INDONESIA CENTRAL BANK: BI Unchanged, As Expected
Jun-18 07:30
Bank Indonesia unchanged at 5.5%, as expected
- Sees Rupiah remaining stable on policies and economic outlook
- Bank will strengthen stabilization measures ahead
- Domestic economy needs to be further supported
- Sees inflation at 1.5 - 3.5% this year and the next
- Bank lending rates need to continue declining to boost loan growth
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US TSY OPTIONS: TYM5 112.50 Calls Lifted
May-19 07:23
TYM5 112.50 calls paper paid 0-01 on 5.2K.
EGB OPTIONS: RXN5 132.00/133.50 Call Spread Lifted
May-19 07:20
RXN5 132.00/133.50 call spread paper paid 20 on 3K.
FOREX: USD Sales Helps Edge EUR/USD, GBP/USD to New Highs
May-19 07:19
Another phase of dollar sales through the European cash equity open helps boost both EUR/USD and GBP/USD through the overnight highs (GBP/USD topping the Friday high, while EUR/USD lags slightly)
- The Moody's US downgrade remains the primary driver here, which spills over into Treasury yields and equities through the European cash open.
- JPY not benefiting from the latest move despite holding as the strongest currency in G10: GBP/JPY has bounced well ahead of the intraday support at the Y192.58 200-dma.
- The overall size of these greenback moves are telling: a net of ~70 pips in EUR/USD on the sovereign downgrade - signalling that the deterioration in US credit worthiness was partially priced in through the recent tax bill headlines and tariff volatility - both of which remain a primary concern as they filter into hard economic data.
