The Indonesian economy is highly affected by the combination of rising US yields and higher oil prices.
Highlights of the ECB meeting and press conference.
The European Central Banks left its key interest rates. The Council decided to remain the rates at the present levels for an extended period of time, and well past the horizon of the net asset purchase.
The asset purchase program is left at 60 bln of euros per month. It will be run until the end of December 2017, or beyond, if necessary, until the ECB’s policymakers sees a sustained adjustment in the path of inflation consistent with their target.
- Assets purchases are still need; they will be maintained until sustained inflation around the 2% level.
- There is a stronger momentum in the euro area economic growth
- Risks to the growth outlook is broadly balanced
- If growth projections are distorted, the ECB is ready to increase its asset purchase program in size and duration
- ECB growth outlook has been revised upwards.
- HICP was volatility due to temporal increases in energy and services prices.
- The inflation headline will remain at current level in the upcoming months, there is no convincing sign of pickup
- The ECB policymakers expect only gradually rise in inflation figures
- Inflation expectations are revised downwards, while the growth expectations – upwards.
The euro moved a little bit lower against the USD on the lowering of the inflation estimates by the ECB policymakers.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…