April Sees Significant FX Reserves Dip: UOB Uncovers Surprising Changes
Enrico Tanuwidjaja and Junior Economist Agus Santoso, economists at UOB Group, have reviewed the latest release of foreign exchange (FX) reserves in Indonesia. In April 2023, Indonesia’s foreign exchange reserves slightly decreased by $1 billion to reach $144.2 billion. This latest reserve level is enough to finance 6.4 months of imports or 6.3 months’ worth […]
“April’s Surprising Economic Twist: Inflation Takes a Step Back, Reveals UOB Report”
During the festive month of April, Indonesia experienced a surprising decline in its headline inflation, which eased to 4.3% year-on-year (y/y) from 5% in March. This stands in contrast to the expected trend of an increase in inflation. The primary cause for this change was lower and stable food and transportation prices, as the government […]
“GBP/USD Soars: UOB Predicts Potential Surge to 1.2665 – Don’t Miss Out!”
The strength of the GBP to USD uptrend could raise the price point to 1.2665 in the near term, according to economist Lee Sue Ann and markets strategist Quek Ser Leang at UOB Group. Although GBP saw a steady increase to a fresh 11 month high of 1.2599 on 03 May, with little change at […]
“UOB Averts Technical Recession: Navigates Economic Storm with Skill and Finesse!”
In the first quarter of 2023, South Korea’s economy saw an increase in GDP growth, in line with expectations, at 0.8% year-on-year and 0.3% quarter-on-quarter seasonally adjusted. While avoiding a technical recession, the boost in GDP is attributed to stronger private consumption as well as goods exports, primarily from motor vehicle shipments. However, electronics remained […]
“UOB Predicts Diminishing Chances for More Gains in USD/JPY: Is a Reversal Imminent?”
uotes: “USD/JPY has been unable to sustain a move beyond 135.75 and the rapidly deteriorating momentum suggests that further attempts are unlikely.” – Lee Sue Ann, Economist, UOB Group “USD/JPY’s advance appears to be stalling and while the rapid loss of upward momentum does not necessarily imply a more significant top is in place, it […]
“Breaking: BI Holds Rates Steady This Week, Expectations Defied – Insights from UOB Experts!”
Economists predict that Bank Indonesia (BI) could maintain its policy rate unchanged in its upcoming meeting later this week. Lee Sue Ann, an economist at UOB Group, suggests that inflation expectations remain anchored and the stability of the rupiah is here to stay. As a result, the BI rate forecast is maintained at 5.75% for […]
“USD/THB Surges: UOB Sees Impressive Near-Term Growth with Extra Upside Potential!”
ob Group in our previous note to “edge higher to 33.00 within a few weeks”. USD/THB subsequently touched 32.75 last week before settling down in a slight corrective pull-back. While USD/THB has failed to extend its advance for now, our view for the currency pair to strengthen towards 33.00 remains intact. That being said, overall […]
“Breaking: BoK Halts Tightening Cycle in April – South Korea’s Economy Shifting, Says UOB”
Economist Ho Woei Chen at UOB Group recently reviewed the latest monetary policy meeting by the Bank of Korea (BoK). The key takeaways from the meeting provide some insights into the current state of the South Korean economy, as well as potential areas of focus for future policy. First, the Monetary Policy Board of BoK […]
“USD/CNH: Stagnant Side-Lined Theme Persists, What’s Next? – UOB Weighs In!”
st Wong Chee Seng. The USD/CNH pair, referring to the US Dollar (USD) against the Chinese Yuan (CNH), has been observed to maintain a consistent range between 6.8500 and 6.9200 in recent weeks. This trend is expected to persist in the short term, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Wong […]
“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 […]