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CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1268 FRI VS 7.1270

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

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USD/IDR Lower On Broader Greenback Sales

DOLLAR-IDR

USD/IDR re-opened on a softer footing, in line with dynamics seen in
USD/Asia crosses, owing to broad-based USD weakness. Spot USD/IDR last
trades -43 pips at IDR14,568.

  • Locally, President Joko Widodo asked ministers to expedite Covid-19
    fiscal spending, as he pointed to low absorption. Widodo noted that only
    IDR136tn of the IDR695tn package has been spent so far.
  • Elsewhere, FinMin Indrawati said that state-owned Sarana Multi Infrastruktur
    provided zero-rate loans for economic recovery to Jakarta and West Java.
  • Econ Min Hartarto said that the gov't expects domestic economy to start
    its recovery in H2 and sees GDP contracting 4.3% in Q2.
  • Bears need a dip through Jul 9 & 14 lows, both at IDR14,355. They
    closely watch the 50- & 200-DMAs, intersecting at IDR14,400, looking
    for a potential death cross. Bulls target Jul 22 high of IDR14,670.
  • Indonesia's economic docket is virtually empty this week.
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