeted to $1.1827 as tension is mounting ahead of the last Federal Reserve rate decision before the elections and U.S. retail sales.

GBP/USD
Sterling rose to $1.2915, on better-than-expected U.K. jobs data on Tuesday and Prime Minister Johnson faced opposition within his party to proposed legislation that would breach the Brexit treaty.

USD/JPY
The safe-haven yen soared to 105.22 per dollar as the Lower House of Japan’s parliament formally elected Yoshihide Suga as the country’s new Prime Minister.

AUD/USD
The Aussie pierced $0.7322 this morning on upbeat trade sentiment ahead of FOMC meeting at 1800 GMT.

USD/ZAR
The South African rand surged to 16.38 against the greenback buoyed by vaccine hopes creeping back into local markets.

USD/MUR
The pair remain stagnant at 40.20(selling) on the domestic market.

Fundamental & Technical Data

Economic Indicators-Local Time

10:00 - GBP - CPI (YoY)(Aug)

16:30 - USD - Core Retails Sales (MoM)(Aug)

16:30 - CAD - Core CPI (MoM)(Aug)

18:30 - USD - Crude Oil Inventories

22:00 - USD - Fed Interest Rate Decision

22:00 - USD - FOMC Statement

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

1.1946

1.3051

106.25

17.13

1.1924

1.2989

106.03

16.92

1.1885

1.2939

105.74

16.65

1.1862

1.2877

105.52

16.38

1.1824

1.2827

105.22

16.33

1.1801

1.2765

105.01

16.28

1.1763

1.2716

104.71

15.92

Previous View Market Patrol Archives Next

Weekly Market Update by Reshma Peerun Rajwani

Listen

Speak to our team

Allan Juste

Head - Forex And Derivatives

+230 5251 4855

Email
Reshma Peerun Rajwani

Head – Treasury Sales

+230 403 5500

Email

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.

Treasury

Daily Market Patrol