Market Patrol 23 September 2020

Presence is one of the ways in which we get so much closer to power.

Arisha Michelle Hatch

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's haven demand fuelled across the board after Fed Chair Powell sent dovish signals

Fundamental News

EUR/USD
The single currency hammered to $1.1680 as investors grow increasingly worried about surging coronavirus infections in France and Spain, raising the risk of fresh lockdowns in Europe.

GBP/USD
The cable nosedived to $1.2685 after British Prime Minister Johnson unveiled on Tuesday new stricter restrictions on business activity to tackle a second wave of the coronavirus.

USD/JPY
The Japanese Yen plunged to 105.19 per dollar undermined by Fed Chairman Jerome Powell speech that the U.S. economy will suffer without stimulus, urging spending.

AUD/USD
The Aussie hit a six-week low at $0.7115 following a speech by Reserve Bank of Australia Deputy Governor Debelle on Tuesday where he signalled the likelihood of more monetary easing.

USD/ZAR
The rand tumbled to 16.88 against the greenback powered by data showing U.S. home sales surged to their highest level in nearly 14 years in August.

USD/MUR
The dollar-rupee bolstered by 10 cents to 40.35(selling), tracking demand for the greenback across the board.

Fundamental & Technical Data

Economic Indicators-Local Time

11:30 - EUR - German Manufacturing PMI (Sep)

12:30 - GBP - Composite PMI, Manufacturing PMI, Services PMI

15:50 - JPY - BoJ Monetary Policy Statement

18:00 - USD - Fed Chair Powell Testifies

18:30 - USD - Crude Oil Inventories

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

29-Oct-2020

Bank of England

0.10%

19-May-2020

Bank of Japan

-0.10%

28-Jan-2016

Reserve Bank of Australia

0.25%

18-Mar-2020

S.Africa Reserve Bank

3.50%

23-Jul-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

1.1839

1.2987

105.88

17.30

1.1807

1.2927

105.48

17.08

1.1757

1.2830

105.20

16.96

1.1725

1.2770

104.80

16.82

1.1675

1.2674

104.53

16.62

1.1642

1.2614

104.13

16.52

1.1593

1.2517

103.86

16.42

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Allan Juste

Head - Forex And Derivatives

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Reshma Peerun Rajwani

Head – Treasury Sales

+230 403 5500

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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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