Another Day, Another Record-Breaking Covid Tally

Spot USD/IDR has added 22 figs so far and last changes hands at IDR14,485, with bulls looking for a move through Jul 9 high of IDR14,550, towards Jul 2 cycle high of IDR14,568. Bears see Jul 6 low of IDR14,463 as their initial target and a break here would open up Jun 28 low of IDR14,415.

• USD/IDR 1-month NDF last -45 figs at IDR14,536. Downside focus falls on IDR14,493, which limited losses on Jul 5. Conversely, a break above Jul 8 high of IDR14,664 would support the bullish case.
• Health Min Sadikin said that virus containment measures implemented in Java and Bali have only reduced mobility by around 6%-16%, which falls short of the government's 20% target. The ministers warned lawmakers that the "hospitals can't endure it more if we fails to reduce movement by at least 20%."
• Indonesia added 47,899 new Covid-19 infections on Tuesday, the most since the beginning of the pandemic. Officials said that the country faces severe shortages of medical staff and would need 20,000 nurses and 3,000 doctors to deal with the current situation in worst-affected regions.
• Looking into the data Indonesian docket, trade data will be released on Thursday. Elsewhere, Bank Indonesia Asst Gov Hendarta will speak on rules in the payment system, while Ministers Luhut, Agus Kartasasmita and Tasrif will appear at an online summit hosted by the Investor Daily.