External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

External broker reports(aggregated public sources)

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Macroeconomics

<ul><li>The weaker IDR suggests greater possibility of a BI rate hike; however, we note three factors that rate hike is not the ultimate panacea.</li><li>The fiscal deficit would surpass 4% if the Debt-to-GDP ratio approaches 48%. More comprehensive fiscal design should result in more clarity.</li><li>The DXY is stronger on a weaker Yen asthe BoJ delayed providing details of its QT plan. Expect cross currency event risk to prevail in the ST.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The weaker IDR suggests greater possibility of a BI rate hike; however, we note three factors that rate hike is not the ultimate panacea.The fiscal deficit would surpass 4% if the Debt-to-GDP ratio approaches 48%. More comprehensive fiscal design should result in more clarity.The DXY is stronger on a weaker Yen asthe BoJ delayed providing details of its QT plan. Expect cross currency event risk to prevail in the ST.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Macro Strategy: The Conflation of Currency Risk and Fiscal Frailty

External broker reports(aggregated public sources), Scotiabank

Scotiabank

Scotiabank’s global foreign exchange strategy team provides in-depth regional insights and macro-economic analysis for G10 and advanced economies, Asia Pacific, and Latin America. Find technical and fundamental strategy reports focused on trade ideas, market risks, and the unfolding macro outlook. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

FX & Rates

<ul><li>The USD is trading little changed against the major currencies overall.</li><li>Markets appear to have an eye on month-end and the long weekend already and movement in the core majors is very limited on the session so far.</li><li>Only a few pairs are trading more than +/- 0.1% on day at this point. Stocks are mixed to slightly firmer while Treasurys are flat. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The USD is trading little changed against the major currencies overall.Markets appear to have an eye on month-end and the long weekend already and movement in the core majors is very limited on the session so far.Only a few pairs are trading more than +/- 0.1% on day at this point. Stocks are mixed to slightly firmer while Treasurys are flat. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

FX Daily - JPY Nudges Higher After Officials Meet

<ul><li>The USD is a little softer for a second day running as it continues to edge away from recent range peaks.</li><li>Trading appears light, with markets not particularly incentivized to move the USD significantly higher, or that much lower, while monetary policy prospects remain unclear.</li><li>A slightly firmer yuan, supported by the PBoC setting another strong fixing rate, has added to pressure on the USD somewhat in broad terms. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The USD is a little softer for a second day running as it continues to edge away from recent range peaks.Trading appears light, with markets not particularly incentivized to move the USD significantly higher, or that much lower, while monetary policy prospects remain unclear.A slightly firmer yuan, supported by the PBoC setting another strong fixing rate, has added to pressure on the USD somewhat in broad terms. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

FX Daily - USD Drifts Lower in Quiet Trade

<ul><li>Yesterday’s FOMC failed to deliver the hawkish policy messaging that many in the market feared.</li><li>The policy statement was all but unchanged and the dots continued to reflect a median expectation that rates would drop 75bps this year.</li><li>Longer run rate projections were lifted a little though and the economic projections reflected a bias towards stronger growth and somewhat higher inflation.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Yesterday’s FOMC failed to deliver the hawkish policy messaging that many in the market feared.The policy statement was all but unchanged and the dots continued to reflect a median expectation that rates would drop 75bps this year.Longer run rate projections were lifted a little though and the economic projections reflected a bias towards stronger growth and somewhat higher inflation.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

FX Daily - USD Mixed as CHF Slides on Surprise SNB Rate Cut

<ul><li>The USD is trading firmer across the board against the major currencies and markets generally have a cautious undertone as investors look ahead to the FOMC meeting outcome.</li><li>Stocks are trading lower in Europe and US equity futures are softer. Bonds are marginally better bid, pushing 10Y yields down 1-2bps.</li><li>The JPY is particularly weak, trading at its lowest since 2008 against the EUR and nearing recent, multi-year lows against the USD just under 152.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The USD is trading firmer across the board against the major currencies and markets generally have a cautious undertone as investors look ahead to the FOMC meeting outcome.Stocks are trading lower in Europe and US equity futures are softer. Bonds are marginally better bid, pushing 10Y yields down 1-2bps.The JPY is particularly weak, trading at its lowest since 2008 against the EUR and nearing recent, multi-year lows against the USD just under 152.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

FX Daily - USD Strengthens into Fed Decision

United States

The U.S. Dollar Index(USDX) indicates the general int'l value of the USD. The USDX does this by averaging the exchange rates between the USD and major world currencies. The ICE US computes this by using the rates supplied by some 500 banks. FOR REAL TIME SEE EIS ICEA<GO>.

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Dollar Index (DXY CURNCY)

Macro Strategy: The Conflation of Currency Risk and Fiscal Frailty

The weaker IDR suggests greater possibility of a BI rate hike; however, we note three factors that rate hike is not the ultimate panacea.

BRI Danareksa Research

FX Daily - JPY Nudges Higher After Officials Meet

Markets appear to have an eye on month-end and the long weekend already and movement in the core majors is very limited on the session so far.

Scotiabank

FX Daily - USD Drifts Lower in Quiet Trade

Trading appears light, with markets not particularly incentivized to move the USD significantly higher, or that much lower, while monetary policy...

Scotiabank

FX Daily - USD Mixed as CHF Slides on Surprise SNB Rate Cut

The policy statement was all but unchanged and the dots continued to reflect a median expectation that rates would drop 75bps this year.

Scotiabank

FX Daily - USD Strengthens into Fed Decision

The USD is trading firmer across the board against the major currencies and markets generally have a cautious undertone as investors look ahead to...

Scotiabank

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)