Daily Forex Report

MUFG Bank, Jakarta Branch FOREX DAILY REPORT Friday, April 3, 2020

Major Currencies

The US Dollar continued to strengthen overnight and was supported in a quiet Asian trading day. Weekly initial jobless claims rose sharply to 6.6 million, breaking the 3.3 million high last week. As such in the last two weeks, Americans have filed almost 10 million jobless claims. US stock indexes rose driven by the energy sector on expectations that Saudi Arabia and Russia will cut oil output. The stock rally boosted the USD strength against the JPY and USD/JPY is supported above 108.

Asia traded in a tight range as usually seen on a NFP data day. The consensus expects 100,000 non-farm (NF) jobs lost in March and the unemployment rate to increase to 3.8%. The Singapore Dollar weakened by 3 PM JKT to the 1.4340 level as the government announced that most workplaces and schools shall be closed from next week.

USD/IDR 

USD/IDR traded in a tight range of 16,450 – 16,600. Coordinating Minister of Economic Affairs Airlangga Hartanto said that Indonesia’s government debt is still only around 30% of GDP well below the ceiling of 60% and Indonesia has plenty of room to widen the budget deficit and the government “will take any steps to protect people’s lives”.

The number of coronavirus cases in Indonesia has reached 1,986 with 134 deaths.

 

 

Closing market on 3 Apr 2020                                          Jakarta market on 3 Apr at 03.10 pm

Nikkei                     : 17,820.19 (unchanged)                    USD/JPY   : 108.13 / 108.14                             

ID 10Y yield           : 8.01                                                   EUR/USD : 1.0803/ 1.0804

JCI                         : 4,623.43   (+2.02%)                          USD/IDR   : 16,525

 

Closing market on 2 Apr 2020                                   

DJI                           : 21,413.44   (+2.24%)  

US 10Y yield            : 0.597        

 

 

TREASURY ADVISORY
Alia Fatmawati, Amanda Kinantya, Amelia Damayanti, Arfilia Amanda,
Argo Aji Nugroho, Caroline Pandea, Dicky A Abdurrahman, Dimas Satya M., Elvinawaty, Evi Nurul Arafah, Kristian Yusak Djumali, Mirawati Pranoto, Muhammad Fajrin, Natasya Ihza, Palmella Putri, Ririn Virgiyanthi,  Ronal Murni, Rudy Sugiharto, Topik Hidayat, Victoria Wikan, 
The above information is elaborated from reliable sources and presented without any responsibility of MUFG Bank, Ltd-Jakarta branch

 

 

 

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