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Bank Indonesia Day

IDR

Spot USD/IDR has shed 16 figs thus far, landing at worst levels in a week. Further losses past the 50-DMA at IDR14,336 would bring Jan 24 low of IDR14,307 into play. Bulls look to a move through Feb 7 high of IDR14,408 before targeting Jan 31 high of IDR14,420.

  • USD/IDR 1-month NDF last +15 figs at IDR14,354. Topside focus falls on Feb 7/Jan 6 highs of IDR14,461/14,470, while bears keep an eye on Jan 13 low of IDR14,292.
  • Bank Indonesia will conclude its two-day monetary policy meeting today, but the Board of Governors is expected to keep the 7-Day Reverse Repo Rate unchanged. See our preview for more colour on the matter.
  • On the data front, Bank Indonesia's & Danareksa Institute's consumer sentiment gauges should hit the wires by the end of this week.

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