Bank Indonesia to keep rates on-hold this Thursday - Reuters poll

Dhwani Mehta FXStreet

The latest Reuters poll of 19 economists showed on Tuesday, a majority of them see Bank Indonesia (BI), the Indonesian central bank, keeping its benchmark interest rate on hold this Thursday.

Key Findings:

“In the poll, 17 of 19 economists said they expect Bank Indonesia (BI) to stand pat and keep its 7-day reverse repurchase rate at 5.75%.

The other two predicted the central bank would follow July’s 25-basis-point (bp) cut with a second trim of the same size, bringing the benchmark to 5.50%.

Senior BI officials favour looser monetary policy to unwind some of 2018’s tightening and support GDP growth, which in the second quarter slipped to 5.05%, the weakest in two years.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.