Indonesia's Budget Deficit Expected to Stay Within Target, Says UOB
- Fiscal Deficit Control: UOB projects that Indonesia's fiscal deficit will remain within the legally mandated ceiling, with expectations of further narrowing by 2023, reflecting the government's fiscal management capabilities and enhanced market confidence.
- Tax Revenue and Spending Balance: Supported by strong commodity prices and a recovering domestic economy, Indonesia's robust tax revenues, coupled with disciplined government spending, will help maintain deficit control and support future economic growth.
- Positive Market Signals: A contained fiscal deficit reduces the risk of sovereign credit downgrades, aiding the stability of the Indonesian rupiah, attracting foreign capital, and minimizing excessive government borrowing needs, thereby stabilizing bond yields.
- Economic Growth Outlook: Fiscal consolidation provides Bank Indonesia with more room to focus on maintaining rupiah stability, with projected economic growth of around 5.2% in 2024, indicating that Indonesia's macroeconomic fundamentals remain sound.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK). As of , Lorenzo Protocol (BANK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 2 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0156 | 0.0232 | 0.0298 | 0.0374 | 0.044 | 0.0516 | 0.0582 |
| Fibonacci | 0.0232 | 0.0286 | 0.032 | 0.0374 | 0.0428 | 0.0462 | 0.0516 |
About BANK
About the author
