Trade Balance Sees Surplus at US$590mn, Rupiah Expected to Bounce
16 August 2016 10:20 WIB
TEMPO.CO, Jakarta - Indonesian Trade Balance sees surplus at US$590 million has received positive revise from foreign exchange despite having a surge in export and import sector, rupiah has bounced back at 13,098 per US Dollar.
Research Head of NH Korindo Securities, Reza Priyambada, said that it can break the sideways trend, causing Rupiah to escape consolidation space.
"We should keep an eye on the existing sentiment," said Reza Priyambada.
US Dollar has experienced massive pressure from other currencies, such as EUR (Euro), GBP (Pounds), AUD (Australian Dollar,) and NZD (New Zealand Dollar). US Dollar bounced back against Yenm following under-par Japanese GDP release.
"This has caused the market to sell US Dollar, thus improving other currencies - including Rupiah," said Reza.
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