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Spot USD/IDR reopened lower, catching up with yesterday's greenback sales, but has trimmed some losses since. The rate last sits -29 figs at IDR14,514, with bears looking for a retreat under Jul 13 low of IDR14,462. On the flip side, a rebound above Jul 2 high of IDR14,568 would give bulls some fresh momentum, shifting focus to Apr 13-15, 2020 highs at IDR14,633-14,635.
- USD/IDR 1-month NDF last seen +15 figs at IDR14,562, with topside focus falling on Jul 20 high of IDR14,676. Bears keep an eye on IDR14,487, which limited losses on Jul 16.
- Bloomberg published a source story shedding some light on the decision-making process behind Indonesia's handling of Covid-19 outbreak. The article suggested that Pres Widodo ignored advice from his health advisors, who warned against dramatic spike in both caseload and death toll, when he chose not to impose a a full-scale lockdown. The President was reportedly persuaded by "influential business groups" whose representatives met with him on Jun 30.
- The Finance Ministry and Bank Indonesia will brief investors on Q2 economic development. Elsewhere, FinMin Indrawati is set to speak in a climate change conference.
- Bank Indonesia are set to deliver their latest monetary policy decision today at 1420WIB/0820BST. Policymakers are expected to hold their benchmark policy rate unchanged by virtually all analysts. See our comprehensive preview to see our take on the upcoming decision, a summary of sell-side views and the view of our Policy Team.