MNI BRIEF: Canadians Fuzzy On How BOC Hikes Slow CPI, Government's Role

CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: BCB Evaluating Real Depreciation Impacts - Galipolo

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

MNI: BAKER HUGHES US RIG COUNT 581; OIL RIGS 479; GAS RIGS 97

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: BoE APF on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USD/IDR Back Close To YTD Highs, Local Equities Sub 200-day MA

IDR
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

USD/IDR is up a further 0.5%, last tracking near 16245/50, which is on session highs. We are close to late April levels above 16280, while the YTD high was at 16288. Hence, we wouldn't be surprised to see some step up in official rhetoric or actual intervention if we breach these previous highs.

  • The 20-day EMA sits back near 16071 on the downside, while the pair has spent little time sub the 16000 level since the first part of April.
  • Cross asset headwinds continue to be evident for the rupiah. Local equity market weakness has been particularly prevalent in recent sessions. The JCI has broken sub its simple 200-day MA, off a further 1.5% today. Earlier we hit fresh lows in the index back to late November last year, although we are up from these levels in recent dealings.
  • Offshore investors have sold -$808.3mn of local shares this month, the most in the EM Asia region. The renewed push high in US yields is likely to be weighing on sentiment. The real 10yr US yield is back close to late April highs.
  • The data calendar remains empty until the start of next week when the PMI and CPI prints are due.
201 words

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.

USD/IDR is up a further 0.5%, last tracking near 16245/50, which is on session highs. We are close to late April levels above 16280, while the YTD high was at 16288. Hence, we wouldn't be surprised to see some step up in official rhetoric or actual intervention if we breach these previous highs.

  • The 20-day EMA sits back near 16071 on the downside, while the pair has spent little time sub the 16000 level since the first part of April.
  • Cross asset headwinds continue to be evident for the rupiah. Local equity market weakness has been particularly prevalent in recent sessions. The JCI has broken sub its simple 200-day MA, off a further 1.5% today. Earlier we hit fresh lows in the index back to late November last year, although we are up from these levels in recent dealings.
  • Offshore investors have sold -$808.3mn of local shares this month, the most in the EM Asia region. The renewed push high in US yields is likely to be weighing on sentiment. The real 10yr US yield is back close to late April highs.
  • The data calendar remains empty until the start of next week when the PMI and CPI prints are due.