Indonesia: Consumer Confidence improves in April – UOB

Pablo Piovano FXStreet

Economist at UOB Group Enrico Tanuwidjaja reviews the improvement in the consumer sentiment gauge in Indonesia.

Key Takeaways

“Indonesia’s Consumer Confidence Index increased slightly in Apr to 113.1, up by 2.1pt from March’s 111.0.”

“The Current Economic Condition Index increased slightly to 98.9 in Apr from Mar’s 93.9.”

“Consumer generally remains upbeat on the economy in the next 6 months despite a slight decline in 6-month ahead Index to 127.2 in Apr from 128.1 in Mar.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

AUD/USD holds the bounce near 0.7050 after China trade data

AUD/USD is holding the bounce from two-month lows, retesting 0.7050 in the Asian session on Tuesday. Easing tensions in the Middle East keep the US Dollar on the defensive, supporting the pair amid China's trade surplus expansion in May.

USD/JPY consolidates above 160.00 amid intervention fears, Israel-Iran ceasefire

USD/JPY holds steady above 160.00 during the Asian session on Tuesday as expectations that authorities will step in again to prop up the Japanese Yen hold back bulls from placing fresh bets. Moreover, a de-escalation of tensions between Israel and Iran undermines the safe-haven US Dollar, capping the currency pair. Traders also seem hesitant and opt to wait for the release of the latest US inflation figures on Wednesday and Thursday.

Gold rebounds but not out of the woods yet

Gold holds the rebound above $4,300 early Tuesday after hitting three-month lows at $4,269. The US Dollar eases amid doubts over the Mideast truce situation, traders cash in ahead of Wednesday’s US CPI. Downside risks remain intact for Gold whilst below the 200-day SMA and amid bearish daily RSI.

XRP and XLM outlook: Fragile recovery as traders favor downside

Ripple and Stellar remain under pressure on Tuesday after a mild recovery following a massive correction in the previous week. Weakening derivatives positioning, alongside mixed on-chain data for both XRP and XLM, suggests that any recovery rallies are likely viewed as corrective within a broader bearish context. Derivatives data shows a bearish tilt.

Upbeat NFP data sets the market up for CPI test

Investors sought safety toward the US dollar after the latest NFP report triggered risk-off trading across the markets. The US Dollar Index which tracks the dollar strength against a basket currencies recorded one of it’s best weeks in recent times.

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.