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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
USD/IDR is testing above its simple 200-day MA (~15220). The pair last at 15235/40, +0.33% higher in early trade. This is fresh highs in the pair back to late March. Levels on March 21 were around 15340, before we gapped lower to 15000 on the 24th, see the chart below.
- BI stated it will remain in the FX market to ensure stable supply/demand conditions. So, this will be a watch point for markets in the near term. IDR is down 1% against the USD month to date, around mid-point from a USD/Asia perspective.
- On the data front today we have July consumer confidence. The prior reading was 127.1. Yesterday's Q2 GDP was slightly better than expected, but didn't drive better IDR sentiment.
- Local equities are tracking higher, the JCI back above 6900. Yesterday saw +$53.2mn in local equity inflows from foreign investors.
Fig 1: USD/IDR Spot & MAs
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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