Economist Enrico Tanuwidjaja and Haris Handy of the UOB Group reviewed the most recent effects of industry balance in Indonesia.
“Indonesia recorded an industry surplus month of USD 3.3 billion in July 2020 (the industry’s largest surplus since August 2011 with US$3.6 billion), while demand for domestic imports remains moderate amid the COVID-19 pandemic. Imports in July fell 32.5% to /a from -6.4% last month, with imports of customer goods and raw auxiliary goods remaining in a contraction zone. At the same time, exports fell 9.9% to /a in July compared to 1.9% in June. However, export functionality advanced on a monthly basis in July (up to 14.3% m/m) thanks to the easing of social restrictions, the accumulation of agricultural exports, as well as the accumulation of oil and fuel shipments abroad. »
“Indonesian exports in July were valued at US$13.7 billion, and non-oil and fuel exports amounted to USD 13.0 billion (-5.9% to/in July compared to 3.5% in June). At the same time, oil and fuel exports contracted by 49.7% a year in July compared to -22.9% in June. The largest accumulation of non-oil exports and fuels in July (compared to June) exports of valuable metals, jewellery and gemstones (HS -71, US$452.7 million), while the biggest drop occurred in mineral, slag and ash exports (HS-26, -USD 100.5 million). »
“The point of imports in July recorded USD 10.5 billion, with non-oil and fuel imports of USD 9.5 billion (-31.0% to/a in July compared to 3.1% in June). At the same time, oil and fuel imports fell by 45.2% year-on-year in July from -60.5% in June. The largest accumulation of non-oil and fuel imports in July (compared to June) imports of electrical machinery and appliances (SA-85, US$220.9 million), while the largest minimum occurred in car and portion imports (HS-87, -USD 157.9 million). »
The dollar regains its advantage with the opening of Wall Street. Disappointing U.S. employment skills are affecting confidence. EUR/USD bassist and is very likely to fall below 1800. U.S. initial claims exceed $1 million.
The GBP/USD pair turned negative amid a renewed dollar strength, also burdened by Brexit uncertainty. The most recent disagreements over British truckers to Europe are in danger of collapsing in the seventh Circular Brexit negotiations.
Gold cooled its daily lows during the mid-European session, although it recovered temporarily thereafter and was last noticed trading with modest gains, around the region of $1936.
The point of feeling drops through 6.6% and takes a significant downward turn. Bitcoin is appearing as symptoms of a recovery in the short-term market percentage. ETH/USD indicates that the $340 value point is a fast target key.
The point of feeling drops through 6.6% and takes a significant downward turn. Bitcoin is appearing as symptoms of a recovery in the short-term market percentage. ETH/USD indicates that the $340 value point is a fast target key.
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