Halister News

(Bloomberg) -- Rupiah rising for fifth day; March car sales increase 6.5% m/m, fall 5.4% y/y, Investor Daily Indonesia reports.

• Bank Indonesia new rate policy likely effective Aug.: BNI
• BI seen on hold, remaining “accommodative” at its meeting next week, Goldman Sachs writes in April 12 note
  • Goldman’s probability model points to less than 40% chance of policy rate cut in April
  • In last monetary policy statement, BI said short-term focus would be on improving monetary policy transmission; Governor Martowardojo has also hinted that any changes would be made very cautiously
• Five-year credit-protection costs for Indonesia dropped for third day yesterday, by 5 bps to 200 bps, according to CMA data
• USD/IDR down 0.1% at 13,096
  • 1st resistance: 13,237, April 6 high; 2nd resistance: 13,245, March 31 low; 3rd resistance: 13,316, 50-DMA
  • 1st support: 13,033, March 18 low; 2nd support: 13,010, March 14 low; 3rd support: 12,978, March 7 low
• Global funds were net buyers of 467b rupiah ($36m) in Indonesian bonds on April 8, according to finance ministry data; net buyers of $19m in local equities yesterday: exchange data
• 10-year govt bond yields steady at 7.493%