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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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Free AccessMNI EUROPEAN MARKETS ANALYSIS: China Equities Lower Post CEWC
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USD/IDR Just Off Recent Highs, Bonds Inflows Tracking Firmer In November
USD/IDR sits unchanged, last tracking at 15700. We have had a 10IDR range so far today, as markets await key US data later, when the CPI prints. Recent USD/IDR highs rest just above 15720, which is also near the 20-day EMA. On the downside, the 50-day sits back near 15614.5.
- A recovery in bond inflows stalled towards the end of last week, but November has still seen $582.7mn of net inflows month to date. This follows a number of months of firm outflow pressure.
- Near term sentiment will be dictated by the US inflation print, with US real yields not far off recent cyclical highs.
- Still, BI sounded a little less dovish late yesterday, by nudging up their 2024 CPI projection to 3.2% from a 2.8% forecast made back in September. The central bank expects USD/IDR to be around 15510 in 2024 (see this BBG link).
- On the data front, tomorrow October trade figures print.
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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.