“Stunning March Surge: FX Reserves Skyrocket, UOB Reports Remarkable Growth”


Enrico Tanuwidjaja, an economist at UOB Group, and Agus Santoso, a junior economist, recently reviewed Indonesia’s latest foreign exchange (FX) reserves prints. In March 2023, Indonesia’s foreign exchange reserves increased by $4.9 billion, bringing the total to $145.2 billion. This substantial reserve level demonstrates Indonesia’s stable economic position as it is equivalent to financing 6.4 […]

“Two Banks in March: Was the Pace of Rate Hikes Truly the Culprit?”


The Federal Reserve Bank of New York President, John Williams, has stated that the financial system troubles prompting the central bank to provide large amounts of credit to banks is not collateral damage stemming from the Federal Reserve’s aggressive campaign to lower inflation. This comment comes in defense against the growing concern that the rapid […]

Schwab Sees Whopping $53B Client Influx, Clocks Second Best March in Historical Record


Charles Schwab Corp announced that it recorded $53bn in core net new client assets in March, marking the second-highest March result in the company’s history. This comes in a time when deposit flows have stayed fairly consistent despite recent weeks of turbulence in the financial sector. Many investors have been turning to Charles Schwab in […]

US Services PMI Declines, Revealing Slower Economic Activity


In March, economic activity within the US services sector grew at a slower pace, with the ISM Services PMI dropping to 51.2 from 55.1 in February. The reading was weaker than the market expectation of 54.5. The inflation component of the PMI survey, the Price Paid sub-index fell to 69.5 from 65.6 in February, while […]

“March NFT Sales Skyrocket to $2 Billion as Market Leader Blur Steals the Show!”


As the NFT (non-fungible token) market continues to grow at a rapid pace, the total sales of such tokens reached nearly $2 billion in March. This signals a significant increase in sales for NFTs compared to previous months, primarily due to the increasing demand for visual art and designer collectibles such as music, videos, and […]