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Bali Airport Reopens, Widodo Says Indonesia Might Eventually Stop Shipping CPO

IDR

Spot USD/IDR tumbled to its worst levels in 5 months, owing to the rupiah's sensitivity to moves in U.S. Tsy yields. The pair last trades -50 figs at IDR14,168, after forming a death cross earlier this week. Bears looking for a further sell-off past May 10 low of IDR14,145. Conversely, bulls would get some relief, should USD/IDR rally past Oct 12/13 highs, both at IDR14,224.

  • USD/IDR 1-month NDF last seen -40 figs at IDR14,192. On the downside, May 7 low of IDR14,133 provides the initial target. On the flip side, bulls keep an eye on the 50-DMA at IDR14,342.
  • Indonesian Pres Widodo said Wednesday that the nation intends to eventually stop exporting crude palm oil and switch to shipping refined products instead.
  • Indonesia confirmed its readiness to reopen the Bali airport to visitors from 19 selected low-risk countries today, but it is unclear if many travellers will head to the island as long as strict safety measures remain in place.
  • Participants look ahead to the release of Indonesia's trade data tomorrow.
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