MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Higher At 7.1046 Fri; -5.03% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1046 FRI VS 7.1020

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Appreciation

IDR

Overnight greenback sales resulted in a lower reopen for USD/IDR, which last changes hands -18 figs at IDR14,225. Bears need a breach of Sep 7 low of IDR14,182 to gain some fresh momentum, while bulls look to a rebound above the 200-DMA at IDR14,287.

  • USD/IDR 1-month NDF last seen -11 figs at IDR14,261. Bears look for a fall through Sep 7/Jun 11 lows of IDR14,201/14,198, while bulls would be pleased by an upswing above Sep 8/9 highs, both located at IDR14,340.
  • Indonesia's exports surged to a record high in August, underpinning a considerably faster than expected expansion in trade surplus, which also reached all-time highs. The rapid increase in shipments may help soften the blow from lower private consumption, dented by mobility restrictions implemented to contain the outbreak of Covid-19.
  • Bank Indonesia will deliver their monetary policy decision next week but virtually all analysts expect policymakers to continue sitting on their hands.
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