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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.
IDR
Spot USD/IDR deals +46 figs at IDR15,234 in the wake of overnight greenback rally. From a technical standpoint, bulls look for a break above Oct 4 high of IDR15,309 before targeting the 61.8% retracement of the 2020 sell-off at IDR15,574. Bears need a dip through Sep 30 low of IDR15,150 before taking aim at the 100-DMA, which crosses at IDR14,874.
- USD/IDR 1-month NDF last -2 figs at IDR15,250. Bears look for losses past Oct 5 low of IDR15,158, followed by the 100-DMA at IDR14,894. Bulls keep an eye on Oct 3 high of IDR15,394.
- Foreign investors bought a net $266.8mn in Indonesian stocks Thursday, the largest daily inflow since May 31. The Jakarta Comp was little changed at the close, but dropped as local markets re-opened today and last sits ~0.2% lower.
- Palm oil futures hold firm after advancing for the sixth straight day on Thursday, as the tropical oil's discounts to soyoil and gasoil approached record highs. The aggregate BBG Commodity Index is slightly softer.
- Indonesia's 5-Year CDS premium is creeping higher again and last sits at 153.3bp, moving towards cyclical highs of 166.0/166.9bp.
- Indonesian consumer confidence gauges are expected to hit the wires in the coming days.
Fig. 1: Indonesia Jakarta Stock Exchange Net Foreign Stocks Investment ($mn)
Source: MNI - Market News/Bloomberg
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.
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