Market Patrol 8 December 2020

I'm still learning, and over time I've learnt that I knew nothing when I was champ.

Mike Tyson

Indicative Selling Rates
against MUR
USD

14 Jan 2025

AUD
29.84
0.6283

BWP
3.42
0.0721

CAD
33.31
1.4257

CNY
6.68
7.1110

DKK
6.63
7.1676

EUR
48.93
1.0303

HKD
6.19
7.6706

INR
0.56
85.1823

JPY
30.95
153.4197

KES
37.24
127.5148

NZD
26.88
0.5661

NOK
4.25
11.1714

SGD
35.23
1.3479

ZAR
2.60
18.2991

SEK
4.29
11.0790

CHF
52.19
1.0990

GBP
58.28
1.2272

USD
47.49
1.0000

AED
13.23
3.5894

Sterling surged to $1.3340 amid Brexit hopes.

Fundamental News

EUR/USD
The single currency seesawed at $1.2120 amid market is waiting for fresh clues from Thursday's European Union summit. According to Reuters, a senior EU diplomat has said that the EU would bypass Hungary and Poland to set up the budget and recovery fund if the two nations do not drop their veto by Thursday.

GBP/USD
Sterling surged to $1.3340 on Tuesday, clinging to hopes of a meeting between British Prime Minister Boris Johnston and European Commission President Ursula von der Leyen salvaging a Brexit trade deal.

USD/JPY
The Japanese Yen sidelined at 104.04 against the U.S dollar, although concern at surging coronavirus cases in the United States tempered optimism about vaccinations and fiscal support for the U.S. economy.

AUD/USD
The Australian dollar edged lower to $0.7032 following Aussie-China tussle are back in focus to combat vaccine.

USD/ZAR
The South African rand mounted to 15.16 against the greenback with investors luring back into risk assets by progress in COVID-19 vaccines and hopes of further stimulus in the United States.

USD/MUR

The Mauritian rupee lingered at 40.30(selling) against the dollar on the domestic market.

Fundamental & Technical Data

Economic Indicators-Local Time

14:00 - EUR - German ZEW Economic Sentiment (Dec)

16:00 - USD - EIA Short-Term Energy Outlook

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

16-Dec-2020

European Central Bank

0.00%

10-Mar-2016

10-Dec-2020

Bank of England

0.10%

19-May-2020

17-Dec-2020

Bank of Japan

-0.10%

28-Jan-2016

18-Dec-2020

Reserve Bank of Australia

0.10%

03-Nov-2020

01-Dec-2020

S.Africa Reserve Bank

3.50%

23-Jul-2020

Reserve Bank of India

4.00%

22-May-2020

04-Dec-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

1.2245

1.3690

104.67

15.50

1.2206

1.3567

104.49

15.35

1.2157

1.3472

104.28

15.26

1.2118

1.3348

104.10

15.22

1.2069

1.3254

103.89

15.12

1.2030

1.3130

103.71

15.07

1.1982

1.3036

103.50

14.97

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Allan Juste

Head - Forex And Derivatives

+230 5251 4855

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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.

Treasury

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