FED'S DALY SAYS THERE'S NO URGENCY TO CUT RATES

MNI China Daily Summary: Tuesday, April 2

MNI BRIEF: China to Incentivise Equipment Upgrades, Trade-Ins

MNI: PBOC Drains Net CNY148 Bln Via OMO Tues; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0957 Tues; -4.95% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

Seasonally Adjusted CPI Series: Flat Core Goods, Higher Services

EZ/UK Bond Supply Calendar: Belgian 30Y USD and Bund Auction Weds

MNI: US BLS: JOLTS QUITS RATE 2.2% IN FEB

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

Rupiah Outperforms Broader USD Strength

IDR

IDR is bucking the broader USD/Asia trend. USD/IDR spot is off 0.50% and back to 14500, with the 1 month NDF off by a similar amount.

  • This result is all the more impressive given onshore spot was closed yesterday and the USD has generally been trending higher over this period.
  • A trade minister official stated the government has issued export permits for nearly 180,000 tonnes of palm oil as of today. This covers 160 export permits for 18 companies.
  • This comes after the ban on palm oil shipments was lifted last week. The ban was in place for 3 weeks from the 28th of April, in order to bring down price pressures.
  • It was also reported that tourist arrivals jumped nearly 500% YoY for April.
  • Inflation data for May was a little weaker than expected, headline YoY at 3.55%, versus 3.59% expected. Core YoY rose to 2.58%, versus 2.70% expected. Both measures showed accelerating momentum compared to April.
  • Reuters also cited exporters selling USDs and offshore inflows into local bonds as supports. Offshore holdings of local bonds troughed back on May 19th and have edged up since then.
BulletEM BulletEmerging Market NewsHomepagemarkets-real-time

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.