MNI BRIEF: Bank Of Italy Downgrades 2024 Inflation Forecast

CANADA MAR JOBLESS RATE 6.1% VS FORECAST 5.9%, PRIOR 5.8%

MNI: Canada Wages Up 5% Even With Highest Jobless Rate In 2Yrs

MNI BRIEF: Monetary, Fiscal Policy Need Harmony - Campos Neto

CORRECTED-MNI: Changing Brazil Fiscal Target Not "Plan A"

MNI BRIEF: PBOC To Curb Any Overshooting Of The Yuan-MPC

MNI: US FEB CONSUMER CREDIT +$14.1B

MNI: BAKER HUGHES US RIG COUNT 620; OIL RIGS 508; GAS RIGS 110

EZ/UK Bond Supply Calendar: EU-Bond Auction, BoE Short APF Mon

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

USD/IDR Continues To Recover

IDR

USD/IDR has continued to climb today. The pair is up a further 0.50% in spot terms to 14841, while the 50-day MA comes in at 14878. Risk aversion creeping back into regional equities is not helping, even if Indonesian stocks are flat on the day.

  • Indonesia 5yr CDS has also nudged up, back to 109, +6bps for the session. The continued drift higher in US real yields, now back to +43bps will be weighing on Indonesian sentiment at the margin.
  • The BI Governor also came across the wires with dovish comments, stating the central bank is no rush to raise rates, and that rates don't need to be raised with the removal of energy subsidies. Note the next decision from the BI is on Tuesday the 23rd of August.
  • Palm oil prices are also drifting lower, down a further 2% today.
  • These moves are unwinding some of the positive sentiment in terms of offshore investors returning to the local bond. This investor base participated strongly in the Tuesday bond auction.
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.