BOC: IF THINGS EVOLVE AS EXPECTED, WILL BE APPROPRIATE TO CUT

BOC SAYS JUNE RATE CUT IS WITHIN REALM OF POSSIBILITIES

MNI BRIEF: Text Of BOC Press Conference Opening Statement

MNI BRIEF: Brazil Inflation 3.93% In March, Lowest In 9 Months

MNI Brief: China Targets Standards Update To Support Trade-ins

MNI BRIEF: Fitch China Outlook Downgrade Regrettable - MoF

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: 3/7/15+ Year BTP Auction Thursday

Key PCE Components Raise Stakes For Tomorrow's PPI

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Comments On Palm Oil Exports Eyed In Indonesia

IDR

Spot USD/IDR dropped as onshore markets re-opened, shedding 17 figs so far to last change hands at IDR15,001. Bulls look for a rally above Jul 22 high of IDR15,038 before taking aim at May 5, 2020 high of IDR15,138. Bears look for losses past Jul 18 low of IDR14,955.

  • USD/IDR 1-month NDF last +9 figs at IDR15,028. A break above Jul 21 high of IDR15,133 would turn focus to Jul 15 high of IDR15,190. Bears would be pleased by a dip through Jul 8 low of 14,966.
  • MYR/IDR trades at IDR3,369, down ~3 figs on the day. Bearish focus falls on Jul 19/Jun 27 lows of IDR3,359/3,358 and a break here would expose May 20 high of IDR3,349. Bulls need a move through the IDR3,400 mark to reinstate topside momentum.
  • SGD/IDR last +11 figs at IDR10,807, with bulls keeping an eye on Jun 30, 2021/May 26, 2021 highs of IDR10,821/10,830. Bears look for a sell-off towards the 50-DMA/Jul 12 low at IDR10,656/10,636.
  • Analysts are questioning the sustainability of Indonesia's record trade surplus in the first half of the year, with palm oil prices expected to extend their rout.
  • Trade Minister Hasan will speak on crude palm oil exports today alongside acting Chairman of Indonesia Palm Oil Board Sinaga and Chairman of Palm Oil Farmers Association Manurung.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.