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US dollar slips despite upbeat economic data

22

Dec

US dollar slips despite upbeat economic data

U.S. existing-home sales climbed 0.7 percent to a seasonally adjusted annual rate of 5.61 million units in November, from a downwardly revised 5.57 [...]

US dollar slips despite upbeat economic data. U.S. existing-home sales climbed 0.7 percent to a seasonally adjusted annual rate of 5.61 million units in November, from a downwardly revised 5.57 million in October, beating market consensus of 5.535 million units.  The dollar index, which measures the greenback against six major peers, was down on Wednesday after posting gains in the past two sessions. The index was down 0.26 percent at 103.020 in late trading.  In late New York trading, the euro rose to 1.0428 dollars from 1.0392 dollars, and the British pound decreased to 1.2343 dollars from 1.2361 dollars. The Australian dollar increased to 0.7304 dollar from 0.7255 dollar.  The U.S. dollar bought 117.55 Japanese yen, lower than 117.71 yen of the previous session. The U.S. dollar was down to 1.0261 Swiss francs from 1.0286 francs, and it decreased to 1.3336 Canadian dollars from 1.3379 Canadian dollars.  (A026) 
Editor: Unggul Tri Ratomo
http://www.antaranews.com/berita/602877/dolar-as-melemah-meski-data-ekonomi-positif

22

Dec

Oil prices plunge

U.S. crude oil inventories rose by 2.3 million barrels last week to 485.4 million barrels, lifting the year-on-year increase by 1.9 percentage points [...]

Indonesian Promotion Through Delectable Coffee Tour in Prague

21

Dec

Indonesian Promotion Through Delectable Coffee Tour in Prague

In a release from the Indonesian Embassy in Prague to DetikTravel on Wednesday (12/21/2016), they invited the West Java Plantation Agency to hold a [...]

Indonesian Promotion Through Delectable Coffee Tour in Prague. In a release from the Indonesian Embassy in Prague to DetikTravel on Wednesday (12/21/2016), they invited the West Java Plantation Agency to hold a Coffee Tour. This event was to promote and find potential buyers for Indonesian coffee products.The Paris van Java Coffee brought from Indonesia has been met with the Almed company from the Czech Republic and an MoU has been signed to open a coffee house, as stated by Punjul Nugraha, Head of the Economics Division at the Indonesian Embassy in Prague. The Indonesian Ambassador to the Czech Republic, Aulia Rahman, said that coffee could be a means of conducting Indonesian diplomacy.It is hoped that in the near future a coffee shop will be standing in a strategic location in the Czech Republic representing the sale of Indonesian coffee in the future. Indonesian coffee has an increasing number of fans thanks to its delicious flavor.With the potential for tourism in the city of Prague and other tourist cities, this coffee shop is believed to be able to achieve great success in promoting Indonesian coffee in the Czech Republic.`In fact, with the taste of Indonesian coffee, full of aroma that is so beloved by the people of the Czech Republic, it is hoped that it can be used as the right gateway for introducing other excellent products,` said Ambassador Aulia Rahman. (bnl/bnl)
https://travel.detik.com/read/2016/12/21/102230/3376821/1382/promosi-indonesia-lewat-tur-kopi-yang-sedap-di-praha

20

Dec

Supply outlook uncertain, oil rises

Benchmark Brent crude futures settled 28 cents lower at US54.93 a barrel. US West Texas Intermediate (WTI) crude rose 22 cents to settle at US52.12 a [...]

Supply outlook uncertain, oil rises. Benchmark Brent crude futures settled 28 cents lower at US54.93 a barrel. US West Texas Intermediate (WTI) crude rose 22 cents to settle at US52.12 a barrel.
`US output looks likely to rise, which will offset a significant chunk of the planned OPEC production cuts, particularly since there is no anticipation of strong compliance,` Jim Ritterbusch, president of Chicago-based energy consultancy Ritterbusch & Associates, was quoted as saying by Reuters on Tuesday (20/12/2016).
Ritterbusch said the market would likely be surprised by 60 percent OPEC compliance in the first quarter, as a response to US shale. Traders noted that delayed Libyan crude loadings also supported prices earlier in the session.
On Saturday, a group of guards protecting oil infrastructure in Libya said they had lifted a blockade on a key pipeline leading from the Sharara and El feel oilfields. But a separate group has blocked the restart of production at the El Feel oilfield.
Meanwhile, the US dollar firmed nearly 0.1 percent on Monday, making oil more expensive for holders of other currencies. Still, some analysts expected prices to rise early in 2017 due to a deal by OPEC and other producers to cut output by almost 1.8 million barrels per day

Author
: Estu Suryowati

Editor
: Bambang Priyo Jatmiko

Source
: Reuters,

http://bisniskeuangan.kompas.com/read/2016/12/20/094500426/prospek.pasokan.masih.belum.jelas.harga.minyak.naik

20

Dec

South Sumatra Will Grow 5.5%

The Head of the Bank Indonesia for South Sumatra, Hamid Ponco Wibowo, said the factors supporting the economic growth will make the outlook for South [...]

South Sumatra Will Grow 5.5%. The Head of the Bank Indonesia for South Sumatra, Hamid Ponco Wibowo, said the factors supporting the economic growth will make the outlook for South Sumatra better than 2016.
“Next year, there will still be many new projects or continued projects from the government that will make investment grow. In addition, the trend in better commodity prices will continue and can push South Sumatra's export`, he said during the Bank Indonesia annual meeting on Monday (December 19).
Ponco said that the government is ready to play a role in creating investment growth through various infrastructure projects, while government consumption is believed to accelerate.
“The increase in government consumption is in line with the improved acceptance of transfers from the central government after implementation of the tax amnesty”, he said.
Meanwhile, from the side of the improvement in export performance, Ponco is optimistic that the projection is not separated from the factors of increasing trend of plantation and mining commodity prices, which are South Sumatra's mainstays. The mainstays of the region are palm oil, rubber and coal.
From the global aspect, he stated, export recovery will also be supported by the conditions of the global economy that show improvement, one of which is the United States.
However, the central bank still considers that exports will still face a challenge due to the condition of the Chinese economy that is South Sumatra's main export market and is currently still in the process of balancing.
“In the future, the global risk still needs to be watched, especially related to the US fiscal and trade policies, and the balancing process of the economy and remedying of the Chinese financial sector”, he explained.
Ponco added that other factors supporting the economic growth of South Sumatra next year are the processing industry.
According to him, the processing industry sector has the potential to experience growth improvements in line with the plan to operate Southeast Asia's largest paper and paper material processing factory.
“The paper processing factory is planned to be operational in March 2017, complementing the construction of other strategic infrastructure projects in South Sumatra”, he said.
Based on the records of the central bank, the processing industry has contributed quite highly to the economy of South Sumatra, which was seen during the period of Q3/2016.
During that period, the processing industry grew by 7.46% (yoy). Most of the growth in the sector came from the rubber, vegetable oil, non-metallic mineral goods and food and drink processing industries.
SUPPORTED BY NRD
During the same opportunity, Ponco explained that the prospect for South Sumatra's better economic growth is also supported by the abundance of natural resources (NRD) in the province.
According to him, South Sumatra is the largest rubber producing province in Indonesia with a production of 0.95 million tons or 30% of national rubber production.
“Meanwhile 70% of South Sumatra's exports and 63% of portion of household consumption against South Sumatra's PDRB are very dependent on the performance of that commodity”, he said.
He continued the potential for NRD is still added to by South Sumatra's successful experience in becoming the host for national and international scale activities.
“The potential as the place of implementation for MICE continues to be maximized with infrastructure construction especially that supporting the 2018 Asian Games, such as roads, bridges and accommodation facilities”, he stated.

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Editor : Bunga Citra Arum Nursyifani

http://koran.bisnis.com/read/20161220/436/613494/sumsel-bakal-tumbuh-55

CPO PRICE Sept 20: Palm Oil Rallies Again ahead of India Industry Conference's Outlook

20

Dec

CPO PRICE Sept 20: Palm Oil Rallies Again ahead of India Industry Conference's Outlook

CPO futures for December 2016, the most active contract on Bursa Malaysia, sprinted 2.27% or 60 points to 2,702 ringgit per ton at 09:58 WIB. Palm [...]

CPO PRICE Sept 20: Palm Oil Rallies Again ahead of India Industry Conference's Outlook. CPO futures for December 2016, the most active contract on Bursa Malaysia, sprinted 2.27% or 60 points to 2,702 ringgit per ton at 09:58 WIB.
Palm oil movement had previously opened with a 1.44% or 38 point increase to stand at 2,680 ringgit per ton.
On Monday (19/9/2016) trading, palm oil prices skyrocketed 3% or 77 points to reach 2,642.
“Traders expect prospects for an increase from the industry conference in India this week,” said Josephine Goh, Associate Director of Futures and Commodities at RHB Investment Bank, as cited by Bloomberg today, Tuesday (20/9/2016).
On the other hand, the sluggish performance of the Malaysian ringgit has also provided support for the market. The ringgit’s exchange rate was seen to conversely weaken by a modest 0.08% to reach 4.1415 per US dollar at 10:12 WIB.
India’s 11th largest trade exhibition for the food and beverage processing industry, ANUTEC – International Food Tec India, along with the PackEx India, Food Logistics India and Annapoorna World of Food India trade exhibitions will be held on 22-24 September 2016 in Mumbai.
CPO Price Movement for December 2016 Contracts

Date

Level

Change

20/9/2016 (09:58 WIB)

2,702

+2.27%

19/9/2016

2,642

+3.00%

16/9/2016

15/9/2016

2,565

+1.26%

14/9/2016

2,533

-0.67%

Source: Bloomberg, 2016http://market.bisnis.com/read/20160920/94/585355/harga-cpo-20-september-harapan-jelang-konferensi-industri-india-sawit-melesat-lagi

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